Powerlase Secures Funding Injection to Cement Global Laser Leadership in 2009
- Powerlase secures new Venture Capital funding
- Investment ensures Powerlase can meet increasing demand for laser solutions in 2009 and beyond
Powerlase Limited, manufacturers of the world’s most powerful nanosecond Q-switched, diode-pumped solid state (DPSS) lasers, today announces that significant investment has been secured from an investor group including; MTI Partners, Deutsche Venture Capital, DJF Esprit LLP, Alice Ventures and FNI Venture Capital.
Having established an enviable position as the laser manufacturing technology of choice for the majority of the world’s plasma display panel television (PDP) output, Powerlase will use the funding injection to further develop its world class 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.
The funding deal has been completed with a five investment firms; MTI Partners, Deutsche Venture Capital, DJF Esprit LLP, Alice Ventures and FNI Venture Capital.
Company comments
“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 costs” comments 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 Inc. says; “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.”
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.
In 2008, Powerlase was awarded the Queen’s Award for International Trade. The company also won The Manufacturer Award for Best Design and Innovation 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