LYYN AB has secured extra financing of 1.5 MSEK. This has been achieved through an issue of preferential shares to the existing owners and via a loan from ALMI, a governmental financier of small companies.

”Our business model is based on technology licensing and our revenues increase in line with our customers’ market success. Since we are now in the beginning of a market expansion we need to increase our marketing and sales activities, both regionally and internationally. This additional financing will enable us to invest in technology development and LYYN V.E.T. based product development.” says Andreas Ekengren, Managing Director, LYYN AB.

“LYYN has a very strong product that generates a big interest within the organizations we are in contact with. Indications from these companies point to extremely great potential. The company needs to increase its activity levels to respond to the great market interest being generated. This requires additional financing. By issuing new shares, Augmenta Venture Partners, has become the company’s majority owner. This demonstrates their confidence in LYYN. “In 2006 we will start reaping the rewards of our marketing efforts from this year.” ends Mats Cremon, Chairman of the Board and the Augmenta representative on the Board of Directors of LYYN AB.

Pressrelease in English and Swedish.

Managing foul weather and poor visibility are key factors in running safe airports. LYYN V.E.T. can contribute in the ever increasing need for safer air traffic.

The LFV Group (operator and developer of Swedish state owned airports), Sturup Airport, LYYN and Axis Communications has initiated a test and evaluation project around LYYN V.E.T. The purpose of this project is to evaluate the benefits of utilising LYYN Enhanced video systems in different applications, e.g. long distance zoomed viewing with video (“binoculars”). Among the areas tested will be: peripheral security, Safety and Rescue and Air Traffic Control.

For the sixth time the entrepreneur network CONNECT Sweden and IVA (Royal Swedish Academy of Engineering Sciences) arranges a competition to appoint the best spin-off company from sweden's universities and institutes. Six companies, one being LYYN, has been nominated out of list of 25 entries.

The winner will be presented in the beginning of 2006.

Links in Swedish:

CONNECT Sweden

IVA

Ny Teknik

LYYN forms co-operation with TELECA

LYYN and Teleca (www.teleca.com), an international company focused on R&D that develops and integrates advanced solutions, have entered a co-operation primarily targeted towards the automotive and manufacturing industries. The co-operation means that LYYN and Teleca join forces in market and customer activities with LYYN as supplier of LYYN V.E.T. and Teleca as system integrator.

For more information, please contact:

Håkan Fernström at Teleca or

Fredrik Beckman at LYYN

LYYN technology now in minute camera from Emwitech

Emwitech is an innovative company with two major strengths, one in radio technology and one in minute but advanced cameras that Emwitech (www.emwitech.se) combine in an advanced wireless camera at a very competitive price. With LYYN V.E.T. integrated in the camera the market gets access to a sturdy platform with a variety of different applications including alarm security and surveillance.

”This is not just business that has large potential in itself, we see it as an important piece in the jigsaw in customer discussions we are currently holding. The camera solution is the answer to many different requirements within fixed, mobile and personal applications.” says Fredrik Beckman, Marketing Director LYYN.

Read the press release in Swedish or English.

LYYN’s inventors receive second prize in Innovation competition

Every year, Öhrlings PricewaterhouseCoopers together with Lund University Development AB (LUAB) award an Innovation prize worth a total of 250 000 SEK. The point of the prize is to stimulate innovation in the county of Skåne, thus creating more growth companies.

The prize is intended for ideas/projects at research level, preferably with a cross-scientific approach.

LYYN was one of the two projects that received an honorary nomination with the motivation:
” The project combines many years of technical development with research within different disciplines which leads to practical solutions of everyday problems such as orientating in fog.”

The prize is shared by the inventors Olle and Anders Holm, and Andreas Ekengren who started LYYN AB.

”It’s not so much the money, it’s more the honour of receiving this award after all the hours we have invested. It is fantastic that it has led to something that has a real use and potential. It’s a real spur to be recognized in this way when you consider how many entrepreneurial companies there are in this region.” says Andreas Ekengren, CEO, LYYN AB.

Read the press release in Swedish or English.

LYYN AB today announces its partnership with Axis Communications AB

The partnership with Axis is very exciting for LYYN. Through Axis’ market dominance in network-based video surveillance LYYN can reach out to a large amount of customers with LYYN V.E.T. Axis currently has around 400 000 video products installed and around 2500 retail partners throughout the World.

LYYN see Axis’ inclusion of LYYN V.E.T in its product portfolio as a clear confirmation of our technology’s broad area of use and demonstrates its importance in the day-to-day security and surveillance business.

Read the press release in Swedish or English.

Ny Teknik - Sweden's largest technical news magazine -
publishes an article about LYYN.

Link to the article

(in Swedish)