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Posted: April 17, 2008
Novaled AG is Awarded Red Herring Europe 100 Winner 2008 and Announces Financial Results for 2007
(Nanowerk News) Novaled, a major know how and service provider for highly efficient long lifetime OLEDs, announces today that the company is winner of Red Herring 100 Europe 2008, an award given to the top 100 private technology companies each year. At the same time Novaled releases the last year’s results proving the enterprises rapid growth.
Red Herring’s lists of top private companies are an important part of the publication’s tradition of identifying new and innovative technology companies and entrepreneurs. Novaled has been awarded for its rapid growth and its determining contribution to the organic electronic. Novaled supports Europe’s increasing role as a major center of innovation in the global technology sector.
Novaled reached 8.6 Mio. USD* revenue in 2007 showing an impressive growth rate of 67% versus the previous year mainly achieved through material sales and contracted research. With costs of 12.5 Mio. USD the according EBT of 2007 was -3.6 Mio USD.
“2007 results showed remarkable growth compared to the global OLED-players”, said Harry Boehme, CFO of Novaled. “The Red Herring Award demonstrates that Novaled is rightly counted among the leading technology companies”.
* value €/$ on 31 Dec 07
OLEDs (organic light-emitting diode) are semiconductors made of thin 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.
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 380 patents granted or pending, Novaled has a strong IP position in OLED technology.
Main investors are Crédit Agricole Private Equity, TechnoStart, TechFund Capital Europe and CDC Innovation. For more details please visit www.novaled.com