Evonik invests in Finnish nanophotonics company
Evonik has invested in Nanocomp Oy Ltd. (Lehmo, Finland) and now holds a minority share in the company. It was made as part of an investment syndicate with Finnvera Venture Capital. The investment sum was not disclosed. Nanocomp is a leading developer and producer of micro- and nano-optical structures that are imprinted on polymer films. Their functionalities enable optical systems to achieve higher performance—and to become smaller at the same time.
Nanocomp’s innovations in nanophotonics give access to light management techniques that cannot be achieved with conventional optics: Cameras are enabled to recognize gestures even in 3D and surgeons can rely on better image quality for minimally invasive operations. Information on displays is easier to read—even in difficult lighting conditions. Nano-optical structures are also needed in so-called augmented reality, for example in glasses where additional (virtual) information is phased into one’s field of view by an integrated mini-computer.
"Nanocomp’s activities have a high strategic fit with Evonik’s business," explains Dr. Bernhard Mohr, head of Venture Capital at Evonik. "The progress both in digitalization and in the use of human/machine-interfaces calls for the miniaturization of the functional optical elements. With their know-how, Nanocomp is a pioneer in this area. For Evonik this is a door-opener to highly attractive growth markets."
Veli-Pekka Leppänen, CEO of Nanocomp, says: "We are pleased to have gained Evonik as a strategic investor. Now, we want to expand production and tap into new markets. As a strategic investor, the impact of Evonik’s investment will be to enable us to accelerate the development and marketing of innovative applications."
Nanocomp uses innovative light-guide films from Evonik for manufacturing micro- and nano-optical structures. The Finnish company owns a unique technology (roll-to-roll-based), where the structures are imprinted onto the films in a highly efficient and precise way. Nanocomp’s products are already used in state-of-the-art display illumination and in laser sensing solutions. Within the consumer electronics market, the company achieves yearly revenues in the medium single-digit million euro range.
Evonik plans to invest a total of €100 million in highly promising start-ups with break-through technologies and leading specialist venture capital funds as part of its venture capital activities. These investments will focus on Europe, the U.S. and Asia. Partnering with innovative start-up companies supplements Evonik’s approach of open innovation and creates excellent opportunities for accelerating the development of new businesses and opening up future growth fields.
Finnvera manages a €133-million technology fund and is one of the most active investors in Finland.
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