Nanocrystal Asia's Unique LED Technology to Benefit Formosa Epitaxy

Taipei, March 14, 2011 (CENS)--Nanocrystal Asia Inc., Taiwan, in which Formosa Epitaxy Inc. and Unity Opto Technology Inc. hold a combined 20% stakes, has decided to contract Formosa Epitaxy to make a unique chip it recently introduced.

The chip outperforms Formosa Epitaxy's chips by three to four folds in terms of brightness thanks to the patented defect-free gallium nitride (GaN) nanostructure LED technology, Formosa Expiaxy chairman F.R. Chien. Also, the technology is noted for lower cost, and improved reliability, thus fueling high-volume adoption in markets for solid state white lighting, automotive, and LCD backlighting of laptops, PDAs, cell phones and TVs.

Chien believed that the Nanocrystal technology will dominate the industry in the coming two years and that using the unique technology will help his company boost chip brightness by 50% annually, surging from annual pace of 15-20% in past years.

Nanocrystal President Ehud Lee said his company will enter into partnership with Taiwan's LED industry by licensing its technology to local manufacturers in exchange for their contract manufacturing service. The company, he added, will farm out big-volume contracts to Formosa Expitaxy..

Lee said his company, the Asia headquarters of the Nanocrystal Group, will launch initial public offering (IPO) in Canada in six months, with total market value of its listed shares to hit around US$80 million then. He added the company will go public on New York stock exchange or Taiwan stock exchange as soon as it completes its R&D projects.

Nanocrystal Asia Inc., Taiwan is capitalized at US$12 million, of which a combined 20% was paid by Formosa Epitaxy and Unity Opto.