Coherent Corp to come up with first global center of excellence in India
Coherent Corp on Tuesday signed a tripartite Memorandum of Understanding with Guidance Tamil Nadu and IIT Madras Research Park (IITMRP) to establish its inaugural global Centre of Excellence (CoE).
The CoE will be situated in the IITMRP campus at Taramani and will concentrate on research and development (R&D) of products and services for lasers, optical networking components and systems, electric vehicle batteries, and compound semiconductor devices. These are geared towards rapidly expanding markets driven by mobile, intelligent, and electric applications. Coherent Corp, based in Saxonburg, Pennsylvania, is a global leader in materials, networking, and lasers for the industrial, communications, electronics, and instrumentation sectors.
Coherent has R&D, manufacturing, sales, and distribution facilities across more than 130 locations in over 20 countries. The Tamil Nadu government, recognising the strategic significance of collaborating with Coherent, held discussions that included T R B Rajaa, Industries, Investment Promotion and Commerce Minister of Tamil Nadu, and Vincent D. Mattera, chief executive officer of Coherent Corp.
The vibrant innovation ecosystem at IITMRP, developed under the capable leadership of Ashok Jhunjhunwala, and the abundance of advanced engineering talent in the state were key factors in Coherent’s decision to establish its first global centre of excellence in Tamil Nadu, according to a government statement.
“We are pleased that Coherent Corp, a firm that plays an important role in the semiconductor value chain, has chosen Tamil Nadu for its inaugural global Centre of Excellence (CoE). The combination of the state’s dynamic business ecosystem, unparalleled talent pool and the presence of leading academic institutions makes Tamil Nadu a preferred destination for companies like Coherent,” Rajaa said.
“From R&D to large-scale commercialisation, innovation and nurturing young talent are the goals of IITMRP. Joint collaboration with Coherent, focusing on materials, networking, and lasers for various markets, will greatly benefit the IITM and IITMRP community. We would like them to establish manufacturing in Tamil Nadu and will facilitate this,” said Jhunjhunwala, president of IITM Research Park.
“India offers numerous areas of opportunity for our company,” said Giovanni Barbarossa, chief strategy officer and president, Materials Segment, for Coherent.
“India is a swiftly growing market for Coherent Corp, with an estimated total addressable market of nearly $2 billion, expected to grow at a 40 per cent compound annual growth rate over the next five years. It serves as an excellent base for our manufacturing operations and an ideal centre for our R&D activities. This significant investment in the Centre of Excellence demonstrates our commitment to partnering with India and investing in Indian talent to develop and expand cutting-edge technology in the country. The availability of talent and the ready-to-use research park, which offers access to world-class facilities, were primary factors in choosing Chennai, and we are excited to commence our operations,” he added.