Lithicon: Innovation leads to commercial success
A high-technology company set up by The Australian National University and UNSW Australia has been sold for $76 million (US$68 million).
The company, Canberra-based Lithicon AS, has been sold to the US-based FEI Company, a world leader in imaging technology for a range of markets, including oil and gas exploration. ANU will receive $11 million from the sale proceeds, representing a five-fold increase in its original investment, and UNSW will receive $4 million.
The sale is the most significant commercial spinoff for ANU in the past decade, and underlines the strength of the University’s research and partnerships with industry. Today, Lithicon AS employs 18 people in Canberra and markets its services to resource companies around the world.