Turquoise, the UK merchant bank specialising in climate technologies, has announced a follow-on investment by Low Carbon Innovation Fund 2 (LCIF2) in Kubos Semiconductors.
This forms part of a capital raising round of over £0.5 million in which a mixture of existing and new investors participated.
Kubos is developing high-end, scalable, and highly efficient LED technology which fundamentally overcomes the ‘green gap’ problem where the efficiency of conventional LEDs is significantly reduced.
Desmond Astley-Cooper, director at Turquoise, commented: “My colleagues and I are pleased to be involved with such an exciting new materials technology with many uses, including small form-factor LED devices in the future.”
Caroline O’Brien, CEO of Kubos, added: “We are delighted to have secured the continuing support of LCIF2 and our other shareholders and welcomed some new investors as we progress towards our technical and commercial goals. We are also excited about the prospect of exploiting our technology’s capabilities in new markets such as improving the efficiency of native red microLEDs for AR/VR and displays and providing high switching speed LEDs for visible light communications applications.”
LCIF2 is funded by European Regional Development Fund, with the UK’s Department for Levelling Up, Housing and Communities as the Managing Authority.
