Sheffield University partners with Fusion for LED business
Researchers at the University of Sheffield have just signed a deal with Fusion IP that will result in the creation of an entirely new business, called Seren Photonics. The new firm aims to bring an exciting new LED technology to the fast growing marketplace.
At the heart of Seren Photonics' business will be an invention created by Dr Tao Wang. Incredibly complex nano technology and physics have been used by Dr Wang, resulting in significant improvements in LED efficiency.
A spokesperson for Fusion has revealed that LED lights treated by Dr Wang's methods are able to produce twice as much light as older LED technologies, which cuts down on wastage through heat even further.
The impact of the new technology is believed to be potentially huge, as future LED-based lamps for consumers could require just a single watt of electricity to operate and LED lighting will be much brighter than currently, without increasing power requirements.
Fusion and the University of Sheffield began working together nearly 2 years ago. Fusion already has a proven ability to monetise and commercialise academic research. Seren Photonics has stated that the LED market for signs, lighting and displays will be worth over ï¿½7.5 billion by 2013 and with hundreds of millions of pounds worth of backing behind it, it feels that it is ready to exploit this growth to the fullest.
Fusion has created three brand new companies already in 2010, with Seren Photonics joining two other firms that have been created to commercialise research taking place at Cardiff University.
Academic research drives forward many forms of industry and commerce and LED systems are no exception. The UK economy will undoubtedly benefit from firms such as Seren Photonics, which operate at the forefront of their field and hold considerable promise for the future.