A DALGETY BAY firm recognised as a world leader in micro-optics has received a funding boost of almost £1 million.

PowerPhotonic Ltd, based in St David's Business Park, designs, manufactures and sells precision micro-optics worldwide for the laser industry and the cash injection will allow them to create 16 permanent highly-skilled jobs in West Fife over the next three years.

The firm, established in 2004, have received a £750,000 package from Clydesdale Bank's Growth Finance Team, as well as a £245,000 Regional Selective Assistance grant from Scottish Enterprise.

The cash will help them into a new phase of growth as they establish a new operating facility, which will grow their capacity and ability to meet market demands.

PowerPhotonic has developed a commercial technology out of research undertaken at the world-renowned Institute of Photonics and Quantum Sciences at Heriot-Watt University, and markets its products in the materials processing, medical, telecoms, scientific and defence industries.

Roy McBride, the company's managing director, said: "Our unique optics are in growing demand worldwide.

"This funding will enable us to increase our capacity, including building a new state-of-the-art class 1000 clean room facility.

"We look forward to working with the Clydesdale Bank as we move into this next exciting stage of our company development."
Christopher Kennedy, of Clydesdale Bank’s Growth Finance Team, added:

"It is fantastic to help such an IP-rich, growing company, especially one which is able to bring so many skilled positions to the local area. 

"We look forward to seeing how PowerPhotonic continues to expand over years to come."