Samsung to invest USD$15 million in development of nano-architected materials for thin film solar

Under the terms of the deal, Samsung has said it will contribute USD$15 million of new equity capital to Nanosys, along with additional funding and resources to co-develop products using Nanosys technologies. The company adds that it will also acquire licensing rights to the globally unparalleled nanotechnology portfolio from Nanosys. Existing investors will contribute a further USD$10 million in new equity.

??"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.??

Jason Hartlove, CEO of Nanosys added: “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.”

Nanostart recently announced the acquisition of another of its U.S. portfolio companies, NanoGram Corporation, by Teijin Ltd. of Japan. Earlier this year, Swiss pharmaceutical and diagnostic giant Roche bought the primary product line of a third Nanostart U.S. holding, BioMicro Systems, Inc., in an asset sale transaction.