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Posted: August 9, 2010
Nanosys and Samsung Enter Alliance to Accelerate Commercial Applications of Nanomaterials for the Electronics and Solar Markets
(Nanowerk News) Nanosys, Inc., an advanced materials architect, and Samsung Electronics Co., Ltd., a global leader in semiconductor, telecommunication, and digital technologies, today announced a strategic alliance and licensing arrangement to accelerate the development of commercial applications of nano-architected materials for the electronics and thin film solar markets. Under the terms of the deal, Samsung Electronics will contribute funding and resources to co-develop products using Nanosys technologies, in addition to $15 million equity investment from the affiliated Samsung Venture Investment Corporation.
"We believe that working closely with Nanosys will help us to develop exciting new products for our customers that will address needs in the world's largest markets across a number of technologies," said Seungho Ahn, Senior Vice President of the Intellectual Property Center, Samsung Electronics.
"Samsung is a clear leader in the electronics and solar sectors," said Jason Hartlove, CEO of Nanosys. "Not only does Samsung bring deep knowledge of solar, memory and display technologies and markets, they bring tremendous experience in scaling up new technologies, which will help us accelerate the development, production and market introduction of devices enabled by our nano-architected materials."
Samsung's equity investment will come from Samsung Venture Investment Corporation, with at least an additional $10 million in total from previous venture capital investors including Arch Venture Partners, El Dorado Ventures, Polaris Venture Capital and Venrock.
With this arrangement, Samsung and Nanosys will work together to create a new generation of cost effective, higher-efficiency products in the fields of solar, LED, memory, semiconductor, and display.
About Nanosys, Inc.
Nanosys, Inc. is an advanced material architect, harnessing the fundamental properties of inorganic materials into process ready systems that can integrate into existing manufacturing to produce vastly superior products in lighting, electronic displays, solar power and energy storage. For more information, visit www.nanosysinc.com.