Corning invests in fiber lighting startup Versalume
Corning is investing in Versalume to focus on developing products based on Corning Fibrance Light-Diffusing Fiber.
Corning Incorporated (NYSE:GLW; Corning, NY) is investing in Versalume LLC, a Silicon Valley startup that will focus on developing smart, integrated fiber lighting products and solutions based on Corning Fibrance Light-Diffusing Fiber. Fibrance is an optical fiber created from a unique glass composition for maximum flexibility—it can be bent, curved, and wrapped around almost anything, while maintaining bright, beautiful, and uniform light.
Versalume will lead all commercial development efforts for Fibrance, serve as its exclusive distributor, and also offer integrated technology solutions. Corning will manufacture Fibrance and its representatives will serve on Versalume’s board of directors.
“Fibrance dramatically expands the toolbox for where and how light is delivered, and Versalume will make it easy for designers to capture its potential,” said Paul Then, director of early stage business development at Corning. “Versalume will enable Fibrance technology to quickly get into the hands of designers and customers in applications that span the consumer, architectural, automotive, and medical industries seeking to solve difficult lighting challenges.”
Mario Paniccia, a Silicon Valley executive and entrepreneur, has been named Versalume’s chief executive officer. Kevin Sullivan is the vice president of operations, responsible for manufacturing, supply chain, and overall day-to-day operations of the company; and Qing Tan is vice president of engineering, responsible for short term and long term technology and product development for Versalume and its partners.