LONDON Technology Capital SA of Luxemburg has invested 21 million euro (about $27.5 million) in roll-up display pioneer Polymer Vision taking the company out of the majority ownership of Royal Philips Electronics NV.
Technology Capital's 21 million euro investment in the company makes it the largest shareholder while Philips retains a 20 percent stake the company.
Polymer Vision (Eindhoven, The Netherlands), working with E Ink Corp., demonstrated a handheld device with a roll-out electronic display at the Internationale Funkausstellung (IFA) consumer electronics exhibition held in Berlin in September 2006. Polymer Vision describes the device, dubbed Readius, as a “mobile e-reader” and claimed it would demonstrate the viability of its roll-up display. It is easy to read, even in bright sunlight, and has significantly lower power requirements than an LCD display with backlight, the company has claimed.
Polymer Vision was formed four years ago as part of a technology "incubator" formed to transform Philips research into business opportunities. The company is the first spinout from the incubator.
The venture capital is set to help Polymer Vision continue with commercialization plans. Volume production of its 5-inch monochrome rollable display is set to start this year.
"With a solid investment partner in Technology Capital and a first-rate team of people in Polymer Vision we can now focus on commercializing the first step of our journey to getting a rollable display into every mobile device," said Karl McGoldrick, chief executive officer of
Polymer Vision, in a statement.
Philips incubator companies included Handshake Solutions NV, which has developed asynchronous logic technology and Philips 3D Solutions, a vendor of 3D displays.