Intense secures £ 5 million for business development
August 19, 2004 Glasgow, UK -- Intense Photonics Ltd., developer and manufacturer of optical components and modules for high-volume sectors, has announced the completion of a further £ 5 million ($9.2 million) funding round.
August 19, 2004 Glasgow, UK -- Intense Photonics Ltd., developer and manufacturer of optical components and modules for high-volume sectors, has announced the completion of a further £ 5 million ($9.2 million) funding round. All the company's financial investors--3i, ACT Venture Capital, Alice Ventures, Cazenove Private Equity, FNI Venture Capital and TTP Ventures--are taking part in the new round.
The additional funds provide Intense with development capital to expand its project-based business, which includes the design and volume fabrication of optoelectronic components and modules. Intense will also be adding more optical semiconductor fabrication capital equipment, particularly in the area of module packaging.
"We are working in markets that benefit from optical integration and have significant volume requirements, and this funding gives us the working capital to extend our lead in these business areas," contends David Lockwood, CEO of Intense. "Over the last two years, we have built a dynamic enterprise with a substantial blue chip client base."
Intense reports that it is currently generating significant revenues in defense, printing, and telecom through product designed and manufactured in volume at its facility in High Blantyre.
The company's commercial success stems from its unique quantum well intermixing (QWI) process for fabricating optical devices and its sustained investment in resources for handling design projects from concept to volume production.
Two previous funding rounds raised over £ 21 million. Staff levels have increased significantly over the last year to handle project work, and the headcount of over 70 now incorporates a range of skills to complement the enterprise's initial optoelectronic design and manufacturing base.
Intense's core business is the manufacture of singlemode laser arrays packaged into modules and sub-systems. It also offers multi-function integration primarily to the defense and telecoms sectors.