CDT set to receive a #10m boost

Electronics Times, May 15, 2000

Light-emitting polymer display group Cambridge Display Technology (CDT) is about to receive a further #10m investment for expansion and collaborative work with partners.

Restructuring plans have been finalised and the investment will enable the company to further expand its R&D and pilot manufacturing operations. The investment is led by US venture capital group Kelso, which took a large stake in CDT last year.

Chris Smart, acting CEO, said: "As well as our ongoing agreement with Seiko Epson, we are in discussions with many other companies about collaborative work. We are going through a distinct growth phase and are recruiting at every level. The company has grown from a team of 20 to 70 exceptionally quickly. As well as a CEO, I expect that we will need another 30 people within the year."

* Organic LED material developer Covion has linked with microdisplay manufacturer eMagin to develop OLED materials for the New York-based company's microdisplay virtual imaging applications.

Susan Jones, vice-president at eMagin, said: "Many future OLED applications could result from this collaboration enabled by Covion's temperature-stable materials."