Beijing Xiahe Technology, also known as Summer Sprout, recently broke ground on its new industrial facility for OLED materials. Present at the groundbreaking ceremony, located in Taixing Economic Development Zone, Jiangsu, were key dignitaries including Li Yadong, the academician of the Chinese Academy of Sciences behind the design of the project, and Liu Hui, member of the Standing Committee of the Municipal Party Committee. As part of the presentation, the emphasis was placed on the project aims to disrupt the monopoly of foreign technology and advance the localization of OLED materials.
Established in 2017, Xiahe Technology specializes in the development and manufacture of OLED materials. These include transport, injection, and light-emitting layer materials for vapor deposition and solution coating techniques. The company is also geared up to provide other OLED optimization and development services.
The new manufacturing facility has been funded to the tune of 1.05 billion yuan ($210 million). Back in January, 2023, Xiahe secured 300 million yuan ($42 million) in a Series D round, and it counts TCL’s venture fund as one of its investors. This is all part of strategic initiatives taking place in the Chinese display industry as a combination of private and pubic enterprises work towards vertical integration of upstream and downstream suppliers and manufacturers in the industry.
The ambitious plan is for Xiahe to capture one-third of the global market for OLED materials. To date, the company claims to have registered 590 patents to cement its bona fides in pursuing its goal of, in essence, becoming the world’s largest supplier of new OLED materials. As such, the annual production capacity of the new facility is expected to reach 20 tons.
