SALDtech announced that it has closed a second investment round with Innovation Industries, a high-tech VC fund, and BOM, Brabant Development agency.
TNO, through its subsidiary Holst Centre
, has invested more than 10 years in developing a new technology called Spatial Atomic Layer Deposition to produce large area ultra-thin layers with world-class performance.
SALDtech, a spin-off of TNO, will use the investment to develop and build production equipment to be integrated into the production lines of next-generation flexible OLED displays for mobile phones, tablets, TVs and more.
"SALDtech will continue to cooperate closely with TNO on process innovation and will use the expertise on high tech equipment as readily available in the Eindhoven area for our product development," SALDtech CEO Huib Heezen said.
"SALDtech's technology has the ability to change the way we are working and interacting with displays and thereby addresses a huge market," said Nard Sintenie, partner at Innovation Industries.
"Both Innovation Industries and BOM have multiple investments in TNO spin-offs, which shows the potential of the research we are doing at Holst Centre and TNO for the Dutch high tech industry. This investment is the next step in strengthening the Dutch economic position and Brainport in particular," added Jaap Lombaers, director at TNO.