TV parts maker DLP wins £1.1m backing

INVESTORS have pumped £1.1 million into a Livingston-based electronics company that makes parts for ultra-slim televisions.

Perth-based investment manager Braveheart led the group investing in Design LED Products (DLP), including Siemens, Portfolio Funds, Scottish Enterprise's co-investment fund and a number of individuals.

The investment is the third that Aim-listed Braveheart has made in DLP, which was founded in 2004.

The funding will allow the company to move into the fast-growing market for providing sources of light for very thin televisions, replacing components already used in the sets.

The firm makes light emitting diodes (LEDs) - tiny components that give out light but are more energy efficient and last longer than traditional light bulbs - which it uses to make very thin displays.

Chief executive Stuart Bain said: "This investment is a testament to the technology and gives DLP an excellent platform from which to gain significant market share."

As revealed in Scotland on Sunday last month, DLP has also signed a deal with Scottish Enterprise to commercialise LEDs developed by its Intermediate Technology Institutes (ITIs).