Glasgow, UK, August 20, 2004--Intense, a fast-growing developer and manufacturer of optical components and modules for high-volume sectors, has completed a $9.2 million (US) funding 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", said 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 defense, printing and telecom, through product designed and manufactured in volume at its state of the art 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 $39 million (US). Staff levels have increased significantly over the last year to handle project work, and the headcount of over 70 now incorporates a wide range of skills to complement the enterprise's initial optoelectronic design and manufacturing base.
Intense's core business is the manufacture of single mode laser arrays packaged into modules and sub-systems. It also offers multi-function integration primarily to the defense and telecom sectors.