CrayoNano was spun-off from the Norwegian University of Science and Technology (NTNU) to commercialize a new technology to grow gallium arsenide (GaAs) nanowires on graphene using molecular beam epitaxy.
The new hybrid electrode material offers excellent optoelectronic properties.
According to the Company's website, graphene represents the ideal substrate and transparent contact for ultraviolet light emitting diodes (UV LEDs) as it is transparent to all wavelengths.
Nanowires on graphene enable critical improved internal quantum efficiency, operating lifetime, and reliability, especially for UVC. The result is UV LEDs with higher efficiency at significantly lower cost, resulting in a reduced cost performance ratio of more than a factor of 10. The cost performance ratio is defined as the price paid per watt of UVC output.
CrayoNano is working to replace mercury arc lamps used for UV today and be the technology leader in a huge and fast-growing market.
On October 2020, CrayoNano was registered on the NOTC-list with ticker code “CNANO”. The company has issued 25,740,900 shares each with a par value NOK 0.02, all of which are registered in the VPS with ISIN code NO 001 0820558. The company entered into an agreement whereby it will be able to use the NOTC reporting systems as of 15 October 2020.
On September 2020, CrayoNano completed a capital increase with gross proceeds of NOK 127,9 million (almost USD$15 million) through private placements. The proceeds will be used to bring the company’s nanowire- and graphene-based UVC LED products to market.
On December 2020, CrayoNano was chosen to receive a European Union Horizon 2020 Small and Medium sized Enterprises (SME) EIC Accelerator grant of €2.4 million