MICRO-LED technology developed by researchers at Cork’s Tyndall National Institute has attracted funding from a Canadian investment group worth up to €1.6 million. Eight new positions are to be created as a result, with scope for further jobs by the end of 2013. The technology currently represents the world’s lowest power consumption per visible unit of light.

InfiniLED, the company founded by the research team to commercialise the technology, hopes to bring the first micro-LED products to market this year. Benefits include reduced power consumption and longer battery life for devices such as mobile phones and laptops.

The investment from Quebec-based IL Investment Group will allow InfiniLED to grow further commercial interest internationally while creating employment for up to 16 PhD graduate positions in 18 months’ time.

“The team behind IL Investment has a history of the successful growth of high technology companies. With InfiniLED we see the opportunity to continue this,” Najeeb Khalid, a principle at IL Investment, said.