Applied Ventures Broadens Portfolio with UV LED Solutions Investment
March 16 2015 - 7:30AM
- RayVio Corporation develops
semiconductor-based technology to commercialize solid state UV LED solutions for industrial,
consumer and digital health applications
- Investment extends
Applied Materials' expertise in precision materials engineering to
new applications for silicon and related growth opportunities in UV
LED solutions
SANTA CLARA, Calif., March 16, 2015 - Applied
Ventures, LLC, the venture capital arm of Applied Materials, Inc.
and a leading corporate venture firm, announced today that it has
participated in a Series B financing round for RayVio Corporation,
an advanced UV light emitting diode (LED) solutions company
developing proprietary semiconductor-based technology for
manufacturing solid state ultraviolet (SSUV) LED products and
applications. RayVio's patented technology is intended to enable
large-scale adoption of UV LEDs for the industrial, digital health
and consumer sectors, with a variety of applications to benefit
society. The funds provided by Applied Ventures will be used to
accelerate product development and to enable RayVio to provide
next-generation UV LED light sources with improved efficiency,
yield and cost. The investment also presents an opportunity for
Applied Materials to apply its expertise in precision materials
engineering to cutting-edge and potentially disruptive applications
in existing and new markets.
"Applied Ventures' strategic investment in RayVio
reflects our mission to identify and accelerate innovation around
the globe, with an eye for emerging technologies where our
leadership in precision materials engineering adds value to new
growth markets," said Dr. Om Nalamasu, president of Applied
Ventures and chief technology officer for Applied Materials. "We
are pleased to expand our portfolio to further develop UV LEDs for
promising new medical and industrial applications and beyond."
RayVio's unique, power-dense UV LED technology and
materials are compact, instantly available, robust, mercury-free,
energy-efficient and long-lasting. Potential applications include
improving the effectiveness and accessibility of disinfection
techniques for water, food, air and surfaces. This includes
industrial and consumer applications to extend food shelf life via
enhanced refrigerator systems, and printing and coating
applications to conserve energy by avoiding the need for always-on
mercury lamps or heat curing. The differentiated solution is of
particular relevance to developing countries where access to clean
drinking water is scarce, as well as for medical practitioners
using UV devices to treat health ailments ranging from vitamin D
deficiency to Multiple Sclerosis.
"We look forward to working with Applied Ventures
in furthering the UV LED technology roadmap to enable
cost-effective solutions to improve our world - from purifying
drinking water, to treating major illnesses, to instantly
disinfecting surfaces anytime, anywhere," said Dr. Robert Walker,
CEO of RayVio. "Applied Ventures brings invaluable resources as a
financial and strategic investment partner with critical precision
materials engineering expertise that can help commercialize our
first products for introduction later this year."
Since forming in 2005, Applied Ventures has
invested over $190 million in more than 62 portfolio companies
spanning equipment, materials, device and process providers in the
clean energy, semiconductor, display, lighting and energy storage
sectors. In 2014 alone, the group made four new investments in
early stage technology companies.
About Applied
Ventures
Applied Ventures, LLC, a subsidiary of Applied Materials, Inc.,
invests in early and later-stage technology companies with high
growth and long-term potential that provide a window into
technologies that advance or complement Applied Materials' core
expertise in precision materials engineering. Applied
Ventures' investments help develop technologies and markets that
provide natural extensions of Applied Materials' businesses and can
stimulate the growth of applications for its products and
services. Applied Materials, Inc. is the global leader in
precision materials engineering solutions for the semiconductor,
flat panel display and solar photovoltaic industries. Learn more at
www.appliedventures.com.
# # #
Contact:
Kevin Winston (editorial/media) 408.235.4498
Michael Sullivan (financial community) 408.986.7977
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Applied Materials via Globenewswire
HUG#1903583
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