Novalux Reborn

Novalux secures $17M in funding, led by Crescendo, DynaFund, and Morgan Stanley; names Jeffrey L. Cannon as president and CEO

June 30, 2003

3 Min Read

SUNNYVALE, Calif. -- Novalux, Incorporated, a semiconductor laser company, today announced that it has secured $17 million in venture capital funding to bring to market its disruptive laser technology platform called the NECSEL™ (Novalux Extended Cavity Surface Emitting Laser). A consortium of three of the company’s previous investors – Crescendo Ventures, DynaFund Ventures, and Morgan Stanley Venture Partners, led the round. William J. Harding, general partner with Morgan Stanley Venture Partners in Menlo Park, California states “We are very excited to participate in the continued funding of Novalux at this point in the company’s technology and product evolution. The company has developed an exciting platform technology for visible light laser products as well as those in the IR spectrum and has engaged global customers and gained design wins in their multiple markets and applications.”

In conjunction with the close of its financing, Novalux also announced the appointment of Jeffrey L. Cannon to the position of President and CEO. Mr. Cannon is a seasoned veteran within the laser industry, most recently serving as Chief Operating Officer of Novalux to lead the company's change in strategic direction from telecom-focused products to frequency-doubled lasers for a variety of visible wavelength laser applications. Prior to joining Novalux, Mr. Cannon was the Vice President and General Manager for the Commercial Laser Division of JDS Uniphase, Vice President and General Manager of the Precision Motion Control and Metrology Division for Newport Corporation, and held various management-level positions at Coherent, Incorporated.

Dr. Aram Mooradian, the inventor of the NECSEL and the company’s Chief Scientist, originally founded Novalux in 1998. The company began shipping its first product, the ProteraTM visible laser system, in December 2002. The first versions of the Protera product provide 5mW and 15mW of output power at 488nm, with outstanding output power stability, beam pointing stability, and extremely low optical noise that surpasses incumbent technologies including Argon Ion lasers and DPSS lasers. To date, key multinational OEM customers in the Bio-Analytical Instruments market have successfully evaluated and designed the Protera product into their instruments. Applications within this market segment include Confocal Microscopy, DNA Sequencing and Flow Cytometry. Philippe Goix, Chief Technology Officer and Founder of Guava Technologies in Hayward, California states "At Guava we are excited about the potential of the NECSEL laser technology developed by Novalux. We have evaluated the Protera laser system and are very pleased with its performance. This technology provides a versatile laser platform that strategically aligns with our business plan to provide life science researchers with powerful, single-cell analysis tools that are compact, robust and cost effective."

Novalux is now actively producing and shipping 488nm Protera lasers for revenue. The Company plans to release other wavelengths of the Protera laser later this year to address additional market segments such as Digital Imaging, Reprographics, Digital Photo Refinishing, Optical Data Storage, and Laser Displays.

The advantage of Novalux’s laser technology rests on its new method of producing high power vertical cavity semiconductor lasers and on its unique method of combining high brightness semiconductor lasers with nonlinear optics. Semiconductor lasers are compact, rugged, efficient, reliable, and highly manufacturable sources of coherent light that offer significant price and performance advantages when compared to currently available Diode-Pumped Solid State lasers or Gas lasers. By packaging the NECSEL technology into a variety of patented laser architectures, this new technology is capable of delivering a variety of laser products that will address a large portion of the existing $4.8 billion market for lasers.

Novalux Inc.

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