PR94617

CAMBRIDGE, England, Feb. 22, 2022 /PRNewswire-=KYODO JBN/ --

FlexEnable [ https://www.flexenable.com/ ], the leader in the development and

industrialization of flexible organic electronics, has raised $11M Series B

financing. Coretronic [ https://www.coretronic.com/en ], a major Taiwanese LCD

backlight module manufacturer, has made a strategic investment alongside

significant European family offices. The initial $11M investment includes

options for a further $14m and is expected to finance FlexEnable through to

mass production ramp up of flexible displays and liquid crystal optical modules

at Asian display manufacturing partners. The funds will also be used to scale

up the company's organic materials production capacity to meet the growing

needs of display manufacturing partners entering volume production.

FlexEnable's award-winning organic electronics platform [

https://www.flexenable.com/technology/otft-technology-platform/ ] comprises a

complete set of manufacturing processes and FlexiOM™ organic semiconductor

materials that, together, unlock the manufacture of glass-free, flexible

organic LCD displays (OLCD) and liquid crystal optical films (LC Optics) in

existing display fabs. This breakthrough allows almost any surface to display

information or steer, modulate and focus light. Ultra-thin, light, flexible and

even 3D conformable, OLCD and LC Optics have a US$100Bn addressable market that

includes notebooks and tablets, smart home devices, AR/VR headsets, automotive,

monitors and TVs.

Chuck Milligan, CEO of FlexEnable, said: "Having industry heavyweight

Coretronic on board as an investor and partner is further validation of both

FlexEnable's business model and our technology leadership in the materials and

processes which enable volume production of unique flexible optical modules and

displays. As a principal player in the LCD supply chain, Coretronic's deep

industry expertise will be a great benefit to us as we now move from production

setup to mass production. We are very excited to have strong new investors on

board, and very grateful for the on-going support from Rusnano and Novares, who

have been instrumental in enabling us to develop our technology and great

commercial projects over the past years."

FlexEnable's business model uses existing and underutilized display production

capacity to manufacture flexible displays and LC optics using its FlexiOM™

organic semiconductor materials and manufacturing process IP, via technology

transfer, licensing and contract manufacturing arrangements with Asian

flat-panel display (FPD) production lines. The company already has four active

technology transfer programs underway with several leading display

manufacturers in Asia, with first volume production ramp starting in second

half of 2022.

"Our consumer electronics partners and customers continue to demand increased

functionality in their products coupled with improved form factors. The

FlexEnable technology can enable new functionalities in lighter, thinner and

even curved devices, and we look forward to working with the FlexEnable team to

bring these new products into volume production," commented Sarah Lin,

President of Coretronic.

"The next 12 months are very exciting with the first of a series of

manufacturing partnerships entering volume production, bringing recurring

revenues and rapid revenue scale-up. In addition to manufacturing partnerships,

we have significant commercial programs with several of the world's biggest

OEM/brands in consumer electronics, where our technology is needed to bring

game-changing functionality to the surfaces of future products," added Milligan.

About FlexEnable

With around 700 patents and more than 1000 engineering years in the development

of organic materials and manufacturing processes, FlexEnable is the worldwide

leader in organic electronics. We have developed and industrialized a complete

low-temperature manufacturing process for small and large-area organic

electronics on ultra-thin plastic substrates. FlexEnable also owns the

best-in-class, highest-performance organic materials - FlexiOM™ - making us the

only company to offer both organic materials and industrially-proven enabling

manufacturing processes. FlexEnable is bringing organic electronics technology

to market in a fabless business model. Our processes and solutions have been

developed for use on existing flat panel display lines, leveraging existing

assets and supply chain. Applications for FlexEnable's technology include

flexible displays and flexible active optical films for consumer electronics,

AR/VR and automotive applications. FlexEnable supplies FlexiOM™ materials and

transfers and licenses its unique technology platform to display manufacturers.

We also work directly with OEM and Tier 1 companies on developing next

generation products, from design to prototyping and product qualification all

the way to volume production.

For more information please visit www.flexenable.com or contact

info@flexenable.com.

SOURCE: FlexEnable