Merck acquires interest in QLight Nanotech

Merck acquires interest in QLight Nanotech

4:40 AM, 23rd May 2012
Merck acquires interest in QLight Nanotech

DARMSTADT, GERMANY/JERUSALEM, ISRAEL: Merck is acquiring an interest in QLight Nanotech, a spin-off subsidiary of Yissum. QLight Nanotech develops products for use in displays and energy-efficient light sources based on semiconductor nanoparticles known as quantum dots. The transaction is expected to close in the second quarter of 2012. With this investment Merck will hold an equity stake in the Israel start-up company.

For more than three years, QLight Nanotech and Merck have been carrying out joint research into this new class of materials as part of a partnership programme sponsored by the Israeli Ministry of Industry, Trade and Labour. Merck’s investment will help the company to accelerate the development of quantum dot-based technology for new applications. Upon the achievement of R&D milestones, Merck could further increase its stake in QLight Nanotech, as well as develop and commercialize the new products in its Performance Materials division.

“Our investment into QLight Nanotech reflects our belief in the promise of the new technology based on quantum dot materials, particularly for the next generation of displays. We are excited to gain access to this technology and work with QLight Nanotech as an entrepreneurial organization that is flexible, fast and innovative,” said Volker Hilarius, Director, Scouting and Alliances, Technology Office Chemicals, Merck.

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