Great Lakes Crystal Technologies (GLCT), a high-tech startup in Michigan’s Capitol Region, announced today that it has closed on the acquisition of Cove Diamond, LLC (Cove). Cove was launched in April 2019 with a mission to commercialize innovative diamond patterning technology licensed from Michigan State University (MSU).
GLCT was launched in August 2019 with a mission to become the leading provider of high-performance diamond materials for high-technology applications. GLCT’s intellectual property portfolio includes a bundle of diamond manufacturing technology patents which it licensed from MSU in 2020.
The technical founder of both companies is MSU Electrical and Computer Engineering Professor Timothy Grotjohn, a world-renowned expert in diamond materials and applications. Professor Grotjohn is an inventor on all of the patents licensed to both companies.
Dr. Grotjohn, who serves as GLCT’s technical advisor, commented, “Combining Cove and GLCT will allow an increased range of diamond products and an acceleration of product development.”
Dr. Keith Evans, GLCT co-founder and its president and CEO, added, “We’re excited to complete this highly strategic transaction. The combination of GLCT and Cove strengthens our intellectual property portfolio and presents a number of benefits to our product and technology roadmaps.”
Dentons US LLP represented GLCT in the deal, the terms of which were not disclosed.
About Great Lakes Crystal Technologies (GLCT)
GLCT’s mission is to become the leading provider of high-performance diamond materials for high-technology applications. GLCT launched in 2019 as a Michigan State University (MSU) startup with early support from Spartan Innovations and Red Cedar Ventures. The company has also benefited from the positive Michigan based ecosystem for startups receiving the Business Accelerator Fund and Emerging Technologies Fund, both of which are administered by the Michigan Small Business Development Center in partnership with the Michigan Economic Development Corporation. GLCT is a founding member of the Quantum Economic Development Consortium, a member of the Inaugural Cohort of the Duality Quantum Accelerator, and a member of the Resilient Infrastructure + Secure Energy (RISE) Consortium. For more information about GLCT visit their company website or send them an email.
