Funding boost for Fife laser tech outfit PowerPhotonic

PowerPhotonic, a designer and maker of micro-optics for the laser industry, has received a £750,000 finance package from Clydesdale Bank.

PowerPhotonic, based in Dalgety Bay, is recognised as a leader in the field of micro-optics. Picture: Contributed

Founded in 2004, the Dalgety Bay-based business said the funding would “propel the company into a new phase of growth” as it establishes a new operating facility.

• READ MORE: Angels smile on four growing firms with £3.9m boost

“The growth will include bringing 16 new permanent highly skilled jobs to the local area over the next three years,” PowerPhotonic said.

The group is recognised as a world leader in the field of micro-optics, and has developed a commercial technology out of research done at the Institute of Photonics and Quantum Sciences at Heriot-Watt University, Edinburgh.

200 Voices: find out more about the people who have shaped Scotland

As part of its expansion plans, it has also been successful in applying for a regional selective assistance grant of £245,000 from Scottish Enterprise. That takes funds raised for business growth to almost £1 million.

Click here to ‘Like’ The Scotsman Business on Facebook