Powerlase, a manufacturer of nanosecond Q-switched, diode-pumped solid state (DPSS) lasers, has secured significant funding from an investor group that includes MTI Partners, Deutsche Venture Capital, DJF Esprit LLP, Alice Ventures and FNI Venture Capital.
Powerlase will use the funding injection to further develop its technology for new markets. Continued research and development will aid Powerlase in securing customers in new market sectors including photovoltaic, AMOLED displays, micromachining and laser patterning.
Powerlase's technology is designed to improve manufacturing efficiencies. The focus on high growth sectors, led to record orders at the close of 2008. This latest investment will arm Powerlase with an enhanced ability to meet the growing demand for its market-leading laser systems in 2009 and beyond.
'We've always designed our lasers and applications with the customer in mind, ensuring we can meet their specific manufacturing requirements, streamline processes and reduce cost,' commented Les Lockwood, CEO at Powerlase. 'The changing economy has led customers to place a greater focus on efficiencies and clean technologies. This investment will ensure we can meet the increasing demand for high performance, high productivity laser technology.'
David Ward, managing partner and VP MTI Partners, said: 'We're excited at the potential of Powerlase technology. The company has shown a fantastic ability to identify new applications for its laser technology and we're confident that its global leadership from a customer-led product development perspective will be increased with this investment.'