DRESDEN, Germany -- Novaled GmbH, a developer of organic light emitting diode (OLED) technology, said it has secured 5.75 million euro (about $6.6 million) from a consortium of investors led by venture capital firms TechnoStart and TechFund Capital Europe.
Novaled was founded in August 2001 as a spin-off from the Institut fur Angewandte Photophysik (IAPP) of the Technical University of Dresden and Fraunhofer Institute for Photonic Microsystems (IPMS) to develop what it describes as second-generation OLED technology.
The money is to be used to bring to the market OLED materials and displays based on small molecule organic materials that only require low voltages for operation, the company said.
Novaled is developing RGB colour OLED layer structures incorporating doping technology developed at the IAPP. The inherent low operating voltage opens up possibilities for low-power driving circuitry and novel OLED layout, Novaled said.
The key factors in second generation OLEDs are low operating voltage and higher power efficiency due to the incorporation of doped charge carrier transport layers, and efficient in-line manufacturing, the company said.
The doping technology allows the OLED structure to become almost independent of substrate properties, according to the company. Thus, it is possible to incorporate high efficiency and long lifetime OLEDs on nearly any substrate, from glass to printed circuit boards, Novaled claimed.
"Our technology and expertise, covering the fields of both base technology and process, could further enable the setting up of production capabilities for very flat displays in Europe, and especially the Dresden area. In that respect we got the support from the State of Saxony, which contributes to the dynamism of a region that already hosts production units from companies like Infineon or AMD," said Jan Blochwitz-Nimoth, chief executive officer, in a statememt.
Novaled founders include: Karl Leo, head of IAPP, and his IAPP colleagues, Martin Pfeiffer and Blochwitz-Nimoth, and Joerg Amelung, who is running pilot production in IPMS.
Additional investors include Dresden Fonds, tbg, and media services and equipment company Thomson SA.