Seren signs agreement in India

The Sheffield-based firm, which is one of Fusion IP’s portfolio businesses, uses its technology to increase the amount of light created at the centre of a white high brightness LED.

The tie-up with an un-named LED manufacturer means Seren has given exclusive rights to its technology for a number of lighting applications in India.

Following the collaboration agreement, the partner will be able to manufacture products incorporating Seren’s processes.

Fusion IP, which turns academic research into business, has a 48 per cent shareholding in Seren.

Seren’s chairman, Dr Godfrey Ainsworth, said: “We estimate that the first sales of manufactured product, incorporating our technology, will start as early as 2013 and lead to an increasing royalty stream, as our partner brings our process in to full production and their own manufacturing capacity increases.

“We look forward to working closely on the collaboration and to achieving a successful tech transfer during 2012 to our first manufacturing partner.”

Dr Ainsworth said the company was in discussions with a number of manufacturers around the world about its LED technology.

David Baynes, chief executive of Fusion, added: “This is another great example of the value of the technology in our pipeline. Seren clearly has the potential to become an extremely valuable portfolio company and we look forward to more deals in the future, as the company rolls out the technology into other sectors and other countries across the world.”