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Finnish coating technology specialist Picodeon Ltd is to accelerate the development and manufacture of its disruptive thin films and thin film deposition tools following completion of a EUR €5 million round of investment by Enso Ventures Ltd. In addition, Picodeon recently started a new project funded by TEKES (the Finnish Funding Agency for Technology and Innovation) with a value over EUR €1 million.
The investment will fund further research into thin-film applications and the development of new thin-film materials, as well as the production of a market-ready range of laser deposition equipment.
Picodeon's patented Coldab® coating technology is an advanced Ultra-Short Pulsed Laser Deposition (US PLD) process. The technology enables high quality nanometer scale thin-film coatings including materials such as metals, composites, oxides and polymers, to be deposited on a vast range of substrates.
The process is produced by Picodeon's patented coating equipment, where material is vaporised in a laser-ablation process forming a plasma plume which condenses on the substrate to form a thin film. Applications include hard optical coatings for displays, screens and other transparent products, and may vary from super-hard low-friction thin-films to optical thin-films with anti-finger print properties. In July for example, Picodeon delivered a project to a semiconductor manufacturer for the US PLD deposition of a gold (Au) thin film.
"This investment round enables Picodeon to continue the commercialisation and production of its innovations related to nanotechnology thin-film solutions and equipment. Enso Ventures is an ideal investor for us as they are committed to a long-term business development plan," said Marko Mylläri, CEO of Picodeon.
"Picodeon is investing nearly EUR €2 million in the development of new automated thin-film coating equipment which will be up and running by January 2014. This is a unique machine to demonstrate the volume manufacturing potential of PLD coatings. It will show that the PLD process is not just a laboratory research concept, but that it is scalable into industrial applications by using Picodeon's innovations.
"Picodeon has a large portfolio of global patents including 18 granted patents and nearly one hundred patent applications. Managing such a patent portfolio is demanding, however the patent portfolio plays a critical role in our business model and in the value produced by the company. We believe we are an innovator in the technology pulsed laser deposition area," concluded Mylläri.
About Picodeon Ltd
Picodeon is a Finnish nanotechnology company specializing in thin film coatings and surface treatments with its patented Coldab® Ultra-Short Pulsed Laser Deposition (USPLD) process. The company is located in Ii, northern Finland and provides equipment, solutions and services for its clients worldwide. Picodeon is financially backed by Enso Ventures.
About Enso Ventures Ltd
Enso Ventures is a private investment and project management company that specialises in making selective equity investments in high-technology and bio-tech companies. It provides the required capital along with leadership and industry expertise with a clear focus on technology acceleration and commercial development to promote faster growth. Enso Ventures has offices in New York and London from which it manages its investments in Europe, USA and Russia. www.ensoventures.com
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