Japanese Firm to Work with NM Laboratories, Universities and CleanAIR Systems
Associated Press - June 2004
Gov. Bill Richardson on Monday announced an agreement with a Japanese company, Itochu Corp., to commercialize technology from national laboratories in New Mexico and the state’s three research universities.
Richardson, traveling in Tokyo, said the company would work with Sandia and Los Alamos National Laboratories and The University of New Mexico, New Mexico Tech and New Mexico State University.
The memorandum of understanding between Itochu Corp. and the state provides a way for the Tokyo-based conglomerate to work with the state Economic Development Department and New Mexico businesses.
Itochu plans to invest in companies and venture funds, create licensing and distribution agreements and form collaborations with research facilities to bring new technology to the global market. Itochu’s primary areas of interest are nanotechnology and biotechnology, which it said are two of New Mexico’s strong research areas.
“This is an important step that will allow New Mexico to convert the $6 billion dollars of research and development in our state into new jobs, new products and new companies,” Richardson said in a news release.
The agreement resulted from four meetings over 17 months between the Economic Development Department and Itochu, both in New Mexico and Japan. Officials from Itochu visited New Mexico in April for briefings by representatives of the labs and universities.
Richardson’s office quoted Eizo Kobayashi, senior managing director and incoming president of Itochu, as saying New Mexico provides a world-class foundation for research and development.
Itochu said the agreement will have an impact on an agreement recently signed by Itochu with CleanAIR Systems, a Santa Fe company that has developed diesel emission control technology; a distribution and licensing agreement with Lumidigm, an Albuquerque biotech company; and negotiations over potential investment in Zircle, a New Mexico venture capital fund focused on developing new products with Sandia, Richardson’s office said.
The governor said CleanAIR Systems will add up to 80 new jobs next year because of its own development agreement with Itochu to market clean truck-emission technology in Asia. The companies will work to develop a system to reduce emissions of nitrogen oxides, a lung irritant and smog-forming chemical produced by diesel engines.
Richardson was in Tokyo to meet with executives from Toyota and to speak at a gathering of Japanese business leaders, marketing New Mexico to their corporations. He also met with business executives and Japanese officials in Seoul, South Korea, where he attended a meeting of the World Economic Forum.
“We are promoting New Mexico’s business assets,” he said. “And we are encouraging these companies to consider New Mexico for expansion of their US business interests.”
He said Japan’s economy is the second largest in the world, and there is a high level of interest in technology coming out of New Mexico. “As we open up new markets for New Mexico companies, that means more jobs for New Mexicans,” he said.
Richardson and Economic Development Secretary Rick Homans hosted three executives at a breakfast Monday. “It’s been very productive so far,” Homans said in a phone interview with The Associated Press.
He said he and Richardson were meeting with officials from several renewable-energy companies to “pitch New Mexico as a partner, especially with renewable energy because that’s such an issue with South Korea.”
Gov. Bill Richardson on Monday announced an agreement with a Japanese company, Itochu Corp., to commercialize technology from national laboratories in New Mexico and the state’s three research universities.
Richardson, traveling in Tokyo, said the company would work with Sandia and Los Alamos National Laboratories and The University of New Mexico, New Mexico Tech and New Mexico State University.
The memorandum of understanding between Itochu Corp. and the state provides a way for the Tokyo-based conglomerate to work with the state Economic Development Department and New Mexico businesses.
Itochu plans to invest in companies and venture funds, create licensing and distribution agreements and form collaborations with research facilities to bring new technology to the global market. Itochu’s primary areas of interest are nanotechnology and biotechnology, which it said are two of New Mexico’s strong research areas.
“This is an important step that will allow New Mexico to convert the $6 billion dollars of research and development in our state into new jobs, new products and new companies,” Richardson said in a news release.
The agreement resulted from four meetings over 17 months between the Economic Development Department and Itochu, both in New Mexico and Japan. Officials from Itochu visited New Mexico in April for briefings by representatives of the labs and universities.
Richardson’s office quoted Eizo Kobayashi, senior managing director and incoming president of Itochu, as saying New Mexico provides a world-class foundation for research and development.
Itochu said the agreement will have an impact on an agreement recently signed by Itochu with CleanAIR Systems, a Santa Fe company that has developed diesel emission control technology; a distribution and licensing agreement with Lumidigm, an Albuquerque biotech company; and negotiations over potential investment in Zircle, a New Mexico venture capital fund focused on developing new products with Sandia, Richardson’s office said.
The governor said CleanAIR Systems will add up to 80 new jobs next year because of its own development agreement with Itochu to market clean truck-emission technology in Asia. The companies will work to develop a system to reduce emissions of nitrogen oxides, a lung irritant and smog-forming chemical produced by diesel engines.
Richardson was in Tokyo to meet with executives from Toyota and to speak at a gathering of Japanese business leaders, marketing New Mexico to their corporations. He also met with business executives and Japanese officials in Seoul, South Korea, where he attended a meeting of the World Economic Forum.
“We are promoting New Mexico’s business assets,” he said. “And we are encouraging these companies to consider New Mexico for expansion of their US business interests.”
He said Japan’s economy is the second largest in the world, and there is a high level of interest in technology coming out of New Mexico. “As we open up new markets for New Mexico companies, that means more jobs for New Mexicans,” he said.
Richardson and Economic Development Secretary Rick Homans hosted three executives at a breakfast Monday. “It’s been very productive so far,” Homans said in a phone interview with The Associated Press.
He said he and Richardson were meeting with officials from several renewable-energy companies to “pitch New Mexico as a partner, especially with renewable energy because that’s such an issue with South Korea.”
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