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).
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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