AMD to open U.S. subsidiary for defense, aerospace nanotechnology
AMD Inc., based in Austin, Texas, has a broad license to all parent company IP and will continue to invest in R&D projects with the group’s existing university partners.
Source | Shutterstock/AMD
Advanced Material Development Ltd. (AMD) announces the successful completion of a deal setting up a new U.S. subsidiary company, Advanced Material Development Inc. (AMD Inc.), to address the worldwide defense and aerospace market.
Based in Austin, Texas, the new company will be headed by Richard Lee as CEO and professor Alan Dalton, AMD’s chief scientific officer, both of whom have relocated to the U.S. to launch the new business. AMD’s worldwide operations for its core non-defense markets will continue to be based in the U.K. As part of the transaction, AMD Inc. also brings in new board members of highly experienced C-Suite U.S. nationals with strong industrial backgrounds.
AMD Inc. has a broad license to all of AMD’s background intellectual property (IP) and will continue to invest in R&D projects with the group’s existing university partners at Sussex and Surrey as well as building a new U.S.-based research capability.
“This move has been on the cards for some time as we have built a strong relationship with various U.S. government departments and funding areas over recent years, including the Department of Defense and Homeland Security,” explains Lee. “It also fits with our model of creating specialized subsidiaries in specific industry verticals to provide maximum focus in those areas, while maintaining AMD Ltd. as a core licensing and IP company. In bringing the broad skill sets of Jeff Tschetter, Paul Olson and Al Hoover to the company, we have secured a highly experienced group of U.S. executives that will provide governance and ongoing funding in the support of our two founders, Alan and Richard, to drive this new venture.”
AMD is a nanotechnologies company, creating solutions that are transferable from “lab proven” to realizing their real-world value. The company recently made an announcement joining Huntsman Corp. (The Woodlands, Texas, U.S.) to develop carbon nanotube (CNT)-integrated functional composite materials in the U.S.
According to Jeff Tschetter, chairman of AMD Inc., the U.S. subsidiary will place a role in the future of materials science, “particularly in sectors where innovation and reliability are paramount.”
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