The alliance includes a technology transfer agreement and development agreements as well as a minority investment by Asahi Kasei Corporation in Luminit.
Formerly the Light Shaping Display Division of Physical Optics Corporation, Luminit is a privately held, high technology company specializing in custom and standard holographic diffusers based on multiple technology patents.
Asahi Kasei Corporation, headquartered in Tokyo, is a major international corporation in the petrochemical, electronic devices and materials, fibers, pharmaceuticals, medical devices, housing and construction markets.
Engin Arik, president and CEO of Luminit, said "[Asahi Kasei Corporation's] investment in Luminit will enable significant expansion of our capabilities to better satisfy the requirements of our strategic partner, our customers and our distributors. Asahi Kasei's engineering assistance will also be very Valuable to help us improve and expand our capabilities."
Kageyasu Akashi, director, executive officer and general manager of business development for Asahi Kasei Corporation, said: "We believe that this agreement will result in accelerated product development and mutual growth through the synergistic effect of the strategic alliance and the production technologies held by Asahi Kasei with Luminit's technology."
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