SYDNEY: Energy Technologies Ltd (ASX: EGY) said on Monday it has acquired the laser optical engineering intellectual property portfolio of Israel-based Maradin Ltd through its wholly owned subsidiary Cogenic Pty Ltd, in a deal aimed at advancing late-stage prototype development for laser projection systems.
The acquisition positions Cogenic as a developer of full laser projection optical engineering, with applications ranging from ultra-near eye and direct retina displays to defence, aerospace, virtual reality (VR), augmented reality (AR) and lifestyle markets.
Maradin’s development team, led by CEO Matan Naftali, will continue to progress the IP portfolio under Cogenic’s coordination. The technology uses laser beam scanning (LBS) with micro-electro-mechanical systems (MEMS) to deliver large scanning angles with precise control, enabling focus-free image projection on non-flat surfaces and at acute angles.
Once completed, Cogenic will hold 14 global patents and a fully operational technical team. The acquisition follows 12 months of due diligence and will be funded under existing facilities for about AUD953,872 ($670,000). Payment will be made in tranches over 18 months, starting with AUD192,200 within two weeks.
Energy Technologies, which also operates subsidiaries in copper cables and line fittings, said the move strengthens its position in advanced optical engineering and extended reality technologies.