Harry Böhme tells the cleantech exit story of Novaled to Samsung
Ecosummit TV: CFO Harry Böhme tells the cleantech exit story of Novaled to Samsung at ECO13 London. Founded in 2001, the Dresden-based startup is a world leader in OLED (Organic LED) materials and Samsung is the biggest customer. In September 2011, Corporate VC Samsung Ventures invested and Novaled’s management made sure to limit Samsung’s stake and control to 10%. 2 years later, Samsung Cheil Industries (aka Samsung Chemical) and Samsung Electronics acquired the remaining 90% for €260M, including an earnout of €30M bound to reaching further milestones. Novaled’s revenues grew from €10M in 2010 to €26M in 2012 (price sales ratio of 10). With €29M of venture capital injected in Novaled the returns are pretty healthy.
The ECO13 London presentation slides of Harry are available as PDF.
Tags: Cleantech Corporate, Cleantech Exit, Cleantech Startup, Corporate VC, Dresden, eCapital, ECO13 London, Ecosummit London 2013, Ecosummit TV, Harry Boehme, Novaled, OLED, Organic LED, Samsung, Samsung Cheil Industries, Samsung Ventures, Trade Sale