11 September 2006

September 11, 2006

Liquavista Accelerates as Investment Enables Rapid Expansion

Company establishes UK office; secures three critical new hires and invests 2 million euros in a manufacturing development line

Cambridge, UK, September 11th 2006 - Liquavista, the company pioneering mobile multi-media displays, today announced that it has completed several key milestones in its rapid growth & investment plan.  Following its successful spin out from Philips Research in April this year and the launch of its first prototype displays at SID 2006 in San Francisco, Liquavista has continued to build awareness in the industry and is already in discussion with potential partners and prospects keen to find out more about the new display technology that the company is introducing to the market.

“I don’t believe in hanging around” said Mark Gostick, CEO at Liquavista.  ”Having successfully launched the first series of prototype displays – ColorMatch & ColorBright - in June, the Liquavista team is now working hard to install a process development line.  The number of employees in the company has also grown significantly and we have made three critical hires across the UK & the Netherlands.”

Liquavista’s technology has been designed to dramatically change the way in which users interact with mobile devices.  Set to revolutionise the display industry, the company expects its offering to exceed the standards set by the highest quality screen technology currently available – LCD - and is excited about the market opportunities that lie ahead.

“The company is really beginning to pick up speed and the global display industry is watching our progress closely” added Gostick.  “Continued success depends upon having a great team in place and building the best network of best partners world-wide.  Liquavista’s recent appointments, and the start of its strategy to having a presence in all centres of display excellence worldwide, marks the beginning of a rapid growth phase and the delivery on the promise we made at SID in June to be ‘a company to watch’ in 2007.”

Key hires

Martin Stephenson joins Liquavista as CFO whilst Harrie Hermens and Eric Derckx both veterans in the display industry, take leadership positions in the engineering team.

Based in the UK, at Liquavista’s newly appointed HQ in Cambourne, Cambridge, Stephenson brings a strong finance and operations background to the company, along with a wealth of experience in company acquisitions and growth finance. 

“Liquavista’s decision to have a permanent site in the UK is its first step in building a global business.  It is the company’s intention to have a presence in the significant centres of display excellence in the world,” said Stephenson.   “It was the organisations vision for the future that really excited me and I’m delighted to be joining the team at such a key time.”

Hermens brings 20 years experience in process development and transfer to mass production in many kinds of diverse display technologies, including a successful deployment of innovative LCD technology manufacture in South China.  He will oversee the investment of 2 million euros in Liquavista’s manufacturing process development line.

“This investment will bring Liquavista closer to the full-scale manufacture of its first range of screens” said Hermens. “It will also enable the company to prove the compatibility of its display manufacturing with the manufacturing process of existing LCD’s and allow it to further prove the lifetime and reliability of the technology.”

Derckx, appointed as Director, Development Engineering, will lead the development of system aspects for Liquavista’s products including modularisation, optics, mechanics, electronics, (including drive schemes / driver ICs) as well as overseeing the ongoing development of the product range where he will help the company to deliver world-leading mobile multi-media displays.

For further information, please refer to www.liquavista.com

Background on Liquavista BV

Liquavista was founded in 2006 by a team which originates from the world famous Philip Research Labs in Eindhoven.  The company is backed by Philips and New Venture Partners who have recruited an experienced CEO, Mark Gostick to lead the company.

Based on technology invented by Rob Hayes & Johan Feenstra, in 2002, Liquavista uses advances in materials and technology to create Electrowetting displays that offer significant advantages over existing and emerging display technologies. 

Producing bright, colorful images, which show video content at very low power, Liquavista’s products offer excellent indoor and outdoor viewability and are ideally suited for a wide variety of portable and mobile applications such as MP3 players, watches, cameras, phones, DVD players and automotive applications.   Liquavista’s early applications, which enable bright vibrant colors in simple displays, are expected to enter the market early next year.

MEDIA: For further information please contact:
Clare Shephard, Maillot Jaune communications
m: + 44 (0) 7736 793332
e: clare.shephard@maillot-jaune.co.uk