Emerging technology loan finances TeraDiode equipment and lab

Boston, MA - MassDevelopment, an economic development organization in Massachusetts, has provided a $2 million term loan from its Emerging Technology Fund to TeraDiode Inc., a Wilmington company working on new technology that makes ultra-high brightness direct diode lasers for industrial applications, including steel cutting and steel welding.

TeraDiode, which began leasing a 25,000 sq ft facility in Wilmington last year, will use loan proceeds to buy equipment for assembly, testing, lab and office uses, lab construction, and working capital for assembling lasers. 

TeraDiode was founded in 2009 to commercialize wavelength-beam-combining direct diode laser technology, which is the third generation of kilowatt class high brightness industrial lasers. The company says that direct diode is inherently the lowest cost, most compact, and highest efficiency industrial laser.

When used with wavelength beam combining, the laser also has the brightness previously provided only by larger, higher cost, and more power-consuming CO2, disk, and fiber lasers. Wavelength beam combining was invented and patented by the Massachusetts Institute of Technology and is exclusively licensed to TeraDiode.

MassDevelopment's Emerging Technology Fund (ETF)  targets technology companies that are starting up or expanding manufacturing in Massachusetts by providing financing for working capital, manufacturing facilities, and equipment. 

The company plans to create high-technology manufacturing jobs in the next few years,. To outfit the building, TeraDiode is creating 15,000 square feet of manufacturing floor space, most of which requires a cleanroom environment and specialty alignment equipment. 

"Wavelength beam combining direct diode is a disruptive force in the industrial laser market. The loan from the Emerging Technology Fund is instrumental in scaling our operation.... The faster we scale, the more jobs we generate in the Commonwealth," said Dr. Parviz Tayebati, CEO of TeraDiode

Get All the Industrial Laser Solutions News Delivered to Your Inbox

Subscribe to Industrial Laser Solutions Magazine or email newsletter today at no cost and receive the latest news and information.

 Subscribe Now
ILS Blogs
David Belforte
David Beleforte

Let's grow LME

Mon Apr 22 08:51:00 CDT 2013

Looked at manufacturing lately?

Wed Mar 20 09:57:00 CDT 2013

Industrial laser market meets forecast

Fri Mar 08 10:59:00 CST 2013

Photonics West features ultra-fast and fiber lasers

Mon Feb 18 13:31:00 CST 2013

Follow us at Join us on

Twitter - Industrial Laser Solutions

There is no current content available.

See Article Archive

View Industrial Laser Solutions past articles.

Copyright © 2007-2016. PennWell Corporation, Tulsa, OK. All Rights Reserved.PRIVACY POLICY | TERMS AND CONDITIONS