Low Carbon Fund invests in Kubos Semiconductors
UK merchant bank Turquoise invests in Cambridge University LED spin-off
Turquoise, the UK merchant bank specialising in energy, environment and efficiency, has announced its fifth deal for the Low Carbon Innovation Fund 2 (LCIF2). The investment in Kubos Semiconductors is part of a £760,000 round.
Kubos, using technology originally spun out of the University of Cambridge, is developing LEDs in cubic GaN to deliver efficient green and amber devices. Kubos’ technology will enable production of commercial high-end, low-cost, highly efficient LEDs by solving the green gap problem, where a significant drop in efficiency can be observed in green and amber devices when compared with their blue and red counterparts. Main applications are in general lighting, micro-LED displays, automotive, street lighting and digital signage.
Axel de Mégille, director at Turquoise, commented: “Kubos LED technology will represent a massive improvement in lighting and displays efficiency, significantly reducing energy consumption and accounting for less CO2 emissions. This investment fits very well in the investment strategy of LCIF2 into technologies helping to reduce greenhouse gases (GHGs).”
Kubos chief executive Caroline O’Brien added: “We are delighted to welcome LCIF2 as an investor in Kubos. This investment will enable us to further our development program to deliver a commercial proof of concept and start engaging with potential customers. LCIF2 will also enable us to strengthen our links with local and national government.”
LCIF2 is funded by European Regional Development Fund, with the UK Ministry of Housing, Communities and Local Government as the Managing Authority.