Merck has increased its stake in the Jerusalem-based company Qlight Nanotech, which develops products for advanced displays and energy-efficient lighting. The Israeli start-up was formed as a spin-off of Yissum, the technology transfer company of Hebrew University of Jerusalem. Merck already invested in Qlight Nanotech in 2012. This equity stake has now been raised. Further financial details are not being disclosed.
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Merck’s continuous investment will allow Qlight Nanotech to increase its efforts in the development of its semiconductor nanoparticle-based technology and to address a broader customer base. Within the scope of a joint research program, Merck has been cooperating with Qlight Nanotech since its foundation. The program was continuously supported by the Israeli Ministry of Industry as part of its Multinational Company Cooperation Program.
Bjorn Hofman, Senior Vice President of Advanced Technologies within the Merck Performance Materials division, said, “This second investment of Merck will allow Qlight Nanotech to increase its capacities and accelerate the development of its exciting technology. Deepening our collaboration with Qlight Nanotech signifies our confidence in the potential of the new technology, especially for the next generation of display screens.”
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Merck’s continuous investment will allow Qlight Nanotech to increase its efforts in the development of its semiconductor nanoparticle-based technology and to address a broader customer base. Within the scope of a joint research program, Merck has been cooperating with Qlight Nanotech since its foundation. The program was continuously supported by the Israeli Ministry of Industry as part of its Multinational Company Cooperation Program.
Bjorn Hofman, Senior Vice President of Advanced Technologies within the Merck Performance Materials division, said, “This second investment of Merck will allow Qlight Nanotech to increase its capacities and accelerate the development of its exciting technology. Deepening our collaboration with Qlight Nanotech signifies our confidence in the potential of the new technology, especially for the next generation of display screens.”