Canadian smart materials and photonics company Metamaterial Technologies Inc (MTI) has bought Rolith Inc, a provider of nanostructured coatings and devices based in Pleasanton, California. The deal’s financial terms were not disclosed. Halifax-based MTI said the acquisition is strategic and will accelerate its ability to develop large-scale optical metamaterial products for aerospace, defense, healthcare and energy industries. Founded in 2011, MTI has raised venture capital funding from Innovacorp, First Angel Network, and other investors. Rolith has been backed by VTB Capital and Asahi Glass Co.
Photo (left to right): George Palikaras, founder and CEO of MTI, Inc and Boris Kobrin, founder and CEO of Rolith, Inc.
Canadian Metamaterial Technologies Inc. Eyes Silicon Valley Expansion Through the Acquisition of Rolith’s Business
HALIFAX, May 26, 2016 /PRNewswire/ – Metamaterial Technologies Inc. (MTI), a global leader in smart materials and photonics headquartered in Canada announced today, that it has acquired Rolith’s business, including its proprietary manufacturing technology, Rolling Mask Lithography (RML®) and its NanoWeb® products. Rolith is a Silicon Valley based nanofabrication company. The deal includes intellectual property, proprietary tools and state of the art research and development facilities specific to Rolith’s large surface area lithography platform as well as the company’s key employees. This deal will accelerate MTI’s ability to develop large-scale optical metamaterial products for aerospace, defense, healthcare and energy markets.
This acquisition is indicative of MTI’s commitment to innovation, which centers on making the next generation of smart, multifunctional materials that will change the way we use, interact and benefit from light.
“Rolith’s existing business line and RML® technology will complement MTI’s capabilities and extend its market offerings. This acquisition will establish the company as a forerunner in the industry and will enhance the company’s future growth and performance,” said Maurice Guitton, MTI’s board chairman.
“This is a strategic acquisition for MTI. One of the biggest challenges in our industry has been the absence of viable manufacturing tools to produce large-scale, high-volume optical metamaterial products. Rolith’s patented RML® lithographic technology is the first of its kind and will allow us to scale-up our manufacturing to meet the industry demands.” said George Palikaras, founder and chief executive officer of MTI. “Rolith has built a solid IP portfolio that will complement MTI’s and I am honored and excited to have all three founders and Rolith’s team join our new U.S. company.”
Rolith was founded in 2008 by Dr. Boris Kobrin, Julian Zegelman and Prof. Mark Brongersma from Stanford University. “We are all excited to be joining MTI and its talented team. MTI is now well-positioned to be a leader in the commercialization of metamaterial optical products,” said Boris Kobrin, founder and chief executive officer of Rolith.
MTI’s platform technology is gaining international attention for its ability to manipulate light in unprecedented ways. In 2014, MTI signed a partnership agreement with Airbus to test and tailor its award winning technology Lamda Guard metaAIRTM, as a solution to protect a pilot’s vision by blocking and deflecting intense laser strikes.
About Metamaterial Technologies Inc.
Metamaterial Technologies Inc. (“MTI”) is a smart materials and photonics company specializing in metamaterial research, nanofabrication, and computational electromagnetics. The Company has developed a new class of optical smart materials, changing the way we use, interact and benefit from light. MTI is headquartered in Halifax, Nova Scotia and has offices in London, England and Pleasanton, California. To learn more visit www.metamaterial.com
Photo courtesy of Metamaterial Technologies Inc