Novalux Inc., developer of Novalux extended-cavity surface-emitting laser (NECSEL) technology, announced that it has closed its Series B financing for up to $21.7 million. The company also said it has signed a joint development and license agreement with Unaxis Optics of Switzerland for NECSEL-based red, green, blue (RGB) illumination devices for projection display products. Unaxis Optics, a maker of optical thin-film products for projection displays, led the financing round, Novalux said. Previous investors, including Crescendo Ventures (Palo Alto, Calif.), Morgan Stanley Venture Partners (New York), Dynafund Ventures (Torrance, Calif.) and Tredegar Corp. (Richmond, Va.), also participated. Novalux said it will use the capital to complete NECSEL product development and enhance its production infrastructure. In addition, Novalux and Unaxis Optics signed a development and license agreement under which Novalux licenses its RGB laser reference design and supplies Unaxis with NECSEL semiconductor chips. Unaxis will then mass produce and distribute RGB laser modules in the projection display market. "Our joint agreement will allow NECSEL laser technology to permeate projection display applications via RPTVs and front projectors, and will open new markets such as pico-projection," said Novalux Chairman and CEO Jean-Michel Pelaprat. Lasers have long been recognized for their potential as illumination sources for projection applications due to their wide color gamut and high light energy efficiency. Historically, however, they have lacked the power, small form factor and cost performance to realize laser-based projection display. NECSEL lasers overcome these obstacles, Novalux said, in a package smaller than a matchbox. For more information, visit: www.novalux.com