NextGen Nano acquires further voting stock in New Fusion
London based NextGen Nano has acquired a further 30% of common voting stock in US based New Fusion. The acquisition follows an innovation by New Fusion in organic light-emitting diode (OLED) display technology, which will extend the lifespan and quality of displays — and growth in the OLED display market, which is projected to experience a CAGR of 23.2% between 2021 to 2026.
“This acquisition solidifies our ongoing commitment to expand our assets in this sector, and we are incredibly proud of the progress made by our New Fusion division, research and development teams,” said Matthew Stone, Chairman of NextGen Nano. “We believe this breakthrough is a win-win for users and for the environment, delivering better quality OLED displays with better energy efficiency.
“We expect to see improved OLED technology in many of the devices we use in our homes and cars in the coming years, so making these devices more sustainable in their construction, cheaper, longer lasting and better quality is vital. This acquisition is a significant strategic advancement and will be the first of several diversification plays for the group planned for the near term.”
“New Fusion is perfectly placed to take a significant market share of existing technology apparatus and will continue to expand its extensive bank of intellectual property for further OLED applications. This is the perfect moment for NextGen Nano to expand its holdings and reaffirm its commitment to the next wave of invention.
“This breakthrough is proving to be one of the most disruptive OLED display innovations in recent years, so securing additional stock holding for the team and shareholders will also help introduce this technology into multiple devices found in homes and vehicles.”