This thesis describes the construction of a dual species setup using fermionic 40K and bosonic 87Rb with the goal of cooling to ultracold temperatures and quantum degeneracy, and also perfoming precision collision experiments using a novel optical collider. The setup is composed of a dual species magneto-optical trap, with transfer to an ultrahigh vacuum science cell achieved using a mechanical transport scheme. Atoms are cooled to ultracold temperatures using forced radio frequency evaporation in a Ioffe-Pritchard style magnetic trap. The optical collider utilises the optical dipole force to trap a sample of ultracold atoms and accelerate them towards a target sample using an acousto-optic modulator. The process of cooling 87Rb atoms in the |F = 2, mF = 2> hyperfine state to Bose-Einstein condensation is described, as well as progress towards production of ultracold 40K. Design, implementation, and characterisation of the optical collider is provided, showing that it is a precision metrology device.