Novaled Converts Into Stock Corporation.Dresden, Germany -- Novaled has been converted into a stock corporation (German AG) to comply with international standards providing high transparency for its stakeholder. Novaled, a leading developer of organic light emitting diode See LED. (OLED (Organic Light Emitting Device, Organic Light Emitting Diode) A thin film light-emitting technology that is expected to compete with LCD and plasma TVs as well as LCD monitors and readouts. ) technologies and materials for flat panel displays, lighting, and other opto-electronic applications, today announced a change of its legal form. The Company converted its legal structure from a GmbH (Limited Liability Corporation) into Novaled AG (German Stock Corporation). Novaled AG is registered at local court in Dresden (Germany) under the reference HRB 24467. The Company is a privately held stock corporation owned by its founders and by international venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] . "As a Stock Corporation, now we can better comply with international standards providing higher visibility to a broader financial community and to our international trading partners. The conversion is a further step in the business development of Novaled as world leader in OLED power efficiency" says Gildas Sorin, Novaled CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . The change of the legal structure of the Company finalizes the 2nd round of financing which was closed at the End 2005 with EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 15 Million. "Novaled will launch an Employee Stock Option Program to let its personal participate from the company's successful development and to attract best qualified and senior staff" adds Dirk Schwipper, Novaled General Secretary. About Novaled Novaled AG is engaged in the research, development and commercialization of organic light-emitting diode Noun 1. organic light-emitting diode - a self-luminous diode (it glows when an electrical field is applied to the electrodes) that does not require backlighting or diffusers OLED (OLED) technologies and proprietary materials. The Company is a spin-off of the Dresden University and the Fraunhofer-Gesellschaft. Main investors are Credit Agricole Private Equity, TechnoStart, TechFund Capital Europe and CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation Entreprises Innovation. Founded in 2001, Novaled experienced a rapid growth maturing into a world-class company. Novaled commercializes its Novaled PIN OLED(TM) technology along with its proprietary OLED materials to display makers and lighting companies. The company has a strong IP position in OLED technology based on more than 160 patents granted or pending. |
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