A Crawley based independent laser manufacturer is set for growth after securing funding from the Coast to Capital Expansion Loan Scheme.
Founded in 2009, Powerlase Photonics has accelerated the introduction of high power lasers into a variety of industrial applications worldwide, chiefly in materials processing, annealing, ablation, de-painting and cleaning. The company specialises in the design and development of innovative state-of-the-art process solutions for flat panel displays, photovoltaic, microelectronics, EUV, machine tool, automotive, and aerospace markets.
The £200,000 funding will be primarily used to focus on the sales and marketing strategy, allowing Powerlase Photonics to enter new markets and expand their client reach. The company also plan to increase their staff numbers significantly at their UK headquarters in Crawley, West Sussex.
Dr Young Kwon, Managing Director at Powerlase Photonics, “The funding allows us to press ahead with our expansion plans and focus on the emerging markets both in Europe and Overseas. We have seen a rise in the demand for high power pulsed lasers over the last couple of years. More and more businesses are accepting the need for lasers in the manufacturing of their products, especially in the automotive and aerospace sectors.”
Ian Baker, Senior Fund Manager at the FSE Group, “In a growing market we believe that the extensive experience and knowledge of Young Kwon and his team can lead to more success for Powerlase Photonics. We are delighted to be supporting the company and look forward to working with them whilst they achieve their growth ambitions.”
The Coast to Capital Funding Escalator is a £5million initiative funded by Coast to Capital LEP. The escalator, which includes an expansion loan scheme and a growth equity fund, provides eligible companies with loans and equity funding between £50,000 and £500,000 for activities that will deliver high-growth and employment opportunities.
For more information about the Coast to Capital Funding Escalator please visit www.thefsegroup.com/coast-capital-funding-escalator or contact Ian Baker at email@example.com tel: 01276 608517.
For more information about Powerlase Photonics please visit: www.powerlase-photonics.com