LG and Samsung invest €25 million in CYNORA
14 September 2017 - 9:05AM
Business Wire
CYNORA, a leading provider of highly efficient organic
emitter materials for OLEDs, announced today that the two Korean
tech giants have decided to support CYNORA on its way to becoming a
major player for OLED emitting materials.
CYNORA is developing a new type of organic emitting materials
for OLED displays based on TADF (Thermally Activated Delayed
Fluorescence) technology. With this technology, CYNORA will be able
to commercialize the first high-efficiency blue emitting material
on the market, which is the most sought-after material by OLED
display makers. High-performance blue materials will enable a
significant reduction of power consumption and allow higher display
resolution.
LG Display and Samsung Venture Investment Corporation (“Samsung
Ventures”) have decided to invest €25 million in a Series-B round
to support the German company in the development of a portfolio of
organic emitting materials for AMOLED displays that covers the full
range of colors. The new shareholders will join the existing
investors MIG, Wecken & Cie and KfW, who have strongly
supported CYNORA’s growth in the last few years. CYNORA has worked
closely with LG Display and Samsung during the last months to
prepare this strategic investment.
LG Display and Samsung Display, both major companies in display
technologies, will engage each with CYNORA via this investment and
separate joint developments to advance CYNORA´s R&D and its IP
portfolio. The investment will lay the groundwork for enabling
commercialization of advanced display technologies.
“I am delighted to welcome LG Display and Samsung Ventures as
CYNORA’s shareholders” says Gildas Sorin, CYNORA’s CEO “This
investment confirms that our materials are highly attractive for
the OLED display industry. CYNORA will work in close collaboration
with LG and Samsung to support their respective activities. The
cash injection will also be used to strengthen our worldwide
presence as a supplier of high-efficiency emitting materials. We
will commercialize our first blue product by the end of 2017,
followed by green and red.”
Growing use of AMOLED panels in premium TVs and smartphones will
drive the OLED panel market to reach $75 billion, with a CAGR of
31%, in sales by 2021 (UBI Research, 2017).
ABOUT CYNORA
Founded in 2008, CYNORA is a leader in TADF technology. The
company's focus is currently on high-efficiency blue OLED emitting
materials, but it has plans to offer materials of all colors by
2019. CYNORA has established representation in Korea and China and
is working closely with its customers on material and device
development. The company owns a broad IP portfolio with over 100
patent families.
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cynora GmbHJoanna Wrzeszczphone: +49 7251 919
670wrzeszcz@cynora.com