Merck expands headquarters, ramps up stake in Qlight Nanotech

19 November 2013 10:31  [Source: ICIS news]

LONDON (ICIS)--Chemicals and pharmaceuticals producer Merck said on Tuesday that it is to expand its global headquarters in Damstadt, Germany, with the development of an innovation centre.

The company has also increased its equity stake in Israeli semiconductor nanoparticle technology start-up Qlight Nanotech.

Intended for use by employees across all divisions, the innovation centre is to present a space for interdisciplinary collaboration for the duration of a project.

The centre is being developed as part of the company’s drive to increase the efficiency of its operations, Merck said. The company employs around 8,800 people at the Darmstadt site.

Merck added that its Qlight investment is its second in the Israeli company, which was formed as a spin-off from Hebrew University of Jerusalem technology transfer company Yissum.

The investment will allow the advanced displays and energy-efficient lighting developer to broaden its potential customer base and increase its investment in developing its semiconductor nanoparticle-based technology, Merck said. Financial details were not disclosed.

Merck has been pursuing a joint research of programme with Qlight since its inception, supported by the Israeli Ministry of Industry, the company added.

“Deepening our collaboration with Qlight Nanotech signifies our confidence in the potential of the new technology, especially for the next generation of display screens,” said Bjorn Hofman, Merck’s senior vice president of advanced technologies, performance materials.

By: Tom Brown
+44 208 652 3214

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