Powerphotonic gets funding shot in the arm

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

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.

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

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 Heriotwatt 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.