RNS Number : 6835O
Braveheart Investment Group plc
02 July 2010
Braveheart Investment Group plc
("Braveheart" or the "Group")
Investment in mLED limited
Braveheart (AIM: BRH), the technology commercialisation and investment management company, today announces an investment into mLED Limited ("mLED" or "the Company"), a spin-out from the University of Strathclyde ("Strathclyde" or "the University"). The £150,000 funding package comprises funds from Braveheart's Strathclyde Innovation Fund and its Alpha Fund, as well as from Scottish Enterprise's Seed Fund.
mLED is a newly formed company, which has developed its technology at the University's Institute of Photonics ("IoP"). The IoP is recognised as a world leading institute in the development and supply of micro light emitting diodes ("microLEDs").
microLEDs are devices made up of thousands of tiny emitters producing light in a compact, integrated package. Unlike other micro-display technologies, microLEDs do not require a plethora of external components, such as optics and switching matrices, to modulate the light pattern, thereby making them more compact and efficient and ideal for miniature applications.
The IoP and its work has generated enquiries from academic and industrial bodies on availability of microLED devices for a range of applications including optogenetic studies. Optogenetics is a relatively new body of research in neuroscience and is being used in order to gain an understanding of how the brain processes information in order to precisely identify circuitry implicated in neurodegenerative disorders. It is anticipated that optogenetic tools and the resultant findings will revolutionise medical science and could impact on future treatments for conditions such as Alzheimer's, Parkinson's, depression and chronic pain. The Company is planning on initially addressing the neurotechnology market which, is forecast to grow from US$3.6 billion in 2008 to US$8.8 billion in 2012/13.
Other applicable market sectors include micro-displays, wireless communications, microscopy, pico projection, general lighting, printing and photolithography.
Commenting on the investment, Geoffrey Thomson, Chief Executive of Braveheart said; "We are delighted to support another spin-out from the University of Strathclyde. mLED has some very promising technology and we look forward to supporting them through the next exciting stage of their development."
Dr Jim Bonar, CEO of mLED, said "mLED is extremely pleased to have gained exclusive rights to world-leading microLED technology. This funding will enable mLED to develop product capabilities in a range of markets, including evolving life science markets such as neuroscience and also to supply mLED development kits, thus, offering developers the ability to integrate microLED array technology into their own innovative applications."
For further information please visit www.braveheartinvestmentgroup.co.ukor www.mled-ltd.com
From Reuters published on 2 July 2010
