American manufacturer of optical materials and semiconductors, Coherent Corp, has entered into a tripartite Memorandum of Understanding (MoU) with Guidance Tamil Nadu and IIT Madras’s Research Park (IITMRP), to establish a first-of-its-kind global Centre of Excellence (CoE).
The CoE will be set up at the IITMRP campus in Taramani, and will focus on research and development of products and services for lasers, optical networking components and systems, EV batteries and compound semiconductor devices, for the rapidly-growing markets underpinned by mobile, intelligent, and electric applications.
Coherent Corp., headquartered in Saxonburg, Pennsylvania, is a global leader in materials, networking, and lasers for the industrial, communications, electronics, and instrumentation markets. Coherent has R&D, manufacturing, sales, and distribution facilities in over 130 locations across 20 countries.
“We are glad that Coherent Corp., a company that plays an important role in the semiconductor value chain, has chosen Tamil Nadu for its first global Centre of Excellence (CoE). We are happy that this is their first direct investment in India in laser applications. The combination of the State’s vibrant business ecosystem, unparalleled talent pool and presence of pioneering academic institutions makes Tamil Nadu a destination of choice for companies like Coherent,” said T.R.B..Rajaa, Minister of Industries, Investment Promotion, and Commerce, Government of Tamil Nadu.
Vishnu Venugopal, Managing Director and Chief Executive Office of Guidance, said that a business delegation from Tamil Nadu, during a recent visit to the Bay Area in the United States, had met with key officials from Coherent Corp.
“R&D to scaled commercialisation, innovation, and nurturing young talent are the objectives of IITMRP. A joint collaboration with Coherent, will immensely benefit the IIT-M and IITMRP community. We would like them to set up manufacturing in Tamil Nadu. We will make this possible,” said Professor Ashok Jhunjhunwala, president of the IITM Research Park.
“India represents many areas of opportunity for our company,” said Giovanni Barbarossa, Chief Strategy Officer and president, Materials Segment, for Coherent.
“India is a rapidly growing market for Coherent Corp with an almost USD 2 billion total addressable market (TAM) growing at a 40% CAGR over the next five years. It is a great base for our manufacturing operations and an ideal hub for our R&D activities. With this significant investment, the Centre of Excellence signals our commitment to partner with India and invest in Indian talent to establish and grow cutting-edge technology in the country. The availability of talent and the plug-and-play research park, which provides us the opportunity to work with world-class facilities, were primary considerations in selecting Chennai, and we are excited to be here,” he said.
