Sunday, 22 Sep 2019

LG and Samsung make €25 million series-b investment in Cynora

Cynora will work closely with LG and Samsung to support their respective activities, the cash injection will also be used to strengthen our worldwide presence as a supplier

14 Sep 2017 | Editor

Cynora has announced that LG Display and Samsung Venture Investment Corporation (Samsung Ventures) are 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 colours.

The new shareholders will join existing investors MIG, Wecken & Cie and KfW, who have strongly supported Cynora's growth over the past few years. Cynora has worked closely with both LG Display and Samsung over the past few months to prepare this strategic investment.

LG Display and Samsung Display will engage with Cynora via this investment and separate joint developments to advance the company's R&D and its growing IP portfolio.

The investment aims to lay the groundwork for enabling continued commercialisation of OLED materials.

"I am delighted to welcome LG Display and Samsung Ventures as Cynora’s shareholders"

"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 commercialise our first blue product by the end of 2017, followed by green and red."

Gildas Sorin, CEO Cynora

Technical focus: TADF development

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 commercialise 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.

Commercial focus: AMOLED displays

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 (source: UBI Research, 2017).

Source: Cynora

www.lgdisplay.com    www.cynora.com    www.samsungventures.com   

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.

Source: Cynora

About Samsung Venture Investment Corp

Samsung Venture Investment Corporation manages investment and investment-related activities for Samsung affiliate companies. The investment mandate for Samsung Venture Investment Corporation tracks closely to the strategic priorities of Samsung affiliate companies' core operating divisions, and encompasses investments in semiconductors, displays, telecommunications, and consumer electronics.

Source: Samsung Venture Investment Corp

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