January 24, 2007
By: by Small Times Magazine
Jan. 23--ALBANY -- The University at Albany has been awarded $750,000 by the New York State Office of Science, Technology and Academic Research to work jointly with Vistec Lithography Inc. to develop the company's electron beam technology.
Vistec and the College of Nanoscale Science and Engineering will work together on bringing the technology -- which would enable the production of increasingly powerful computer chips -- to market. Vistec is moving its headquarters and other operations from Cambridge, England, to quarters at Watervliet Arsenal and Albany NanoTech.
The electron beam technology would be able to etch integrated circuits at the nanoscale level.
The money was awarded under NYSTAR's Technology Transfer Incentive Program.
In October, Assembly Speaker Sheldon Silver and Assemblyman Ronald Canestrari, D-Cohoes, announced that the Assembly would provide $30 million to enable Vistec's move, the first time a high-tech company has moved its entire operation to the Capital Region.
"This award from NYSTAR gives Vistec Lithography a critical competitive advantage in the global technology marketplace, supporting and enhancing its plans for growth in the Capital Region," said Canestrari, now the Assembly majority leader.
Under terms of its agreement to move here, Vistec will invest $125 million at Watervliet Arsenal and create 130 jobs.
On Wednesday, Vistec will hold a job fair at the Albany NanoTech complex on Fuller Road. It plans to hire 60 employees this year to work either at the arsenal or at Albany NanoTech.
NYSTAR's technology transfer incentive program is designed to help New York companies quickly move new technology and ideas to the marketplace.
"This grant from NYSTAR will enable cutting-edge research that will ensure Vistec Lithography's global leadership in nanoscale patterning technology, while also providing unparalleled educational opportunities for the Capital Region through our Center for Nanolithography Development," said Alain E. Kaloyeros, vice president and chief administrative officer of the College of Nanoscale Science and Engineering.