Jul 21 2004
RPO Pty Ltd, an innovator in polymer optical materials and waveguides, announced today it has secured AUD2.5 million in a Series A round of financing.
This round of funding was well-supported and led by repeat investors GE Equity and Deutsche Bank (through Redfern Photonics Pty Ltd) and followed by new investors, the Allen & Buckeridge Emerging Technologies Fund (A&B) and the Canberra Business Development Fund.
RPO is developing polymer optical waveguides for a new type of optical touch-sensor for flat-panel displays.
The Series A financing will be used for capital equipment and operational expenses in establishing a new manufacturing plant and also support ongoing technology development efforts.
Stephen Ezekiel, Executive Director of GE Equity and a Director of RPO, said ‘RPO’s unique polymer technologies, combined with its device design and production capabilities, is creating disruptive breakthroughs in touch screens, consumer electronics, optical networking and optical integrated circuits. We believe RPO’s optical polymer waveguides will be key components in new generation consumer electronics products and that future applications for their technologies are abundant.’
David Landers, Executive Director of Allen & Buckeridge and a Director of RPO, said ‘RPO has a blocking intellectual property position with its technology and is, we believe, best placed to win in supplying mission critical componentry into the massive consumer electronics market for next generation touch screen devices.’
‘RPO is set to be the first company to manufacture planar optical waveguides in very high volume’ said Ian Ritchie, Chairman, RPO. ‘This is only possible because of our incredibly durable and stable polymer optical materials, together with our inherently low-cost, scaleable and robust manufacturing process. It is a credit to the team that we have been able to generate new market opportunities and secure new funding. This latest investment asserts our products, market strategy and strong intellectual property portfolio.’
For more information on waveguides, click here.