The Courier & Advertiser (Perth and Perthshire Edition)
Fife tech could become standard in cars
Asmall St Andrews company is a pioneer in digital holographic mastering and hologram replication technology.
Ceres Holographics sees massive potential for growth. Chief executive Andy Travers expects that its technology will be integrated as standard into the windshields of many cars in the years ahead.
He believes the firm has the potential to generate hundreds of millions of pounds of annual revenue by the end of this decade.
Ceres was founded in 2009 and embarked on its current commercial strategy five years ago.
The company’s technology is used to produce precisionengineered holographic optical elements (HOEs) in new material for massmarket display applications.
Ceres says it can be used in key, high-growth industries such as automotive, wearables, retail, lighting, aerospace and more.
Andy said: “Currently, our main focus is developing next-generation holographic transparent display solutions.
“We design the system with our partners and then produce the HOEs that can be integrated into glass to turn glass into smart displays.
“Our method of producing these HOEs is more advanced than other companies can produce on the market today.
“Initially we are targeting the automotive sector – providing car manufacturers and glass makers with unprecedented opportunity to project valuable information on to the glass.
“The repercussions of this are enormous in terms of added safety, efficiency and enjoyment.
“Think of delivery vehicles with GPS and package information right on the windscreen enabling last-minute delivery and optimised routes.
“As autonomous driving modes become standard, the windows of vehicles become information displays serving up data and entertainment and, for hybrid modes and when drivers are controlling the vehicle, cluster and other critical information is served up in the sight line of the driver, reducing distractions or the need to take eyes off the road.”
Andy said holographic technology holds a lot of promise for many markets and he sees the role of Ceres as helping to commercialise it so it can bring added value today and in the future.
“Right now, we are developing several proofof-concept projects for key automotive customers and all of them are around mobility applications – improving safety and efficiency for drivers and passengers.
“Our technology is in high demand from top-tier car manufacturers who want to put more information in the windscreen and even in the rear side-windows.”
Andy said Covid had been a challenge for all businesses around the world and Ceres was no exception.
“We implemented new security and safety protocols so our team could work safely on-site – some of our engineers could not work from home because of the equipment and had to be on-site where we are piloting several important production projects.
“We are very fortunate that we have been able to continue our work for the most part – under modified conditions – throughout the pandemic.
“Even better, we never had to furlough any employee thanks to the demand for our technology and the backing of supportive investors.”
The chief executive said the demand for the Ceres’ technology had exceeded his expectations.
“The original focus of the company had been on developing image holograms for advertising and brand protection, but the emerging electric vehicle business and push towards autonomous driving has really accelerated the demand.
“Every major automotive manufacturer (OEM) needs to differentiate their cars through better user experience, and the glass surface in cars is one of the last unmonetised screens in the world – as the chief executive officer of Apple once said.
“So, it has created this insatiable demand for solutions, of which ours is one.”
Andy said Ceres has commercial projects with a whole range of top-tier OEMs and their suppliers, working with his firm on a number of proof-of-concept projects.
“While confidentiality reigns supreme in this business we hope to be able to announce key customer wins later this year.
“We work with partners around the world and have customers in Europe, Asia and the US.
“We are just starting to work with some UK development teams, so that’s encouraging.”
Ceres – whose owners include founder Ian Redmond, private investors and Scottish Enterprise – employs 17 full-time staff and plans to continue hiring over the next years.
The chief executive added: “We have ambitious growth plans, so we are actively looking for more space and more people at all levels.
“We are open to looking for more industrial space outside of St Andrews/Fife.
“Over the next few years, we expect to expand globally with application design and business development facilities.”
Andy said the technology which Ceres is bringing to market is complex and involves a number of different partners throughout the supply chain.
“We have been in prototyping mode for the last three years, but have still have managed to generate more than £2 million in revenue.
“Turnover last year was impacted by Covid and so finished just under the £1m.
“This, combined with our investor funding, has helped us continue to build out the technology.
“Looking forward, we expect revenue to ramp up quickly, when cars go to production levels, and royalties from HOEs and other recurring revenue streams kick in.
“The potential annual revenue is most definitely in the hundreds of millions of pounds by 2030.”
Andy expects that, in five years’ time, the Ceres technology will be integrated as standard into the windshields of several brand-name cars and the business will be highly profitable due to its high gross margin.