Powerlase Goes Boldly Into 2009
- Record bookings at Year End 2008
- Global Operations Expansion Provides Platform for a Strong 2009 for UK Laser Innovator
Powerlase Limited, manufacturers of the world’s most powerful nanosecond Q-switched, diode-pumped solid state (DPSS) lasers, today announces significant business growth for the year ending 31st December 2008. A 90 per cent increase in company bookings at year end has led Powerlase to predict a potential revenue increase of 250 per cent during 2009.
Despite a worsening financial climate, company revenues in 2008 matched those of the previous year. However net operating performance was significantly better than previous years as a direct result of tight cost control and improved operating efficiencies. This improvement, combined with the increase in bookings, puts Powerlase in a strong position for 2009.
During 2008, Powerlase strengthened its business position by developing innovative lasers and processes for emerging markets. A slowdown in the FPD marketplace, where Powerlase supplies lasers for 60% of the global plasma television production, led to research into photovoltaic (PV) and AMOLED display sectors. A new range of Green lasers, specifically designed to address solar cell edge deletion, laser micro-machining in automotive and laser annealing in AMOLED manufacture, has resulted in increased sales revenue projections for 2009.
The company has expanded its global footprint in 2008. A strategic partnership with French fibre laser manufacturer Eolite widened the number of applications the combined companies can address, increasing its share in the European photonics industry. Powerlase also established a wholly-owned office in Japan, in addition to existing facilities in the UK and Korea and strategic partnerships in the US.
Company comments
“By the end of 2007 we’d seen a significant slowdown in the global FPD market, which was one of our main revenue streams” explains Les Lockwood, CEO at Powerlase. “As such, we’ve consolidated our FPD strengths, whilst designing applications for the photovoltaic, laser micro-machining in automotive and OLED display markets. Positive reaction from our customers has resulted in record bookings in 2008.”
“The opening of the Japanese facility and the partnership with Eolite has put us in a very strong position to address today’s and tomorrow’s customers across the globe. We’re looking forward to a healthy 2009 for Powerlase and our customers.”
About Powerlase
Powerlase Limited is an innovative, independent, high power Laser Company, focused on Diode Pumped Solid State (DPSS) lasers developed for industrial applications primarily for use in the materials processing and microelectronics markets for flat panel displays, microelectronics, automotive and aerospace sectors.
Powerlase is supported by venture capital from MTI Partners, Deutsche Venture Capital, DJF Esprit LLP, Alice Ventures and FNI Venture Capital.
Powerlase Limited is ranked as the third fastest growing venture capital-backed company in the UK in the Daily Telegraph 2007 Business Growth Rankings and 21st fastest growing private technology company in the UK by The Sunday Times Tech Track 100 Rankings.
In 2008 Powerlase was awarded the Queen’s Award for International Trade. The company also recently won The Manufacturer Award for Best Design and Innovation 2007 for the company’s work in the development of laser systems for the manufacture of Flat-Panel Displays, Manufacturer of the Year at the Elektra Awards.
For further information
For further information, please contact:
Simon Hilliard or Roberta Main-Millar at Racepoint Group
Tel: 020 8752 3212 / 3217
Email: powerlaseuk@racepointgroup.com