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For Immediate Release
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NanoOpto Lauded as #1 Venture-Backed Nanotechnology Start-Up Company for Partnership Value Worldwide
Company Announces Recognition by Leading Industry Analyst Firm Lux Research
Somerset, New Jersey. October 17, 2006. NanoOpto Corporation, which is applying novel design methods and proprietary nano-fabrication technology to produce a broad range of unique optical components that enable higher quality, low-cost optical components and systems, today was recognized by top industry analysts at Lux Research as the #1 nano technology company for partnership value worldwide in its just released study: RANKING NANOTECHNOLOGY START-UP COMPANIES FOR PARTNERSHIP VALUE. This recognition followed Lux’s evaluation of 136 venture capital-backed independently operating companies using their business analysis model, which assesses companies on the basis of 20 objective criteria across four broad success factors: 1) scientific pipeline, 2) commercial viability, 3) legal and regulatory position, and 4) operational and financial performance. NanoOpto’s emergence at the top of the ranking resulted from a well balanced, strong assessment across the criteria set.
Barry Weinbaum, President and CEO of NanoOpto, speaking today at the Lux Research Nanotechnology Executive Summit in Cambridge, Massachusetts, shared some of NanoOpto’s success stories with the key drivers in the market and technology space that is nanotechnology and nano-business today. “We have strategically sought to create a real and balanced nanotechnology company, based on our considerable IP portfolio and enabled by our strong team and top-tier investors, with real products and real customers. NanoOpto has broad traction with products across our chosen markets: displays, digital imaging, telecom, government/military, and custom products. This balanced strategy and sheer determination has created momentum to the point where the company is becoming more selective in terms of opportunity management.
“With great work going on in nanotechnology all over the world, it is gratifying and we are proud to have our more than five and one-half years of defining and executing our strategy recognized by Lux Research. We have seen a very definite shift from us pushing technology to the market to the customer community pulling from us. We thank Lux and also our customers for recognizing NanoOpto’s position in the nanotech world. As a company, that’s when you know you are starting to really get there.” Weinbaum said.
NanoOpto received its initial venture financing in February 2001, and broke ground on its own fab that September. Just months later, in March 2002, the company achieved general sampling status on select optical subcomponents. In January 2003, NanoOpto’s nano-fabrication facility was the first of its kind to realize ISO 9001:2000 registration. By 2005, NanoOpto realized full volume production, with its unique optical devices being incorporated into consumer electronics products and fiber optics communications networks.
Existing equity investors include: Morgenthaler Ventures; First Analysis; the Draper Fisher Jurvetson (DFJ) network (including DFJ Gotham Ventures and DFJ New England Ventures); Harris & Harris Group; U.S. Trust’s Excelsior Venture Partners III, LLC; Masters Capital Nanotechnology, LLC; Nanostart AG; Itochu of Japan; and an undisclosed Japanese Company with a leading position in the telecommunications component market.
NanoOpto Corporation is applying proprietary nano-fabrication technology to the design and high-volume manufacture of nano-optic devices for optical components and systems. The company’s nano-meter scale optical function design capability, combined with wafer-based manufacturing methods, delivers optical components that allow more rapid prototyping, higher performance, and lower overall system cost. Both independently and with industry partners, NanoOpto uses its technology to produce superior versions of standard optical components and new classes of integrated optical subassemblies for both custom and general applications. The company has received financial backing from leading venture capitalists, and is based in Somerset, New Jersey. For additional information about NanoOpto, visit www.nanoopto.com.
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