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=m EWS ERRY PENDER pender@therecord.com A Waterloo startup that 2 makes microscopic LEDs icle | Thursday, April 6, 2023 4 and plans to re > double the size of its work- force over the next three rears, Since it was founded sev- en years ago, VueReal ne overcame the cal es of and sensors that range from two microns to 20 mi- crons in size — a human hair is about 70 microns thick. ultra-tiny sensors developed by VueReal will have many futuristic appli- cations that could revolu- tionize biotechnology, health care, advanced mai ufacturing, among other sectors, said CEO Reza Chaji in an interview last week. VueReal says it is all about scalable nanotech- nology for next-generation applications, Chaji saic The money announced last week from Sustainable Development Technology Canada and Invest Ontario will be added to the $18.5 ion US_ investment raised in April 2022, andthe expected sales revenue from VueReal technology during the next three years. to pay for a $40-million ex- market," said Chaji. "Then, we want to work with some smaller companies on the consumer market." VueReal has developed cutting-edge tech that low- ers the cost of making LEDs that also use less power to operate, Chaji said. “They are way more effi- cient to run compared to traditional devices," said Chaji. Mathew McCarthy / Waterloo Region Record Reza Chaji, left, and Ehsan Fathi of VueReal stand Monday next to a room that houses a micro solid printer at their Waterloo office. The tech firm plans to more than double the size of its. workforce over the next three years. The global market for micro LEDs was about $592 million US in 2021. It is ex- pected to grow by 80 per cent a year until 2030. It is advanced display technolo- gy that does not use organ- ic materials, lasts longer than traditional LEDs and provides clearer images on screens. Critical supplies of LEDs and sensors during the first ars of the facturing to North Ameri- ca. Chaji said VueReal's technology to print LEDs and sensors is made for that mar] "This is a solution that can be scaled,” hesaid. "You can do it anywhere." VueReal is among the region's startups that em- ploys engineers for hard- a lions of super-tiny LED: and sensors, nd also sells the technology so other companies can make them. Described as a semicon- ductor and cleantech com- pany, VueReal developed a ting platform for the ef- ficient, practical and scal- able producti f mic LEDs and sensors. This platform extends the use of micro LEDs and sensors to several sectors of the econ- omy — automotive, aero- space, smartwatch, s! phone, television, informa- tion technology, medical, and more, says Sustainable Development Technology 3 "We had a lot of collabo- ration with the University “WATERLOO STARTUP GETS $10.5 MILLION TO SCALE NEW TECH of Waterloo, and we hired a lot of talent from there," said Chaji. In announcing the gov- ernment funds on March 27, Waterloo MP Bar Chagger called Yuck th the ae of startup that is try- to transform the world and solve some of its major challenges. “When we invest in clean technology, we are in- vesting a strong economy and a more sustainable fu- ture," said Chagger in a Prepared statement. who has used a oman outside on a sunny day will appreciate the innovation that | ne Real is creating. Their mi- croLED technolo; ogy will not only make screens brighter but will use less energy and create less waste in their production process," added hey nce, president and CEO, Sustainable De- velopment Technology Canada. waterloochronicle.ca C-103 95 King St S. lee own Waterloo Not valid with any other coupons or: offers. Valid-until May 31st; 2023. Waterloo store location only. of any 5 fresh meals. o0e@ macrofoods ‘www.macrofoods.ca_