Merck acquires interest in Israeli start-up QLight Nanotech
Merck Expands Capabilities on Novel Materials for Display and Lighting
Merck announced that within the scope of a capital increase by the Israeli start-up company QLight Nanotech, it is acquiring an interest in the Jerusalem-based company. QLight Nanotech is a spin-off subsidiary of Yissum, the technology transfer company of the Hebrew University of Jerusalem. 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. Further financial details were not disclosed.
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 program sponsored by the Israeli Ministry of Industry, Trade and Labor. 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.
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