Wednesday, 17 Jul 2019

Flexenable to take upto €5 million investment from Novares Venture Capital

The investment is the first step in an exciting partnership to develop innovative glass-free flexible electronic displays and sensors or “smart surfaces” for automotive applications

27 Apr 2018 | Editor

Novares Venture Capital has announced it will invest €2.5 million now and another €2.5 million scheduled for 2019, providing that market feedback on the innovation remains positive. This will - according to the announcement - give Novares a "significant" equity stake in FlexEnable.

In February this year, Novares created Novares Venture Capital, managed by the Group, to support new businesses and start-ups with technical expertise in fields adding value to Novares’ products, such as

The investment is the first step in an exciting partnership to develop innovative glass-free flexible electronic displays and sensors or "smart surfaces" for automotive applications.

It will combine Novares' expertise in designing and manufacturing automotive parts with FlexEnable's bendable, wrappable, glass-free plastic electronics technology.

The flexibility provided by this technology, together with Novares' integrator know-how, can give automotive designers a much larger variety of shapes to work with, and replace the present flat screens that are not ideally suited to the current car interiors.

Novares sees many future applications of the technology for example in the company's "Flex View" innovation (exterior revolving mirrors and camera with an integrated flexible screen for rear view) this has been integrated on Nova Car #1 and highlights the potential of flexible and conformable displays.

Incorporating flexible screens on interior parts manufactured by Novares is a next step in this development, aiming to satisfy the creativity of automotive designers, assist drivers and improve overall passenger experience.

In order to bring new innovations quickly to market for the benefit of its customers, Novares Venture Capital will seek to further invest in technological innovators to gain access to the latest technologies and influence the direction of development into areas of interest for car manufacturers.

In 2017, to speed up its Research and Development projects, Novares Group also signed a multi-year framework agreement for collaboration with public research organisation CEA (Atomic Energy Commission) to industrialise and commercialise existing and new technologies for future connected, autonomous, electric and hybrid vehicles.

"Open to current or future partners and co-innovators, such as Actronika and Quad, the new fund will reinforce the Group’s strategy, in terms of strategic mergers and acquisitions (M&A) combined with strategic research and development (R&D) activities. This will support Novares' new solutions for clean, light, connected and autonomous cars that are user-friendly, incorporating HMIs (Human Machine Interfaces) with an improved passenger experience."

Pierre Boulet, Novares CEO

"We are delighted to be supported by Novares who have taken a leadership position in bringing smart surfaces to the automotive supply chain. With the automotive display market valued at $22bn by 2022, this investment is a further validation of FlexEnable’s glass-free display technology and its potential to serve the growing demand for low-cost, high-reliability, conformable and shapeable displays to meet the evolving needs of the automotive HMI."

Chuck Milligan, CEO of FlexEnable

www.flexenable.com    www.novaresteam.com   

About Novares

Mecaplast – Key Plastics rebranded as Novares on 19th 2017.

Novares is a global plastic solutions provider that designs and manufactures complex components & systems serving the future of the automotive industry. The company creates and produces cutting edge automotive parts, specializes in technical plastic injection that contributes to cleaner, lighter, more connected, user-friendly cars.

Novares provides engineering and manufacturing expertise to virtually every OEM and many Tier-1 companies in the automotive market. Novares’ estimated 2017 revenues amount to €1.2 billion.

Headquartered in France, the group is present in 21 countries, runs 42 manufacturing plants, 7 Skill centers, 5 Technical centers, 17 customer service centers, around the globe to partner with customers.

Source: Novares

About Flexenable

FlexEnable has pioneered the world's first flexible electronics technology platform that allows electronics made of organic materials to be manufactured on flexible plastic film, the thickness of a sheet of paper. Compatible with existing manufacturing lines, it is the key to truly flexible and cost effective electronics over large and small surfaces.

The core applications of this technology are glass-free, flexible displays and sensors that enable game-changing products across a variety of industries including consumer electronics, automotive, digital signage, wearables, medical and security.

FlexEnable's customers include OEMs, component manufacturers and materials suppliers. The company offers a comprehensive range of services-based packages for its technology platform including: ProductEnable, MaterialsEnable and FabEnable.

Source: Flexenable

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