US-based technology innovator Versatilis has launched a new venture to commercialise the company's energy efficient lighting technology.
VerLASE Technologies saw initial financial support led by Hong Kong investment group Wakley, details of which have not been disclosed.
The company will focus on the development and sale of surface emitting laser diodes and LED products.
LEDs and laser diodes emit light in wavelengths limited by the materials used in their manufacture, which VerLASE claims it can mitigate with its solution.
Versatilis CEO George Powch will lead the company alongside CTO Ajay Jain, the inventer of the technology.
Pwoch said, 'We have a different materials approach to laser diodes, for example, that can enable devices emitting directly in green and other colors, an industry first. We are pleased to have attracted investors of Wakley's stature into our new venture.'