FlexEnable raises $11-$25M to take flexible displays and active optics to mass production

Chuck Milligan, CEO of FlexEnable, said: "Having industry heavyweight Coretronic on board as an investor and partner is further validation of both FlexEnable's business model and our technology leadership in the materials and processes which enable volume production of unique flexible optical modules and displays. As a principal player in the LCD supply chain, Coretronic's deep industry expertise will be a great benefit to us as we now move from production setup to mass production. We are very excited to have strong new investors on board, and very grateful for the on-going support from Rusnano and Novares, who have been instrumental in enabling us to develop our technology and great commercial projects over the past years."

Chuck Milligan, CEO of FlexEnable, said: "Having industry heavyweight Coretronic on board as an investor and partner is further validation of both FlexEnable's business model and our technology leadership in the materials and processes which enable volume production of unique flexible optical modules and displays. As a principal player in the LCD supply chain, Coretronic's deep industry expertise will be a great benefit to us as we now move from production setup to mass production. We are very excited to have strong new investors on board, and very grateful for the on-going support from Rusnano and Novares, who have been instrumental in enabling us to develop our technology and great commercial projects over the past years."

FlexEnable's business model uses existing and underutilized display production capacity to manufacture flexible displays and LC optics using its FlexiOM™ organic semiconductor materials and manufacturing process IP, via technology transfer, licensing and contract manufacturing arrangements with Asian flat-panel display (FPD) production lines. The company already has four active technology transfer programs underway with several leading display manufacturers in Asia, with first volume production ramp starting in second half of 2022.

"Our consumer electronics partners and customers continue to demand increased functionality in their products coupled with improved form factors. The FlexEnable technology can enable new functionalities in lighter, thinner and even curved devices, and we look forward to working with the FlexEnable team to bring these new products into volume production," commented Sarah Lin, President of Coretronic.

"The next 12 months are very exciting with the first of a series of manufacturing partnerships entering volume production, bringing recurring revenues and rapid revenue scale-up. In addition to manufacturing partnerships, we have significant commercial programs with several of the world's biggest OEM/brands in consumer electronics, where our technology is needed to bring game-changing functionality to the surfaces of future products," added Milligan.

About FlexEnable

With around 700 patents and more than 1000 engineering years in the development of organic materials and manufacturing processes, FlexEnable is the worldwide leader in organic electronics. We have developed and industrialized a complete low-temperature manufacturing process for small and large-area organic electronics on ultra-thin plastic substrates. FlexEnable also owns the best-in-class, highest-performance organic materials - FlexiOM™ - making us the only company to offer both organic materials and industrially-proven enabling manufacturing processes. FlexEnable is bringing organic electronics technology to market in a fabless business model. Our processes and solutions have been developed for use on existing flat panel display lines, leveraging existing assets and supply chain. Applications for FlexEnable's technology include flexible displays and flexible active optical films for consumer electronics, AR/VR and automotive applications. FlexEnable supplies FlexiOM™ materials and transfers and licenses its unique technology platform to display manufacturers. We also work directly with OEM and Tier 1 companies on developing next generation products, from design to prototyping and product qualification all the way to volume production.

For more information please visit www.flexenable.com or contact [email protected].

Logo - https://mma.prnewswire.com/media/1748627/FlexEnable_logo.jpg