04 Sep 2017
Scottish micro-optics manufacturer receives six-figure funding package for new plant, staffing.PowerPhotonic, a developer of micro-optics for the laser industry, has announced plans to invest in a new facility that will treble its current manufacturing capacity.
In a move, which is scheduled to be completed by the end of 2018, the company will transfer its operations into a larger, 15,820 ft2 (1470 m2) facility at the St David’s Business Park, Dalgety Bay, Scotland, to capitalize on global growth opportunities. The investment will include the creation of a new class 1000 clean room facility, which expands production capacity for PowerPhotonic’s micro-optic technology.
The company recently secured around £1 million of financing through the combination of a Clydesdale Bank finance package and a Regional Selective Assistance grant from Scottish Enterprise.
The finance package will propel the company into a new phase of growth in the new operating facility, growing its ability to meet market demands. The growth will include bringing 16 new permanent highly-skilled jobs to the local area over the next three years.
The company, established in 2004, says it is “recognized as a world-leader in the field of micro-optics” following its development of a commercial technology from research undertaken at the Institute of Photonics and Quantum Sciences at Heriot-Watt University, Edinburgh.
PowerPhotonic manufactures micro-optics into the global laser industry. The main applications are in the industrial materials processing, medical, telecoms, scientific and de-fence markets. Its products are currently exported worldwide, including across the EU, North America and Asia.
Dr Roy McBride, Managing Director at PowerPhotonic, said, “These plans represent a major expansion to our business and will significantly grow our production capacity. Demand for PowePhotonic’s unique micro-optic technology has been growing fast across a wide spectrum of worldwide laser applications. Our expansion plan will enable us to capitalise on this and future demand.”