Research by NanoMarkets suggest that the total market for OLED materials will grow from a value of about $450 million in 2013 to well over $4.6 billion by the end of 2020. The growth will be driven by OLED-based screens for mobile devices and TVs. While the growth potential is significant there is a current problem related to the high cost of OLED active materials such as energy-efficient light emitters.
Based on many years’ research at Moscow State University the EvOLED team has developed a unique doping method and material that utilizes low-cost compounds, but achieves high luminescence and high stability in a variety of operating environments. So the material can be energy efficient as the emissive layer in OLED displays and can significantly reduce the manufacturing costs of large and small screens. The Imprimatur Seed Fund’s new investment will be used primarily for developing a working prototype according to specifications provided by a number of display manufacturers interested in the OLED technology.
Toby Moore, Managing Partner of Imprimatur Capital Fund Management in Latvia stated, “We are impressed by EvOLED’s technical achievements at this early stage and we look forward to working with them during the coming commercialisation phase as they enter a global market driven by strong growth in mobile devices and other display screens.”
Fedor Eremin, Founder of EvoLED said “EvOLED has been growing rapidly throughout the last year, having attracted a cumulative of 200,000 EUR of investments. We believe that this result was made possible by combing the academic excellence of our scientists and efforts of people standing behind EvOLEDs introduction to the market. Additionally working with Imprimatur Capital most certainly means having a trusted partner with extensive “smart money” allocation experience and ability to effectively advise the project throughout the process of its growth. We are looking forward to this cooperation.”