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LG and Samsung invest €25 million in Cynora
Germany’s Cynora, a provider of organic emitter materials for OLEDs, has received backing the two Korean tech giants as it moves forward in its development of a new type of organic 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 aims to be able to commercialise the first high-efficiency blue emitting material on the market, which is a highly sought-after material by OLED display makers. High-performance blue materials will enable a significant reduction of power consumption and allow higher display resolution, the company states in a press release. LG Display and Samsung Venture Investment Corporation have decided to invest EUR 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 supported Cynora in the last few years. Cynora has worked closely with LG Display and Samsung during the last months to prepare this 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. “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,” says Gildas Sorin, Cynora’s CEO
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