FlexEnable receives 5 million euro equity investment from Novares, flexible OLCD will enter the automotive market
As a leader in the development and industrialization of flexible display and sensor plastic electronic products, FlexEnable recently announced that Novares, a global automotive plastic solutions provider, will invest a total of 5 million euros in FlexEnable. This strategic investment will help FlexEnable's engineering and manufacturing development, promote the use of flexible organic LCD (OLCD) in automotive interiors, and change the location and mode of use of on-board displays. Now, car designers can use bendable, rollable, glass-free OLCD technology to replace today's flat screens, which are more free in design and can better fit the shape of modern car interiors, while creating a 'smart surface.'
FlexEnable successfully implements high-performance flexible displays and sensors on plastic substrates through a patented organic thin film transistor (OTFT) platform, which can be applied to almost any surface. The core application of this disruptive technology is organic LCDs (OLCDs), which are not only lightweight, thin, and shatter-resistant, they can also be bent (up to 10mm), laminated and shaped. OLCD is the lowest-cost flexible display technology that can be manufactured on the existing flat panel display production line and follow the established supply chain. Through the use of qualified materials and processes, OLCD can be expanded to a large size, while having the characteristics of high brightness and long life, especially to meet the automotive industry's standards for service life and reliability.
Chuck Milligan, CEO of FlexEnable, said: 'We are very pleased to work closely with Novares and get its support. Novares is a pioneer in introducing smart surfaces into the automotive supply chain. By 2022, the automotive display market The value is expected to reach 22 billion U.S. dollars. This investment is a further recognition of FlexEnable's glass-free display technology and licensing business model. At present, OLCD is entering the mass production stage to meet the requirements for low-cost, high-reliability, conformable and The growing demand for plastic displays will keep up with the rapid development of automotive HMI (Human Machine Interface) requirements.'
'Novares has established a total amount for current or future partners and co-innovators. A 50 million euro venture capital fund to invest in the development of technological innovation initiatives in the next five years. The first equity investment was injected into FlexEnable. The investment will support Novares to launch an integrated HMI for clean, lightweight, and interconnected autonomous vehicles The new and user-friendly solution of the company brings a better experience for passengers.” said Pierre Boulet, CEO of Novares.
In March 2018, the mystery of NovaCar#1 concept car of Novares was unveiled, and its cab design adopted FlexEnable's flexible OLCD. This innovative product called FlexView uses augmented reality to improve safety and can be easily integrated with modern cabs.
In July 2017, after signing a technology transfer and licensing agreement with the Chinese manufacturer Truly Semiconductor Co., Ltd., FlexEnable officially started the industrialization process of OLCD. The large-scale production of OLCD is expected to begin before the end of 2018. The target markets include automobiles, consumer electronics, smart home appliances, and digital signage.