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The Scottish-owned company, which also has two US operations, is the world leader in the development of wireless systems, specifically for through-water, and through-ground communications, sensing and navigation.
The technology is being successfully applied in environmental monitoring, communications with unmanned vehicles under ice and will benefit emergency situations such as earthquakes or the collapse of buildings.
Invest NI has pledged over £390,000 towards the project, which includes part funding from the European Regional Development Fund, to support product and skills development activities at the firm's new R&D hub in Belfast.
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Mr Hamilton said: "The technology that WFS develops is unique and highly innovative, indeed they have a significant number of patent applications in Europe and the US.
"For Northern Ireland to play a key role in the creation of even more advanced products for such specialised markets is a true vote of confidence in our local research capability.
"The new R&D hub will further strengthen links between industry and local universities, enhancing Northern Ireland's reputation for world-leading innovation."
Brendan Hyland, Chairman and Chief Executive of WFS, said: "Turnover has quadrupled in the last 12 months but we recognised the need to continually improve existing products and develop new concepts in order to sustain growth and enter new markets and sectors.
"The Belfast R&D centre will be crucial in helping us to explore these development opportunities and ensure we can take new products to market as soon as possible."
(PR/JM)
