Coherent Corp partners with Tamil Nadu and IIT Madras to establish global center of excellence in Chennai

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Coherent Corp partners with Tamil Nadu and IIT Madras to establish global center of excellence in Chennai

Coherent Corp partners with Tamil Nadu and IIT Madras to establish global center of excellence in Chennai

Industry News
Sep 07,23

Coherent Corp, an American manufacturer specializing in optical materials and semiconductors, has inked a tripartite Memorandum of Understanding (MoU) with Guidance Tamil Nadu and IIT Madras's Research Park (IITMRP) to create a pioneering global Center of Excellence (CoE).

This Center of Excellence will be situated within the IITMRP campus in Taramani, focusing on cutting-edge research and development initiatives encompassing lasers, optical networking components and systems, electric vehicle (EV) batteries, and compound semiconductor devices. The primary target markets for these innovations revolve around the burgeoning fields of mobile, intelligent, and electric applications.

Headquartered in Saxonburg, Pennsylvania, Coherent Corp is a renowned global leader in materials, networking solutions, and laser technologies, catering to industrial, communications, electronics, and instrumentation sectors. With a presence in over 130 locations across 20 countries, the company maintains a robust network of research and development, manufacturing, sales, and distribution facilities.

TRB Rajaa, the Minister of Industries, Investment Promotion, and Commerce for the Government of Tamil Nadu, expressed delight in Coherent Corp's decision to establish its inaugural global Centre of Excellence in Tamil Nadu. He emphasised that this marks Coherent's maiden direct investment in India within the realm of laser applications. He underscored the appeal of Tamil Nadu, attributing it to the state's thriving business ecosystem, unparalleled talent pool, and the presence of pioneering academic institutions.

Vishnu Venugopal, the Managing Director and Chief Executive Officer of Guidance, revealed that a business delegation from Tamil Nadu, during a recent visit to the Bay Area in the United States, had fruitful discussions with key officials from Coherent Corp.

Professor Ashok Jhunjhunwala, President of the IITM Research Park, articulated the objectives of IITMRP, emphasising their commitment to advancing research from development to scaled commercialisation while nurturing young talent. He enthusiastically welcomed the collaboration with Coherent and expressed a desire for the company to set up manufacturing operations in Tamil Nadu, a goal they are determined to make a reality.

Giovanni Barbarossa, Chief Strategy Officer and President of the Materials Segment at Coherent, highlighted the vast opportunities India presents for their company. He noted India's rapid growth as a market, with an estimated total addressable market (TAM) approaching $2 billion and projected to grow at a remarkable 40% CAGR over the next five years. Barbarossa stressed the suitability of India as a base for manufacturing operations and an ideal hub for R&D activities. He underscored Coherent's commitment to partner with India, invest in Indian talent, and foster cutting-edge technology development within the country. Chennai was selected as the location for this significant investment due to its wealth of talent and state-of-the-art research park facilities, providing an exciting prospect for Coherent's endeavours.

Souece: The Hindu