An investigation of Tm-Ho energy transfer in Tm(5at.%),Ho(0.4at.%):KYW single crystal by two independent techiques was performed. Based on fluorescence dynamics measurements, energy transfer parameters P<sub>71</sub> and P<sub>28</sub> for direct (Tm→Ho) and back (Ho→Tm) transfers, respectively, as well as equilibrium constant Θ were evaluated. The obtained results were supported by calculation of microscopic interaction parameters according to the Förster-Dexter theory for a dipole-dipole interaction. Diode-pumped continuous-wave operation of Tm,Ho:KYW microchip laser was demonstrated, for the first time to our knowledge. Maximum output power of 77 mW at 2070 nm was achieved at the fundamental TEM<sub>00</sub> mode.
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