Simowei OLED packaging material project lands in Xi'an

Recently, Xi'an Simowei New Materials Co., Ltd. (hereinafter referred to as Simowei) signed a cooperation agreement with Fengxi New City. Its new material research and development and pilot production base project has officially been launched. After reaching production, the annual output value is expected to be approximately 330 million yuan.

The project has a total investment of 150 million yuan, covering an area of ​​about 24 acres and a total construction area of ​​about 24,000 square meters. It plans to build a research and development and pilot production base for a new generation of OLED high-barrier packaging glue materials. Products include low-dielectric film encapsulation ink, high-folding film encapsulation ink, high-leveling film encapsulation ink, etc. They are special materials used in the film encapsulation process and can improve the durability of OLED displays.

Information shows that Simowei was founded in 2017. It is a developer of flexible OLED materials and packaging materials. It integrates R&D, production, sales and service. It has a variety of products such as sealing materials, PI, optical glue and adhesive glue. Its core product, TFE INK film packaging material, is used for OLED screen packaging and has been mass-produced and introduced to panel companies such as BOE, TCL CSOT, Visionox, and Tianma.

Image source: Simoway

Tianyancha shows that Simowei also received 50 million yuan in Series C financing in April this year, with investors including Zhishou Capital, Qingkong Capital, TCL Venture Capital, and Chuxin Capital. In addition, in the previous A and B rounds of financing, Reliance New Materials and TCL Venture Capital were among the investors. (Compiled by TrendForce Display)

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