XTPL to provide technology to a partner from South Korea for use by a leading display manufacturer

XTPL S.A., a global supplier of breakthrough nanoprinting solutions for the world’s electronics market, has been selected by HB Technology from South Korea to progress to the next stage of work on the use of the Company’s technology at the end client: a leading global manufacturer of FPDs (Flat Panel Displays). The XTPL technology can be used in the fabrication of new generation ultra-high resolution displays, including the repair of advanced micro OLED displays. As part of the just-commenced next stage of the project aimed at the industrial implementation of XTPL’s technology in the display sector, during the first six months of 2023 the Company will deliver its device for technology validation at the R&D level to HB Technology in order to accelerate the process of analyzing and adapting the XTPL solution to the end client’s needs. At the same time, preliminary talks have started to build a prototype industrial device.

This is the first time that XTPL has progressed to such an advanced stage of work on the industrial implementation of its technology in the display industry. At present, the Company is doing nine projects geared towards industrial implementation of its technology. Three of those are at an advanced stage, covering all three sectors strategic for XTPL: advanced PCBs, semiconductors and displays.

“Once again, the XTPL technology was positively assessed and successfully passed the evaluation process – which this time took two years to complete – providing the best results where other solutions failed. The area of potential application of our technology is part of the high-resolution display industry, which is developing at a rapid pace, attracting great interest from the world’s largest manufacturers. Early in January, we started cooperation in PCBs with Nano Dimension and in August this year we strengthened our relationship with a partner from Taiwan in the semiconductor industry. In this way, we are developing advanced projects covering all our three strategic directions. This proves that XTPL’s ultra-precise deposition technology has an extensive range of applications, as well as gives us another reference to use in business talks. I’m happy and honored that HB Technology has decided to choose our solutionsays Filip Granek, CEO of XTPL.

HB Technology, listed on KOSDAQ (078150.KQ) in South Korea, is a manufacturer of equipment for testing and repairing devices for the most advanced display makers. HB Technology’s clients are the world’s leading manufacturers, including: Samsung Display Corporation and Beijing BOE Display Technology. The XTPL solution can be used to repair advanced micro OLED displays, characterized by ultra-high resolution and located close to the human eye. These products are used, e.g. in specialized medical and military equipment, as well as professional cameras, sky observation devices and smart glasses. In 2021, the value of the OLED display industry was estimated at USD 38.4 billion and is expected to grow at the average annual rate of 13.6% in 2021–2026.

Our relationship with the XTPL team has successfully continued for 24 months now. In that time, we have deeply evaluated different printing technologies available worldwide for some of the most challenging use-cases in ultra-high resolution next generation displays. In our collaboration, the XTPL team demonstrated that their technology has a unique technological solution and a very good potential to enable manufacturing of the next generation flat panel displays” says Do Soon Jung, Vice President HB Technology. “Putting the XTPL device to use for validation of the XTPL technology at the R&D level will help us to strengthen the collaboration and accelerate the joint introduction of XTPL technological solutions to our end customers, who are the leading global manufacturers of FPDs. We are looking forward to growing our relationship and collaboration with the XTPL team for the futureDo Soon Jung adds.

The purchase of the XTPL solution by HB Technology was preceded by a two-year evaluation process, in which the end client, a leading global manufacturer of FPDs, was also involved. XTPL is to deliver the device for technology validation at the R&D level in the first half of 2023. The first revenues on this account will be recognized following final acceptance of the device by HB Technology. After the positive verification of the technology and its adaptation to the end client’s needs, XTPL will proceed to the construction of a prototype industrial device. Preliminary talks in this regard have already started. The transition to the next stage of evaluation with the Company’s partner HB Technology is in line with XTPL’s strategic goal, which is to implement the Company’s technology on an industrial scale on the production lines of global manufacturers of next generation electronics.

XTPL’s business model is based on three complementary business lines with high potential to generate revenue streams. These are printing modules intended for industrial implementation on the production lines of global manufacturers of electronics, the Delta Printing System prototyping devices, and conductive nanoinks.

Building XTPL’s value and technological solutions is also supported by its policy of industrial and intellectual property protection. Ever since its establishment, XTPL has been consciously creating its patent cloud. Currently, the Company already has 4 patents granted and 23 application processes pending.

In 2020, the value of the printed electronics market was USD 41.2 billion (+11.0% YoY), while in 2025 it is forecast to grow to USD 63.3 billion (source: IDTechEx). This means an increase in the market value at a CAGR of 9.0% in 2020–2025.

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