Germany's Merck KGaA (XETRA: MRK) has increased its stake in Qlight Nanotech Ltd. to 50%, after a further investment of several million dollars in the Yissum Technology Transfer Company of the Hebrew University of Jerusalem portfolio company. Qlight will use the investment to expand development of its semiconductor nanoparticle-based technology and to address a broader customer base.
Qlight and Merck have a joint R&D program to develop semiconductor nanocrystal materials for LED lighting and flat panel displays. Qlight was founded in 2009 and Merck first invested in the company in 2012 with the support of the Ministry of the Economy's Multinational Company Cooperation Program.
In October, Qlight has unveiled its innovative nanoparticle optical film technology for liquid crystal displays on flat panels, improving the displays' color spectrum and halving their energy consumption, thereby extending battery life of mobile devices.
Qlight scientific founder Prof. Uri Banin said, "This is a significant step in the commercialization of our nanocrystal-based technology. Materials and phenomena that we studied in the laboratory and invented only yesterday are now leading to a variety of exciting new applications in flat panel displays and lighting. Qlight Nanotech uses an array of advanced capabilities in nanotechnology we established at Hebrew University and this is an important factor in making this achievement."
Qlight chairman and Yissum CEO Yaacov Michlin said, "In collaboration with Merck, we are addressing leading customers in the flat panel display field. This will lead to products with significant energy savings and color range improvements in both lighting and flat panel displays."
Published by Globes [online], Israel business news - www.globes-online.com - on November 19, 2013
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