|By Marketwired .||
|January 20, 2014 05:30 AM EST||
SEOUL, SOUTH KOREA and MENLO PARK, CA -- (Marketwired) -- 01/20/14 -- Kateeva today announced an expansion of its Korea operation, marking a substantial investment in the world's leading display manufacturing region. The company will absorb the assets of Seoul-based OLED Plus Co. Ltd., (OLED Plus), an OLED equipment design, sales, service and support company headed by OLED industry veteran, KB (Kyung Bin) Bae. Kateeva has developed an inkjet printing manufacturing equipment solution for flexible and large-size OLEDs. Kateeva and OLED Plus first began collaborating in 2011 to advance Kateeva's customer and product positioning in Korea. Today's move builds on that effort by creating an "instant-on" local infrastructure to support Kateeva customers. Mr. Bae becomes General Manager of the combined entity known as Kateeva Korea, a wholly owned subsidiary of Kateeva, Inc.
The expansion marks a high point for Kateeva. Last November, the company introduced the YIELDjet platform, the world's first inkjet printer engineered from the ground up to mass produce flexible and large-size OLED panels. Interest in the technology is high, especially in Korea. Display manufacturers are attracted by the breakthrough design innovations that dramatically increase yield and lower production costs. Moreover, the timing for Kateeva's Korea expansion is ideal. With the market for rigid OLED devices now maturing, demand for flexible OLED products is on the rise. Enabling such ultra-light, paper-thin OLED displays -- at an economically viable cost -- is central to Kateeva's precision inkjet deposition solutions.
Kateeva CEO Alain Harrus, Ph.D., called the expansion a timely strategic move. "Korea is home to consumer electronics leaders known for consistently pushing technology boundaries to create dazzling products. Today, their most ambitious products are made possible by OLED technology. And companies like Kateeva are stepping up with production equipment innovations that are transforming the manufacturing economics. Thanks to Mr. Bae and his team, we have established a firm foothold in the region and forged strong relationships with key players. Now, with commercial shipments imminent, we've got the right-size support infrastructure. We're pleased to welcome our new colleagues into the Kateeva organization."
"Kateeva and OLED Plus make an excellent match," said Mr. Bae. "The YIELDjet technology is impressive, and the team is exceptional. More important, customers are excited about inkjet printing for OLED mass production. Long considered the ideal technique for OLED, there's keen interest in Kateeva's solution which is the industry's first production-worthy approach. We're happy to join the team that's bringing this game-changing production technology to Korea."
Co-founded by Mr. Bae in 2010, OLED Plus develops advanced OLED deposition/encapsulation equipment which is used by leading display manufacturers. Mr. Bae began his OLED career in 1998 when he founded ANS, Inc., also a developer of OLED deposition/encapsulation equipment. ANS introduced the industry's first Thin Film Encapsulation (TFE) tool. In 2009, SNU Precision acquired ANS. Mr. Bae then led SNU Precision's OLED products division. Before ANS, Mr. Bae worked with Varian Korea.
About Kateeva, Inc.
Kateeva is driving new advances in OLED production technology. The company has pioneered an inkjet printing manufacturing equipment solution that enables flexible and large-size OLEDs to be produced over large areas and in high volume -- with longer lifetimes, higher yields and lower production costs. It's the industry's first economically viable and production-worthy technique to use printing for low-cost mass-production of OLEDs. Kateeva is headquartered in Silicon Valley, maintains a wholly owned subsidiary in Korea, and is backed by leading Venture Capital firms and other investors. www.kateeva.com.
YIELDjet is trademarked by Kateeva.
Genuity PR for Kateeva, Inc
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