SEMEFAB, the Glenrothes- based electronics company has secured a six-figure grant from Scottish Enterprise as it looks to stay at the forefront of the UK’s micro and nano technology network (MNT).

The company, which sells integrated circuit semiconductor devices and micro electro-mechanical systems (MEMS) to the medical, automotive, industrial and consumer markets, has received £220,000 of backing in the shape of a Regional Selective Assistance (RSA) grant.

It will use the investment to pursue new technologies and become more efficient at its silicon wafer foundry in Fife.

And the firm, which hopes the investment will lead to three further full-time jobs, hopes to continue its expansion on the world stage further to the backing.

Semefab exported more than 85 per cent of its output to Europe, the US and the Far East in 2014/15.

Alan James, joint managing director of Semefab said: “We really appreciate this support from Scottish Enterprise. The investment is an important step in our drive to reduce lead times and fully utilise the capacity of our three wafer fabrication facilities here in Glenrothes.”

Semefab said it currently has no UK-based competition for its systems and devices. It has identified the “internet of things” as a key opportunity for growth, highlighting the potential for its devices in products such as mobile phones and wearable technology.

Paul Wheelhouse, Scottish Minister for Business, Innovation and Energy, said: “I am very pleased to welcome this investment into Semefab, meaning they can export their innovative products around the world and provide a boost for Scotland’s economy.”