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Cynora announced LG and Samsung to Invest EUR25 million (US$29.7m)
September 18, 2017

In August, we reported that Cynora received additional funding for its TADF (Thermally Activated Delayed Fluorescence) material R&D from Samsung Display following an earlier investment by LG Display. Cynora announced that LG and Samsung will invest EUR25 million (US$29.72 m) in the company. Cynora hopes to commercialize the first high-efficiency blue emitting material on the market, which is currently satisfied by Kosan Idemitsu. High-performance blue materials with 100% IQE enable lower power consumption and longer lifetime. LG Display and Samsung Venture Investment Corporation (Samsung Ventures) have decided to invest EUR25 million in a Series-B round to support development of a portfolio of organic emitting materials that cover the full range of colors. The new shareholders will join the existing investors MIG, Wecken & Cie and KfW, Cynora said. Founded in 2008, Cynora, is currently focused on high-efficiency blue OLED emitting materials, but has plans to offer materials of all colors by 2019. Cynora has established representation in Korea and China and is working closely with its customers on material and device development. Cynora singular focus on developing a TADF blue emitter compares to competitor Kyulux, which announced a partnership with WiseChip, a producer of PMOLED displays (Passive Matrix OLED) that will generate PMOLED displays using the company’s TADF materials by the end of this year.  Kyulux has also received investments from Samsung, LG Display, Japan Display and JOLED.