Funding boost for Fife laser tech outfit PowerPhotonic
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
Advertisement
Hide AdAdvertisement
Hide Ad“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.
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.