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Home > Press > Leading Advanced Materials Manufacturer Pixelligent Closes $10.4 Million in Funding: Capital Will Boost Capacity for North American Manufacturing, Drive Asian Expansion, and Continue Innovation in Solid State Lighting and OLED Display Applications

Abstract:
Pixelligent Technologies, the leader in high-index advanced materials for Solid State Lighting and Display applications and producer of PixClear® products, announced today that it closed $10.4 million in new funding. The round was led by The Abell Foundation, The Bunting Family Office, and David Testa, the former Chief Investment Officer of T. Rowe Price. Funds will be used to complete the installation of additional manufacturing capacity, open new offices in Asia, and continue to drive innovation in lighting, display and optical applications.

Leading Advanced Materials Manufacturer Pixelligent Closes $10.4 Million in Funding: Capital Will Boost Capacity for North American Manufacturing, Drive Asian Expansion, and Continue Innovation in Solid State Lighting and OLED Display Applications

Baltimore, MD | Posted on August 16th, 2016

To date Pixelligent has raised over $36.0M in equity funding and has been awarded more than $12M in U.S. government grant programs to support the development of its proprietary PixClear® products and PixClearProcess™. The Pixelligent nanotechnology platform includes proprietary nanocrystal synthesis, capping technology, high volume manufacturing and application engineering that supports ink jet, slot die, UV curing, spray coating, and numerous other manufacturing processes.

"We have clearly established Pixelligent as the leading high-index materials manufacturer for demanding solid state lighting and OLED display applications throughout the world. Pixelligent is partnering with leading advanced materials suppliers to deliver breakthrough performance that currently spans applications in 12 discrete markets including: lighting, displays, printed and flexible electronics, AR/VR, optically clear adhesives, MEMS, gradient index lenses, and others with a combined total over $9B in market opportunities. We have numerous commercial applications currently in the market and expect additional product introductions before the end of 2016," said Craig Bandes, President & CEO of Pixelligent Technologies.

"We started our partnership with Pixelligent in 2011 when the company relocated to Baltimore City and have seen the company achieve all of their critical technology and manufacturing milestones, while establishing a global brand and presence. Our investment objective is to support leading edge companies that deliver breakthrough technology and products and create jobs in our local community. Pixelligent is at the forefront in delivering on the promise of the nanotechnology revolution. We are proud of what the team at Pixelligent has accomplished to date and we look forward to their continued growth and success," said Eileen O'Rourke, CFO of The Abell Foundation.

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About Pixelligent Technologies, LLC
To date Pixelligent has raised over $36.0M in equity funding and has been awarded more than $12M in U.S. government grant programs to support the development of its proprietary PixClear® products and PixClearProcess™. The Pixelligent nanotechnology platform includes proprietary nanocrystal synthesis, capping technology, high volume manufacturing and application engineering that supports ink jet, slot die, UV curing, spray coating, and numerous other manufacturing processes.
"We have clearly established Pixelligent as the leading high-index materials manufacturer for demanding solid state lighting and OLED display applications throughout the world. Pixelligent is partnering with leading advanced materials suppliers to deliver breakthrough performance that currently spans applications in 12 discrete markets including: lighting, displays, printed and flexible electronics, AR/VR, optically clear adhesives, MEMS, gradient index lenses, and others with a combined total over $9B in market opportunities. We have numerous commercial applications currently in the market and expect additional product introductions before the end of 2016," said Craig Bandes, President & CEO of Pixelligent Technologies.
"We started our partnership with Pixelligent in 2011 when the company relocated to Baltimore City and have seen the company achieve all of their critical technology and manufacturing milestones, while establishing a global brand and presence. Our investment objective is to support leading edge companies that deliver breakthrough technology and products and create jobs in our local community. Pixelligent is at the forefront in delivering on the promise of the nanotechnology revolution. We are proud of what the team at Pixelligent has accomplished to date and we look forward to their continued growth and success," said Eileen O'Rourke, CFO of The Abell Foundation.

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