Ann Arbor Materials Developer Coretec Group to Acquire Core Optics in Virginia

The Coretec Group in Ann Arbor, a developer of materials for lithium-ion batteries and 3-D display technology, has agreed to acquire Core Optics, which has its North American headquarters in Virginia. Terms of the transaction were not disclosed.
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Coretec machinery
The Coretec Group in Ann Arbor plans to acquire all the interests of Core Optics. // Photo courtesy of Coretec

The Coretec Group in Ann Arbor, a developer of materials for lithium-ion batteries and 3-D display technology, has agreed to acquire Core Optics, which has its North American headquarters in Virginia. Terms of the transaction were not disclosed.

Core Optics specializes in the design and fabrication of inspection and assembly machinery for the compact camera module (CCM) industry. Its interests include the rights to more than 30 patents.

Going forward, Seonkee Kim will assume the title and responsibilities of CEO of Coretec, which manufactures silicon anode active materials for lithium-ion batteries, and cyclohexasilane for EV, cleantech, and 3-D display technology. He has experience in the CCM industry as well as experience in lithium-ion batteries. He will lead the Cortec’s Endurion battery program.

With commercial products and sales channels in established industries also considered high growth, including automotive and virtual reality/augmented reality, Core Optics has solidified its position as a market leader for providing pivotal process solutions, says Matthew Kappers, CEO of The Coretec Group.

Core Optics recently expanded its service scope to encompass the growing EV market. This is one of the reasons that The Coretec Group’s proprietary technology is so complementary, as its Endurion battery development program markets to the same customer base, says Kappers.

“The Coretec Group is laser-focused on developing technologies that are attractive to end user customers, as well as larger manufacturing and distribution partners capable of taking the technology and rapidly scaling and deploying it,” says Kappers.

“We have found that ideal partner in Core Optics, a group of innovators with a proven track record of establishing sales channels and customer relationships with prominent brands known across the globe.