Eikos RECEIVES $1 million INVESTMENT FROM ITOCHU INTERNATIONAL INC.
FRANKLIN, MA, February 3, 2004 – Eikos Inc., a developer and licensor of highly transparent carbon nanotube (CNT) inks for conductive coatings and circuits, has received a $1 million investment from Itochu international Inc., the wholly-owned U.S. subsidiary of the $87 billion Itochu Corp (www.ITOCHU.co.jp).
Eikos will use this new funding to further develop high transparency conductive films for a variety of profitable markets including flat panel displays, solar energy and OLED lighting.
In announcing the investment, Itochu International Inc. President and CEO Hiroshi Kitamura said, “Eikos is focused on developing innovative technologies and applications for high performance materials using carbon nanotubes which we believe has great potential. Our mission as a company is to provide infrastructure and support to help innovative, entrepreneurial companies like Eikos to commercialize their technologies. We will seek to leverage the technology within our company and particularly through our recent licensing agreement with our affiliate Takiron Ltd.”
“This is an exciting time for Eikos, having recently announced the Takiron License agreement and now, this financial endorsement from Itochu, one of the world’s largest companies,” explains Eikos CEO Joe Piche. “This investment will accelerate the development and commercialization of our patented InvisiconTM coatings and circuits and reinforce the value of our technology to other licensees, strategic partners and investors.”
About Itochu International Inc.
Itochu International Inc. is the North American subsidiary of Itochu Corp, one of Japan’s leading companies. With operations in over 80 countries covering a broad range of industries, its revenues place it among the world’s largest corporations of any type.
Eikos Inc. is a developer and licensor of highly transparent carbon nanotube (CNT) inks for conductive coatings and circuits for use in flat panel displays, OLED lighting, solar cells, smart windows and other established markets. Eikos’ patented InvisiconTM technology will enable high volume, low cost production of a thinner, more flexible and more durable conductive coating technology that will displace Indium Tin Oxide (ITO) as the industry standard. A privately held company headquartered in Franklin Massachusetts, Eikos has a number of development contracts with major global companies and government agencies and is planning to establish manufacturing operations in the U.S. and Asia. For more information, please visit us at www.eikos.com.