Printer targeting overseas markets
DPi Print is creating 10 new jobs after securing a six-figure funding package.
The £850,000 will be used to build a prototype of one of the largest and fastest commercial printing machines available.
The machine - named Behemoth - is being launched at a European trade show before the end of the year and will cost £500,000.
Clydesdale Bank has backed the Lanarkshire business through the Enterprise Finance Guarantee scheme and Scottish Enterprise are also supporting the technology development.
DPi expects to sell between s6m and s10m worth of Behemoths during the next three years.
Geoff Hall, managing director, said: "We are extremely excited about developing a prototype of the Behemoth there is a great deal of demand for this type of large format, environmentally sustainable printing device across the world, and this will be a cutting edge piece of technology. It is a real coup for Scotland.
"The machine will use water-based ink and will be capable of printing directly onto environmentally friendly materials there is no other device like this available on the market.
"We anticipate that the launch of the Behemoth will generate a great deal of interest from printing businesses in North America, Europe and South East Asia."
DPi employs 15 people at the moment and had a turnover of £1m in 2010.
Neil Berry, business development partner at Clydesdale Banks Glasgow financial solutions centre (FSC), said: "DPi Print is an excellent example of a Scottish business with big ambitions to grow internationally.
"The production of the Behemoth will bring a whole host of benefits to the central belt of Scotland most notably in the form of economic development of the region through exporting this state-of-the-art product to overseas markets."