Cynora, a German-based provider of efficient organic emitter materials for OLEDs, reported that the two Korean tech firms LG and Samsung chose to support Cynora. In fact, LG and Samsung have invested €25 million in Cynora.
Cynora is developing a new type of organic emitting materials based on TADF (Thermally Activated Delayed Fluorescence) technology. The company plans to use the new materials in OLED displays. Cynora expects that with this technology, it will be able to market the first high-efficiency blue emitting material.
Material for efficient blue OLED emission is highly sought by OLED display makers because the efficiency of current blue emitting OLED materials lags behind that of other types of OLED emission materials. For this reason, high-performance, high-efficiency blue materials are expected to enable a significant reduction of power consumption and allow higher display resolution.
LG and Samsung believe in the potential of Cynora’s technology, and LG Display and Samsung Venture Investment Corporation (“Samsung Ventures”) have decided to invest €25 million in a Series-B round of funding for Cynora. The two tech giants intend to use the investment to support the German company’s development of a collection of organic emitting materials for AMOLED displays that spans the full range of colors.
The new shareholders will join the existing investors MIG, KfW, and Wecken & Cie who have strongly backed Cynora’s growth for 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, plan to each engage with Cynora through this investment and separate joint developments to advance Cynora’s research and development and expand its IP portfolio. Both of the display firms hope that the investment lay the foundation for commercializing advanced display technologies.
“I am delighted to welcome LG Display and Samsung Ventures as CYNORA’s shareholders,” said 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.”
