Intense Receives $2.5M Funding
GLASGOW, U.K. -- Noble Venture Finance, part of Noble Group, has provided a £2.5m finance facility to support Intense Ltd.’s continued growth. Formerly Intense Photonics Ltd., the company is a UK-based global provider of laser module and optoelectronic integration solutions for a broad range of industry sectors including printing, medical and defence.
Intense works closely with customers to ensure they create next-generation, custom-built products that help them dominate their markets. The company owns extensive intellectual property covering process, device and module technology, making it even easier for firms to use this revolutionary technology in an industrial setting.
Intense was also winner of the ‘Innovation and Creativity Award’ from the Lanarkshire Business Excellence Awards in March 2005.
Noble Venture Finance provides asset-backed finance to growth companies throughout the E.U., alongside the investment in these companies by established venture capital firms. Venture finance typically comprises leases, loans or hire purchase facilities to provide working and/or fixed capital for assets such as manufacturing equipment, computers, telecommunication systems, laboratory test and measurement and other equipment. The fund provides these companies with financing of between £500,000 and £2.5m in the form of equipment leases, loans or hire purchase agreements in return for a running yield and an equity kicker of between 20% and 25% of the value of the facility.
Henry Chaplin, Chief Executive of Noble Fund Managers said "The Venture Finance team have known Intense since 2000 when it was spun out from The University of Glasgow. We have been very impressed by Intense’s success to date and are very excited to be participating in this exciting new growth phase for the business as it expands into new sectors like printing. This is exactly the sort of success that British industry needs as one of its companies moves from world leading R&D to full scale manufacture in under five years.”
“We have big plans to build our client base and increase market share over the coming year, particularly in the printing industry,” said David Lockwood, CEO of Intense. “We have some highly versatile new solutions to bring to the market that will help businesses improve products and generate revenue. The Noble investment is a crucial part of this strategy.”
Mark Taylor, Chief Executive of Noble Venture Finance said “I am delighted to be working with David Lockwood again as he and the team have made immense progress since we first met”.