Oxford spin-out Oxford Advanced Surfaces halts investment in VISARC technology.
Oxford Advanced Surfaces (OAS) has suspended investment in its nanoparticle-based anti-reflection VISARC technology, following a strategic review.
The Oxford University spin-out, founded in 2006, will now focus its efforts into its Onto technology platform moving forwards.
The firm simultaneously announced pre-tax losses increased by 15% to £932k during the first six months of 2013, and posted revenues of £3k compared to £69k from the same period during 2012.
ORA Capital Partners and commercialisation firm the IP Group are OAS’s major shareholders, with shares of 25.26% and 14.41% respectively. Oxford University maintains a 8.73% share in the company.
Adrian Meldrum, chief executive at OAS, said: “The decision to suspend development of our VISARC technology platform will enable us to increase investment in our proprietary Onto technology where we believe there is strong market potential. This growth opportunity is being driven by an increased use of plastics and polymers, with surface functionalisation and adhesion requirements, in automotive, aerospace, communications and renewable energy markets.”
