Merck acquires liquid crystal windows (LCW) specialist
Cooperation partner Peer+ becomes a wholly owned subsidiary of Merck
Merck is acquiring the Dutch specialist for smart window technology Peer+ as of July 1, 2014. The two companies have agreed not to disclose the purchase price.
Merck is pursuing a strategy of leveraging its expertise as the global market leader in liquid crystals in order to develop new fields of application for innovative liquid crystal technology. With the acquisition of its long-standing cooperation partner Peer+, Merck is further advancing the development of the future-oriented market for liquid crystal windows and is bolstering its position as the technology and innovation leader for liquid crystal materials also for applications far from displays. The major innovation of liquid crystal windows lies in their ability of continuously variable switching from light to dark in just seconds. The optimally controlled light and temperature management can thus decisively improve the energy efficiency of a building. In addition, the smart windows technology opens up totally new architectural possibilities.
Merck and Peer+ have been cooperating closely since 2011 to develop a market-ready product and production concept for liquid crystal windows. In 2012, the cooperation partners entered into a shareholder agreement under which Merck acquired 70% of the capital interest in Peer+. Merck is now also acquiring the remaining 30%, including around 3% from the Eindhoven University of Technology (TU/e), which co-founded Peer+ in 2008 and has been intensively supporting it since then.
In the future, Merck will concentrate the research and development activities of the liquid crystal windows technology at the Peer+ site in Eindhoven, the Netherlands. Merck will not produce the liquid crystal windows itself. “We see ourselves as an advisor and technology supplier for the industry. We aim to become the leading supplier for liquid crystal materials for the production of smart windows. The liquid crystal technology has proven itself in display applications for decades. It has great potential for revolutionary new applications, such as smart windows, and as the technology leader we want to develop these new markets with strong partners,” says Walter Galinat, Head of the Performance Materials division at Merck, explaining the reasons for the acquisition of Peer+.
“Together with cooperation partners in the glass and facade technology sector, we want to develop the liquid crystal windows technology ready for mass production. With our expertise and experience in research and development as well as pilot production, we can acquire a pioneering role in the smart windows market and effectively support the industry in integrating this technology into mass production,” says Michael Heckmeier, Head of LC Research and Development in the Performance Materials division.
Peer+ has already built an R&D production line for small quantities in Eindhoven. This shows how to integrate the concept of liquid crystal windows into industrial settings. “In the next step, we are planning together with our partners a pilot line for custom-tailored projects in the premium segment of glass facades. We plan to enter the market with our first pilot projects already in 2015,” says Managing Director of Peer+ van Oosten.
As part of its “Fit for 2018” transformation and growth program, besides efficiency improvement measures Merck is also driving initiatives and investments for securing future growth, also including the acquisition of Peer+.
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