1. Refined Go-to-Market (GTM) Strategy:
1.1 Strategic Shift:
Initially, we targeted the OLED market. However, limited market access due to the dominance of two major players necessitated a strategic shift. We are now focusing on the microLED market, which offers broader industry engagement, a stronger need for our QD solutions, and a developing ecosystem ripe for new materials and partnerships. Key drivers include Taiwan's national strategic investment in microLED, an increased potential customer base reducing reliance on a few dominant players, and a strong market pull driven by the need for innovative QD solutions.
1.2 Market Access & Commercial Progress:
We have established strong relationships within the microLED ecosystem, collaborating with key players across the value chain. We are leveraging Taiwan's national focus on microLED to drive adoption. Our technology supports diverse display applications, including smartwatches and large information panels. We are actively sampling our inks with key industry players, including Innolux, AUO, Coretronic, Playnitride, BOE, and Aledia. We have entered product qualification with at least one major customer.
1.3 Business Model Stages:
QD integration customization and product qualification with customers are ongoing. Demo-scale in-house production of QD inks for device prototyping is planned for 2025-2026. Pilot to volume production with production partners for volume sales is scheduled for 2026 and beyond.
2. Refined QD Product and Technology Offering:
We are focusing on sourcing best-in-class QDs with excellent optical properties and scalability. Our expertise lies in ligand exchange, making QDs compatible with inks for demanding integration. We formulate inks tailored to key customer specifications. We offer ligand-exchanged QDs for integration into other resins, such as photoresists. We are developing a range of ink formulations for various applications.
3. QD Product Roadmap Aligned with the Industry:
Gen0 sampling kits, consisting of 5-20 mL batches with minimal specifications to generate interest and intended for evaluation on R&D printers with efficiency below 35%, are currently being sampled. Gen1 demo kits, consisting of 20-80 mL batches with specifications and volume for demo manufacturing and efficiency above 35%, are in preparation for launch. Gen2 inks for pilot production, consisting of batches greater than 150 mL with specifications and volume for pilot production, representing a real commercial product with efficiency above 40%, are in development.
Current Status:
We are currently sampling Gen0 inks and preparing to launch Gen1. Significant progress is being made with key customers, notably Innolux, followed by AUO, Coretronic, Playnitride, BOE, Aledia, and others. We have also presented our results and roadmap at a number of industrial conferences in 2024, including SID Display Week 2024 (Exhibition Forum, San Jose, USA), Eurodisplay 2024 (Grenoble, FR), MicroLED-Connect (Eindhoven, NL), QD Industry Forum 2024 (Palm Springs, USA), and IDW 2024 (Sapporo, JP).
