SMBC backs Kyulux with fund investment and loan commitment
The OLED materials developer will use the financing to advance development, manufacturing and commercialisation.
SMBCCP Investment Limited Partnership 1 has invested in Kyulux, while Sumitomo Mitsui Banking has approved startup lending to the company. The joint announcement did not disclose the investment or loan amounts. The fund investment has been executed; the bank describes the loan as a financing decision.
Kyulux develops rare-metal-free emitting materials for OLED displays using TADF and Hyperfluorescence technology. It plans to hire research, manufacturing and business-development staff, invest in equipment, and develop mass-production processes and quality-control systems. It is supplying samples to major display manufacturers for joint evaluation.
Use of funds
R&D and manufacturing hiring
Development manufacturing and analysis equipment
Mass production and quality systems