Novaled AG, a German developer of organic light-emitting diodes for lighting and display products, has raised €8.5 million in third-round funding. Participants include eCAPITAL, TechnoStart, KfW, TUDAG, Credit Agricole Private Equity, TechFund and CDC Innovation.
PRESS RELEASE
Novaled AG, leader in energy saving and long living Organic Light Emitting Diodes (OLEDs) for the new generation of lighting and display products, closed its 3rd round of financing with a volume of € 8,5 million, which were exclusively provided by existing shareholders of the company. Participants to this round were eCAPITAL, TechnoStart, KfW and TUDAG, all from Germany, as well as Credit Agricole Private Equity, TechFund and CDC Innovation from France.
“Since we joined the Novaled shareholding end of 2005, the management succeeded to develop the company into a major player within the OLED-field”, says Dr. Paul-Josef Patt, CEO of eCAPITAL. ”We are happy to support the company as lead investor of this round in further strengthening its position as a key provider of technology and materials for energy saving lighting and display applications.”
“We are proud that in the context of the current financial market environment our shareholders demonstrate their trust into the Novaled team and management by providing substantial equity financing for the company”, says Harry Boehme, CFO of Novaled AG. “These funds will support our strategy to create value to our customers by providing cutting-edge solutions for energy efficient and long living organic electronics applications.”
Novaled will use the proceeds of this financing round to extend the commercialization of its well known energy saving Novaled PIN OLED™ technology in the lighting and display field.
About OLEDs
OLEDs (Organic Light-Emitting Diodes) are semiconductors made of organic material layers of only a few nanometers thickness. They emit light in a diffuse way to form an area light source. In a fast growing display market OLEDs are key part of a revolution: the dream of paper-thin, highly efficient displays with brilliant colors and great flexibility in design is becoming reality. OLEDs represent the future of a vast array of completely new lighting applications. By combining color with shape, organic LEDs will create a new way of decorating and personalizing people’s surroundings with light. At the same time OLEDs offer the potential to become even more efficient than energy-saving bulbs.
About Novaled
Novaled AG is a world leading company in the OLED field specialized in high efficiency long lifetime OLED structures and an expert in synthetic and analytical chemistry. The company offers complete solutions to the organic electronic markets, commercializing its Novaled PIN OLEDTM technology along with its proprietary OLED materials. Novaled has developed long term partnerships with major OLED players worldwide. Based on more than 440 patents granted or pending, Novaled has a strong IP position in OLED technology, and was named No. 1 on a list of coming world market leaders by the German newspapers Handelsblatt and Wirtschaftswoche. Main investors are eCAPITAL, Crédit Agricole Private Equity, TechnoStart, TechFund and CDC Innovation. www.novaled.com, anke.lemke@novaled.com
About Crédit Agricole Private Equity
Crédit Agricole Private Equity, an AMF-authorised investment management company and wholly-owned subsidiary of Crédit Agricole S.A., specializes in direct private equity investment in unlisted companies. A multi-specialist, Crédit Agricole Private Equity has 50 investment teams focusing on different segments of the private equity market (Expansion & Buyout capital, Venture Capital, Mezzanine, Renewable Energy, PPP Infrastructure, Co-Investment and Special Situations) and manages a total of € 2.8 billion in various types of private equity vehicle (FCPR, SICAR, FCPI and SCR). Crédit Agricole Private Equity supports entrepreneurs in their growth projects. The transaction has been lead by Michel de Lempdes, Director. www.ca-privateequity.com
About CDC Innovation
Founded in 1996, CDC Innovation is an international venture capital firm with its head office in Paris and a local presence in the Silicon Valley and in Switzerland. With over € 415 million currently under management, our focus is on venture investments at both the early and late stage, in two sectors: information technologies and life sciences. Our aim is to create value by providing talented entrepreneurs with the resources, experience, and network necessary to turn world-class technologies into great businesses. www.cdinnovation.com
About eCAPITAL
The eCAPITAL entrepreneurial Partners AG venture capital company is managed by entrepreneurs and is located in Muenster, Germany. Since 1999, the company supports business people in promising industries. The investment focus is on innovative, high-growth companies in information technology/communications, new materials, optical technologies and innovative services. eCAPITAL currently manages five funds totalling more than € 80 million. The funds invest in technology companies, as well as in small- and medium-sized companies throughout Germany. www.ecapital.de
About KfW
KfW mobilizes equity for young, innovative, technology-based firms with assistance from the German Federal Ministry for Economics and Technology (BMWi). and the ERP Start Fund. Together with private investors it offers equity finance to young technology firms. The participation by KfW and the equity investor are subject to the same economic conditions. www.kfw-mittelstandsbank.de
About TechnoStart
Since 1991 TechnoStart invests into start-up companies aiming at the commercialization of technology platforms, usually originated from academic research labs in physics, life science, and chemistry. TechnoStart is an independent venture capital organisation with financial institutions, corporates, and private individuals as investors into its funds.http://www.technostart.com
About TechFund Europe
TechFund focuses on the information and clean energy technology sectors where the hands-on experience can help create disruption leaders. In information technologies the focus is on networking & communications and digital media. In clean energy technologies, the company concentrates on distributed generation, energy efficiency, and renewable energy technologies as areas where a multi-discipline expertise is essential. TechFund has a long track record of investing in Europe and the U.S. The company’s management has a pan-European focus and co-manages parts of 123Venture FCPIs (Fonds Commun de Placement dans l’Innovation) and FIPs (Fonds d’Investissement de Proximité). www.TechFund.com www.123venture.com
About TUDAG
The TUDAG group of the Technical University of Dresden is a cluster of eight companies with the task to market the know how of the University. The main goal is to support the industry, especially mid size and small size companies in developing new technologies and innovative products. The combined turnover of the group in 2008 was close to € 30 million. Shareholder of the TUDAG is ‘Gesellschaft von Freunden und Foerderern der TU Dresden e.V.’ – a society of sponsors. This association financially supports research and science at the Technical University of Dresden. www.tu-dresden.de/die_tu_dresden/tudag
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: