LG Display and Samsung Venture Investment Corporation 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.
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 believes they 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.
“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.”