Germany's Merck KGaA (DAX: MRK) has acquired an equity stake in QLight Nanotech Ltd., which is developing products for use in displays and energy-efficient light sources based on semiconductor nanoparticles known as quantum dots. The investment will help the company develop quantum dot-based technology for new applications. The companies did not disclose the financial details of the investment.
QLight Nanotech and Merck have been conducting joint research into this new class of materials for the past three years. Merck could further increase its stake in Qlight Nanotech, depending on reaching R&D milestones, as well as develop and commercialize the new products.
Based in Jerusalem, QLight Nanotech is a spin-off of Yissum Technology Transfer Company of the Hebrew University of Jerusalem.
QLight Nanotech scientific founder Prof. Uri Banin of Hebrew University, said "I am excited that our basic science discoveries on semiconductor nanocrystals are now being realized in innovative technological applications. The partnership with Merck, a world leader in materials for display applications, is a synergistic one allowing us at Qlight Nanotech to implement advanced chemicals manufacturing and applications’ know-how."
Qlight Nanotech CEO Kobi Olin said, “This is a major development for Qlight Nanotech to position us on the runway for becoming a leader in the emerging semiconductor nanoparticle materials and applications field. The Merck partnership is a strategic connection that will enable QLight Nanotech to achieve accelerated technology development and growth in collaboration with major international customers."
Published by Globes [online], Israel business news - www.globes-online.com - on May 22, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012