HELSINKI, Jan. 14, 2016 — Tekes, the Finnish Funding Agency for Technology and Innovation, will provide €3 million (about $3.25 million) to fund a joint project on optical measurement, the goal of which is product development and commercialization. The project, called Terävä, is expected to produce a measurement system worth an estimated €125 million in potential revenue. One applications of the technology is quality control of web-like products, and the group is also tasked with identifying new applications within medical, food, packing and electronics industries, Tekes said. The primary research parties involved are Valmet Automation Ltd., the VTT Technical Research Center and Tempere University of Technology. Several small- and medium-sized companies that produce optical measurement technology are also involved: Spectral Engines Oy, Oplatek Group Oy, Advacam Oy, Offcode Oy, TimeGate Instruments Oy, Rikola Ltd., FocalSpec Oy and Kemira Oyj. For more information, visit www.tekes.fi.