MultiX_press release

Vélizy, on January 13th, 2011
First capital raise by MultiX,
leader in spectrometric X-rays imaging for airports security
applications
MultiX, a company specialized in the field of luggage and parcel checking, announces the
finalization of a first capital raise of 3 million Euros from ACE Management, CEA
Investissement, Thales Corporate Ventures, Rhône-Alpes Création and Expansinvest.
The company has been created in October, 2010 by Jacques Doremus and Patrick
Radisson, both issued from the Thales group, with the support of the French CEA (Atomic
Energy Commission). This raise gives the financial means to develop a new generation of
detectors which level of performances will allow to improve considerably the ability of X-rays
inspection scanners to identify illicit substances in the regulation context in full evolution both
in Europe and in the United States.
MultiX will supply the x-rays scanners manufacturers with sub-systems of detection which will
allow to reconcile the efficiency of the luggage checking, the easy process for airports and
the comfort of the passengers, by allowing them, in particular, to keep liquids in they hand
luggage during their air travel.
The company benefits from important partnerships with the CEA-Leti, with which a license
agreement concerning a patents portfolio and the know-how in the field of spectroscopic
imaging has been signed, and Thales Electron Devices, from which a business has been
acquired. MultiX should be involved in various European programs.
François Breniaux, in charge of investment at CEA Investissement, specifies " that MultiX is
going to create value from a CEA-Leti know-how of more than fifteen years in the field of use
of a semiconductor material in direct detection for radiological imagers. The airport luggage
inspection world market addressed by MultiX worth about a billion dollars ".
For Jacques Doremus, CEO and founder: " the technical team of MultiX works already for 3
years - initially within the group Thales - in partnership with the CEA-Leti on a program of
feasibility to investigate the potential offered by the spectrometric X-rays detection for the
identification of explosives in luggage. A demonstrator issued from this program has
demonstrated in laboratory conditions the ability to identify materials including explosives
with a significant reduction of the false alarm rate with regard to the detectors used at
present. We are delighted to have been able to gather prestigious investors who, by their
expertise and their proximity, are going to allow us to develop this new technology and to
answer the high demand from the airport security market, it offers us a big potential of
growth"
For Benoît Perrot, director of investment at ACE Management, "we decided to invest in
MultiX because the company benefits from assets which are very often essential to the
success of a high-technology project start-up company. First MultiX is a spin-off based on a
MultiX - Société Anonyme au capital de 200.000€
Siège social : 7, allée des Impressionnistes - 92200 Neuilly-sur-Seine - France
Adresse postale : MultiX S.A. – c/o Thales Electron Devices – 2, rue Marcel Dassault BP 23 78141 Vélizy-Villacoublay - France
strong technology know-how from a large industrial group. Second is the evolution of the
regulation within 2013 on explosives detection in air luggage which should favour the
emergence of new technologies. Third this project is led by a talented team. "
For Thomas Got, Chairman and CEO of Thales Corporate Ventures, " the creation of MultiX
shows the capacity of Thales group to favour the emergence and the development of
innovative technologies within it, specifically here in the field of its skills of X-ray detection. By
means of funding with its partners the first raise of capital, Thales Corporate Ventures wishes
to give a new boost and to support the management team in this new stage. "
For Jacques Belin Chairman and CEO of Thales Electron Devices: " focusing our
developments in the X-rays on medical imaging applications, we are happy to see that these
innovations allow the creation of MultiX, to which we wish full success ".
MultiX is endowed with necessary means - technical and financial - to become the first
potential supplier of spectrometric X-rays detectors for the security market.
The French Ministry de l’Enseignement Supérieur et de la Recherche selected MultiX as a
2010 prize-winner for innovative technologies start-up companies.
For more information :
About MultiX : Jacques Doremus : [email protected]
About ACE Management:
ACE Management is a portfolio management company specialised in private equity
investment in technology companies in the fields of Aerospace, Defence, Security and
Maritime. ACE Management manages eight investment vehicles (among which AEROFUND
I and II, SECURITE, Financière de Brienne and ATALAYA) representing more than 300 M€
invested by industrial leaders (Thales, CEA, DCNS, Safran, EADS, Airbus,…), institutional
investors (CDC, AXA, Crédit Agricole, CIC, FSTQ, …) and 4 French Regions (MidiPyrénées, Aquitaine, Pays de la Loire, Centre). The investment in MultiX has been made by
FCPR Sécurité and FCPR Financière de Brienne.
About CEA Investissement: CEA Investissement, company with a capital of 27 million
Euros, is the subsidiary company of CEA (Atomic Energy Commission) for investments, the
major establishment of the technological research, the development and the innovation. CEA
Investissement invests in strongly innovative start-up companies developing technologies in
the fields of activity of CEA (Atomic Energy Commission). These domains include in
particular information technologies, microelectronics, health, energy and environment.
For further information: www.cea-investissement.com
About CEA / LETI: At the heart of the MINATEC innovation campus, Leti is an applied
research centre for microelectronics and for information and healthcare technologies.
Providing a unique interface between industry and academic research, it is responsible each
year for the development and transfer of innovative technologies in a wide variety of sectors.
In addition to Leti’s 1,500 employees, there are more than 250 students involved in research
activities, which makes Leti a mainspring of innovation expertise. Leti’s portfolio of 1,500
families of patents helps strengthen the competitiveness of its industrial partners.
MultiX - Société Anonyme au capital de 200.000€
Siège social : 7, allée des Impressionnistes - 92200 Neuilly-sur-Seine - France
Adresse postale : MultiX S.A. – c/o Thales Electron Devices – 2, rue Marcel Dassault BP 23 78141 Vélizy-Villacoublay - France
About Expansinvest: Société Anonyme with a capital of 9,5 M€, Expansinvest is the
subsidiary of Banque Populaire des Alpes for local investments in capital. Expansinvest
invests in stockholders' equity in SME from Rhône-Alpes in phases of innovative creation
(technological start-up), development and transmission.
About Rhône-Alpes Creation: for more than 20 years, Rhône-Alpes Creation finances
projects of innovation by occurring with a capital of young companies, to finance their first
phases of development. Endowed with a 17 million Euros capital, thanks to the support of la
Région Rhône-Alpes and several banks of Lyon, Rhône-Alpes Creation occupies a central
position in the seed capital. It is composed of an active team of 7 persons that manages a
portfolio of 61 participations.
To know more about it: www.r-a-c.fr
About Thales Corporate Ventures: Thales Corporate Ventures, company with a capital of
15 million Euros, is the subsidiary of the Thales group for equity investment risks, world
leader in high technologies for the domains of aeronautics, space, defence, security and
transport. Thales Corporate Ventures invests in stockholders' equity and manages an
investment portfolio in innovative companies. TCV supports in particular technology spin-off
of the group Thales.
MultiX - Société Anonyme au capital de 200.000€
Siège social : 7, allée des Impressionnistes - 92200 Neuilly-sur-Seine - France
Adresse postale : MultiX S.A. – c/o Thales Electron Devices – 2, rue Marcel Dassault BP 23 78141 Vélizy-Villacoublay - France