Coherent Corp, an American manufacturer of optical materials and semiconductors, on Tuesday signed an agreement with Guidance Tamil Nadu, a state government agency, and IIT Madras Research Park (IITMRP) to establish a global centre of excellence (CoE) in Chennai.
The CoE, the first such by the company, will be set up in the IITMRP campus in Taramani to research and develop products and services for lasers, optical networking components and systems, electric vehicle (EV) batteries, and semiconductor devices. Coherent, which is headquartered in Saxonburg, Pennsylvania, is a global leader in materials, networking, and lasers for industrial, communications, electronics, and instrumentation markets.
The company has research and development (R&D), manufacturing, sales, and distribution facilities in more than 130 locations across over 20 countries.
The innovation ecosystem at IITMRP and engineering talent in the state are key reasons for Coherent’s decision to set up its first global centre of excellence in Tamil Nadu, said a government statement.
“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 Center of Excellence (CoE). We are also 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.
“R&D to scale commercialisation, innovation, and nurturing young talent are the objectives of IITMRP. Joint collaboration with Coherent, with its focus on materials, networking, and lasers for the industrial, communications, electronics, and instrumentation markets, will immensely benefit the IITM and IITMRP community. We will like them to set up manufacturing in Tamil Nadu. We will make this possible,” said Ashok Jhunjhunwala, president of IITM Research Park.
“India represents many areas of opportunity for our company,” said Giovanni Barbarossa, chief strategy officer and president, materials segment, Coherent.
“India is a rapidly growing market for Coherent Corp with an almost $2 billion (total addressable market) growing at a 40 per cent CAGR (compound annual growth rate) over the next five years. It is a great base for our manufacturing operations and an ideal hub for our R&D activities. 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.