Tech firm expanding
Photonics raises funds to meet demand
PowerPhotonic a Dalgety Bay-based designer and manufacturer of micro-optics for the laser industry, has received a £750,000 finance package to help set up a new operating facility and help meet demand.
The company, established in 2004, has developed technology instigated at the Institute of Photonics and Quantum Sciences at Heriot-Watt University, Edinburgh.
It designs, manufactures and sells precision micro-optics worldwide for the laser industry. The main applications are in the industrial materials processing, medical, telecoms, scientific and defence markets.
Clydesdale Bank will fund expansion which will include 16 additional jobs over three years.
The company has received a Regional Selective Assistance grant of £245,000 from Scottish Enterprise, which brings the total funds raised for the growth project to almost £1m.