The MARSEC-XL Foundation has filed a judicial protest against Economic Services Minister Chris Cardona following comments he made on a television programme on Saturday evening.

Dr Cardona had said that the police were called in after the company allegedly misappropriated up to €2 million given to it as a government grant, a claim which the company had immediately denied.

The company said the minister's comments were incorrect and harmed the reputation of the internationally recognized MARSEC-XL brand.

The foundation said the funding referred to by Dr Cardona was received by MI-SE@MALTA Foundation as seed funding between 2008 to 2013 and did not exceed €1.3 million. The spending was closely monitored by the MI-SE@MALTA Foundation council, including council members appointed by the Government.

Furthermore, the funding was forwarded in quarterly tranches according to a transparent seed funding policy and based on performance as documented in regular reports to the relevant ministry.

The funding was used in its totality for research and education purposes within marine software engineering, including wages for the Maltese workforce, and training and education of the Maltese workforce locally and abroad. The research and development activities at MI-SE@MALTA Foundation produced tangible results and contributed to the advancement of the maritime hi-tech sector in Malta and worldwide, improving safety at sea and efficiency of maritime operations.

"The use of government funds in no way constituted any form of misappropriation," the foundation insisted.