New company established to accelerate the adoption of Corning’s fiber lighting technology
CORNING, N.Y. — Corning Incorporated (NYSE: GLW) today announced its investment in Versalume LLC, a new company headquartered in California’s Silicon Valley. Versalume™ will focus on developing smart, integrated products and solutions based on Corning® Fibrance® Light-Diffusing Fiber. Fibrance fiber is an innovative optical fiber created by Corning from a unique glass composition for maximum flexibility — it can be bent, curved and wrapped around almost anything, while maintaining bright, beautiful and uniform light.
Versalume will lead all commercial development efforts for Fibrance technology, serve as its exclusive distributor, and also offer integrated technology solutions. Corning will leverage its long history and expertise in glass and materials science to manufacture Fibrance fiber. Corning representatives also will serve on Versalume’s Board of Directors.
“Fibrance fiber dramatically expands the toolbox for where and how light is delivered, and Versalume will make it easy for designers to capture its potential. We look forward to witnessing the creativity and impact of the developing Fibrance fiber ecosystem,” said Paul Then, director of early stage business development at Corning. “Fibrance technology combines Corning’s strengths in glass, optical physics and fiber manufacturing, but its benefits extend beyond Corning’s current market focus. Versalume will enable Fibrance technology to quickly get into the hands of designers and customers in applications that span the consumer, architectural, automotive, and medical industries seeking to solve difficult lighting challenges.”
Mario Paniccia, a Silicon Valley executive and entrepreneur, has been named Versalume’s chief executive officer. As Versalume’s founding leader, Paniccia brings his experience in the photonics and electronics industries, as well as his broad connections in Silicon Valley to Versalume.
“I am excited for the opportunity to lead Versalume,” Paniccia said. “We are already creating products that use Fibrance Light-Diffusing Fiber and developing new commercial opportunities with some of the best industrial designers, innovators, and thought leaders in Silicon Valley and throughout the rest of the world.”
Forward-Looking and Cautionary Statements
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About Corning Incorporated
Corning (www.corning.com) is one of the world’s leading innovators in materials science. For more than 160 years, Corning has applied its unparalleled expertise in specialty glass, ceramics, and optical physics to develop products that have created new industries and transformed people’s lives. Corning succeeds through sustained investment in R&D, a unique combination of material and process innovation, and close collaboration with customers to solve tough technology challenges. Corning’s businesses and markets are constantly evolving. Today, Corning’s products enable diverse industries such as consumer electronics, telecommunications, transportation, and life sciences. They include damage-resistant cover glass for smartphones and tablets; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for high-speed communications networks; trusted products that accelerate drug discovery and manufacturing; and emissions-control products for cars, trucks, and off-road vehicles.
Corning Communications Contact:
Ann H.S. Nicholson