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Acreo spins-off IRnova

March 2, 2007

Acreo will spin off its IR detector business, creating new company IRnova.


KISTA, Sweden -- Acreo AB is spinning off its successful infrared detector activity to a separate company, IRnova AB. IRnova is based on Acreo's deep experience in development and production of QWIP (Quantum Well Infrared Photodetectors) and is the obvious conclusion to a growing business refined from several years of research and development. The new company signifies Acreo's strong long term commitment to provide competitive IR solutions to the market. IRNova will be owned by Acreo and the employees with Acreo as the major shareholder.

Acreos QWIP activity has historically had a limited customer base, delivering the major part of its production to the leading company in infrared cameras and systems, FLIR Systems. The close collaboration with a demanding customer at an early stage has been critical for the success. The production capability was substantially increased during 2005/6 and IRnova is now capable of producing thousands of IR detectors per year. An intensive global market penetration has taken place during the last year, showing a strong interest from major players on the world-wide market and resulting in new orders, projects and customers with a need for volume production of QWIP detectors. Right at the start IRnova is already the leading supplier of detectors and solutions focused on QWIP focal plane arrays.

Military applications have been dominating in the past, but now interesting new application areas in the industrial segment are developing, providing an even higher potential for IRnova products in the future. IRnova's ambition is to keep the position as the leader in QWIP-technology, and at the same time continue to develop the detector technology to meet the requirements from new applications on the market.

"We are happy and proud to be able to start IRnova", says Hans Hentzell, managing director of Acreo. "Acreo in cooperation with FLIR Systems, FMV and VINNOVA has developed advanced nano-electronics for non-visible wavelengths during several years. We are encouraged by the strong interest from several new customers and the fact that the activity has matured to be spun off to a separate company clearly shows Acreo's ability to refine research to real business. The dedication of Acreo and IRnova to further develop new high resolution IR detectors is shown by the R&D center IMAGIC operated by Acreo in cooperation with other industry partners."

"We will even further increase our efforts and enhance our production with the goal to become an important supplier, and natural source, of infrared detector technology to the global market" says Bernhard Hirschauer, appointed as the managing director of IRnova AB.

About Acreo
Working with contract R&D in microelectronics, optics and communication technology, Acreo provides innovative solutions contributing to growth and profitability. Acreo specializes in semiconductor technology, organic electronics, fiber optics and optical networking. Specifically Acreo has a long term commitment to the development of advanced IR detector technology. More info is available at the company's Web site.

About IRnova
IRnova is spun off from Acreo to a separate company in 1Q of 2007. IRnova specialize in providing advanced IR products and technology to demanding customers. To read more about products and offerings please visit the Web site.

Press Contact
Acreo: Anders Josefsson, Marketing Manager
Tel: +46 8 632 7787, email: anders.josefsson@acreo.se

IRnova: Lars Karlsson , Director Business Development
Tel : +46 70 521 1208, email: lars.karlsson@ir-nova.se


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