Harris & Harris Group Notes Bridgelux and Toshiba Collaboration
NEW YORK, April 23, 2013 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc.
(Nasdaq:TINY), an early-stage, active investor in transformative companies,
notes today's announcement by Bridgelux, Inc., and Toshiba Corporation that
they have entered into an agreement under which Bridgelux will sell to Toshiba
its industry-leading GaN-on-Silicon technology and related assets, and the
companies will strengthen and extend their strategic technology collaboration
through an expanded licensing and manufacturing relationship.
In January 2012, Bridgelux and Toshiba entered into a Joint Development and
Collaboration Agreement for the development of GaN-on-Silicon LED
technologies. The success of that relationship was demonstrated by Toshiba's
announcements of the achievement of world class performance for 8"
GaN-on-Silicon LED wafers and mass production of white LEDs.Both of these
milestones were achieved using Bridgelux's crystal growth and LED device
technologies as well as Toshiba's advanced silicon processes and manufacturing
technologies. Bridgelux's press release may be viewed at
"When we made our initial investment in 2005, we knew that LEDs would become
an important growth market and that Bridgelux had novel and differentiated
technology. Today's announcement with Toshiba is another step towards
validating that decision almost eight years ago," said Douglas W. Jamison,
Chief Executive Officer of Harris & Harris Group. "Brad Bullington and the
Bridgelux management team should be commended for developing such a strong
relationship with Toshiba. This relationship is critical to maximizing the
substantial opportunity in the global LED market," added Dr. Alexei A.
Andreev, Managing Director at Harris & Harris Group and Bridgelux Board
Harris & Harris Group is an investor in privately held Bridgelux, Inc.
Detailed information about Harris & Harris Group and its holdings can be found
on its website at www.HHVC.com and on Facebook at
This press release may contain statements of a forward-looking nature relating
to future events. These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. These statements
reflect the Company's current beliefs, and a number of important factors could
cause actual results to differ materially from those expressed in this press
release. Please see the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 2012, as well as subsequent filings, filed with the
Securities and Exchange Commission for a more detailed discussion of the risks
and uncertainties associated with the Company's business, including, but not
limited to, the risks and uncertainties associated with venture capital
investing and other significant factors that could affect the Company's actual
results. Except as otherwise required by Federal securities laws, the Company
undertakes no obligation to update or revise these forward-looking statements
to reflect new events or uncertainties. The references to the websites
www.HHVC.com, www.Facebook.com and www.bridgelux.com have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release.Harris & Harris Group is
not responsible for the contents of third party websites.
CONTACT: DOUGLAS W. JAMISON
TEL. NO. (212) 582-0900
Press spacebar to pause and continue. Press esc to stop.