U.S. venture capital firm In-Q-Tel has made an undisclosed strategic investment in Redlen Technologies Inc., a Saanichton, British Columbia-based developer and manufacturer of high-resolution cadmium-zinc-telluride semiconductor radiation detector products. In-Q-Tel and Redlen have also entered into a technology agreement. Redlen has been venture-backed since 2004. Its investors include Canadian firms BC Advantage Funds (VCC), GrowthWorks and Yaletown Venture Partners.
Redlen Technologies, Inc. (Redlen), a leading developer and manufacturer of high-resolution Cadmium-Zinc-Telluride (CZT) semiconductor radiation detector products, announced a strategic investment and technology development agreement with In-Q-Tel (IQT). IQT is a non-profit, strategic investor that identifies, adapts, and delivers innovative technology solutions to support the missions of the U.S. Intelligence Community.
“Our partnership with Redlen will enable the acceleration of product development and commercial deployment of its CZT semiconductor radiation detection products for the defense and security marketplace,” said Syd Ulvick, Senior Vice President in charge of IQT’s Physical and Biological Technologies Practice. “We believe that expanding this technology will greatly benefit our government customers.”
Redlen’s CZT semiconductor detector technology allows for the direct conversion of radiation to electrical signals, which improves energy resolution and image quality for more precise radioactive isotope detection. CZT radiation detectors operate at room temperature and use solid-state semiconductor materials, so the instruments that integrate them can be compact, lightweight, reliable and portable.
“The product operating environments for IQT’s Intelligence Community customer base are extremely demanding. The IQT investment will allow us to accelerate the timescales and increase the breadth of detector products to meet the needs of this unique market,” says Glenn Bindley, President and CEO of Redlen Technologies. “We believe this agreement will help us achieve easier integration and faster time-to-market for OEM radiation detection systems, devices, and instruments.”
About Redlen Technologies, Inc.
Redlen has successfully pioneered a breakthrough, scalable, high-volume production process for manufacturing advanced CZT semiconductor wafers with its proprietary Traveling Heater Method (THM) technology. Redlen is revolutionizing the performance, cost, and availability of CZT radiation detectors – enabling the widespread adoption of these technologies into security and medical markets. Redlen’s commercially available products can be used for a variety of defense and security applications such as dirty bomb detection, cargo container inspection, nuclear isotope identification, and airport baggage scanning and security screening. Other applications include medical imaging, such as nuclear medicine cameras (SPECT, PET), CT scanners (photon counting), and X-Ray imaging. For more information, visit www.redlen.com.
In-Q-Tel is the not-for-profit, strategic investment firm that works to identify, adapt, and deliver innovative technology solutions to support the missions of the U.S. Intelligence Community. Launched in 1999 as a private, independent organization, IQT’s mission is to identify and partner with companies developing cutting-edge technologies that serve the national security interests of the United States. For more information, visit www.iqt.org.
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