Intense Wins £5M Funding

Intense Photonics closes £5M funding round in development capital for its optoelectronic components and modules

August 23, 2004

1 Min Read

GLASGOW, U.K. -- Intense, the fast-growing developer and manufacturer of optical components and modules for high-volume sectors, announces the completion of a further £5 million (~US$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", says David Lockwood, CEO of Intense. "Over the last two years we have built a dynamic enterprise with a substantial blue chip client base."

"We're particularly pleased to have the continued backing of all our investors", adds Lockwood. "It confirms their confidence in us, and in our strategy."

Intense is currently generating significant revenues in defence, printing and telecoms, through product designed and manufactured in volume at its state of the art facility in High Blantyre.

Intense Photonics Ltd.

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