Financial

The German federal government and the Free State of Bavaria are looking into supporting ams-OSRAM in its aim to increase its optoelectronic components R&D investment at the company's Regensburg facilities. ams-OSRAM asked for subsidies of more than 300 million Euro, which will create 400 new high-tech jobs.

ams-OSRAM will use the funds to increase its R&D efforts, build new clean rooms, labs and pilot lines. The funds will include support for several projects, including UV-C LEDs for disinfection, NIR emitters for LiDAR applications, new components to support industry 4.0 applications - and microLED display technologies. The company has already started to build a 8” wafer pilot production line for microLEDs in Regensburg. 

Finland based Comptek Solution announced that it has successfully closed its its Series A funding
round, raising a total of 8 million Euro, from the Horizon Europe EIC Fund, LIFTT (Italian venture firm) and an undisclosed key strategic partner.

The funds will be used to accelerate Comptek's technology implementation, and scale up its growth. Comptek was founded in 2017, and develops passivation technology for Optoelectronics and power applications.

Veeco reports its financial results for Q2 2023, with revenues of $162 million (towards the high-end of its guidance) with a net income of $24 million.

Veeco says it remains committed to its microLED opportunities, as its long-term outlook on the microLED industry is positive. In the short term, however, it has sold some GaN-on-Silicon tools, but it has seen market pushing out about a year, and does not expect any significant orders until 2025.

China-based HC Semitek is embarking on a 5 billion Yuan project (almost $700 million USD) to produce microLED wafers in Jinwan District, Zhuhai, China. The project will have three phases, with the first one (estimated at $275 million) has officially started last month.

HC Semitek hopes to light up the new production line in September 2024, and to start production by December 2024. When all three phases are complete, the new production line will have a yearly capacity of 58,800 microLED wafers (we do not the wafer size at this project, but we estimate these are 8-inch wafers). It is not clear from the reports, but this production line may also produce mini LEDs, not just microLEDs.

UK-based Kubos Semiconductors announced that it has won a £700,000 (almost $900,000 USD) Future Economy Investor Partnerships (FEIP) grant from Innovate UK, the UK government’s innovation agency. Kubos also updates that it has been granted its first process technology patents and has received its first customer order.

This FEIP grant is for a 24-month project to achieve 5% efficiency for red microLEDs by deploying the company’s proprietary cubic Gallium Nitride (GaN) process, called KubosLED.

Meta announced that has entered into a research partnership with Ireland-based deep-tech research centre Tyndall National Institute. Tyndall launched a four-year project to help advance AR technologies.

Meta will invest €5 million in this project, which will focus on key AR technologies, including the investigation of the efficiency of microLED microdisplays based systems. The project will be led by Prof. Paul Hurley.

According to reports from China, MicroLED microdisplay developer Jade Bird Display has successfully raised its A4 strategic financing round. It is reported that together with the A3 round which closed last year, the company raised "hundreds of millions of Yuan" (which could mean anything from $30 million USD to $130 million). 

JBD's investors include Alibaba, Samsung, BYD and Geely. BYD is said to be working with JBD to develop MicroLED automotive applications.

MicroLED microdisplay developer Mojo Vision announced that it has raised $22.4 million in a Series A investment round, to further develop and commercialize its microLED display technology. 

MicroLED developer VueReal announced that it was awarded CAD$10.5 million (USD$7.7 million) in government support to scale up its micropixel fabrication and printing solutions. Vuereal will receive the funds from Sustainable Development Technology Canada (SDTC) and InvestOntario.

VueReal says that this funding will be part of a CAD$40 million production line facility project, that will employ 75 full permanent jobs in Waterloo, Canada.