11th January 2018 – Signing ceremony between Mr. Malcolm Stewart (CEO of NeuDrive Limited) and Mr. Weiguo Wang (Founder and Chairman of Cocoon).
To accelerate the industrialisation of OTFT technology in China and its application to flexible displays, sensors and IoT markets, NeuDrive and Cocoon have founded Xinqu Chuangrou Photoelectric Technology Limited in Hubei Province.
NeuDrive will provide intangible assets including patents and know-how with Cocoon providing the financial investment to the company. In addition, with the strong support of Secretary Mr. Xiaoqiang Ding and Mayor Mr. Yuanhe Wang, a significant package of financial assistance has been committed to the project by Xianning City Government and Xinqu Chuangrou’s first OTFT pilot line will be built in Xianning Hi-tech Industrial Park.
With its HQ in Wuhan and manufacturing facilities in Xianning, Hubei Province, the project has received support from the Hubei Provincial Government, Wuhan City Government and Wuhan Industrial Institute for Optoelectronics.
Mr Weiguo Wang, founder and Chairman of Cocoon group has been appointed as Chairman of Xinqu Chuangrou. Dr Linrun Feng, VP of Technology Transfer in Asia for NeuDrive Limited has been appointed as General Manager.
Mr Weiguo Wang said, “I believe that this project will become a model for cooperation between China and the UK, taking advanced technology that has been initially developed in the UK forward for industrialisation in the Chinese market. Cocoon will do everything we can to make sure this project is a success in China.”
Dr. Ray Fisher, NeuDrive’s founder said, “We are delighted to work together with Cocoon to bring our OTFT technology to its next stage – the industrialisation of OTFT technology in China. I strongly believe that this will bring huge success to everyone involved.”
NeuDrive Limited. (www.neudrive.com) is a world leader in OTFT technology, with offices and laboratories in Alderley Park, Cheshire and at the National Centre for Printable Electronics, Co. Durham.
Cocoon Corporation (www.cocoon-china.cn): Cocoon is a global venture capital and technology incubator organisation. Founded by entrepreneur, Mr Weiguo Wang, and the chairman of China Equity Group, Mr. Chaoyong Wang, Cocoon has its HQ in Wuhan and offices in Bejing, Shenzhen and Shanghai. Internationally, Cocoon has established Cocoon Networks, (www.cocoon-networks.com), the largest single-unit incubator in the UK, as a technology bridge between the UK and China.