- May 18, 2024
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Galtronics Telemetry has downsized from 15 employees to four, but the president says they’re not closing.
Galtronics Telemetry Inc., a Palm Coast-based research, development and marketing firm, has no plans to close its doors, according to the company’s president, Sean Lafferty.
“The operating name of Galtronics Telemetry Inc. may change, and a lot of the staff will be changing as well,” Lafferty said in a Nov. 10 interview. “But rest assured, we are not going out of business.”
Galtronics is a research, development and marketing firm, currently working on an energy-management system engineered to help energy users better understand their usage and become more efficient.
The product, symHome, was released in beta mode as part of a pilot program in February. Lafferty said in a statement to the pilot participants that there were major computational errors in the system, and the device will be taken back.
“As a result, we have to redesign some of the core components of the system,” he said.
At its peak, Galtronics’ Palm Coast office staffed 15 employees. Currently, there are four employees, but Lafferty expects that to jump back up to double-digits by 2013. Palm Coast employees will mostly be support and sales positions.
Lafferty said the previous in-house engineering team wasn’t able to deliver a final, market-ready product within the anticipated timeline. A second investor has been found, however, and the company is in the process of securing funding for the company and the product.
Beau Falgout, senior economic development planner with the city, said Palm Coast entered into a performance-based agreement with Galtronics in January 2010.
According to Falgout, the city has provided incentive payments to Galtronics totaling $1,460.45 spanning the last 23 months. All of the money has come from the economic development budget.
“While the company has encountered setbacks in rolling out its product, we are hopeful that once the engineering challenges are overcome, Galtronics Telemetry Inc. will be successful in selling its products worldwide and help grow our local economy,” Falgout said.
In the meantime, Galtronics will continue to have a Palm Coast office, and hopes to launch a new product in June 2012.
Contact Andrew O’Brien at [email protected].
