OLEDWorks announced that it is launching a new $46 million project to double its production capacity at its Aachen OLED lighting fab, as the company sees increased demand for its OLED lighting systems in the automotive sector.
The project involves expanding and modernizing the existing OLEDWorks production infrastructure, the building and the production lines. The goals of these measures are to reduce production cycle times and increase operational efficiency. Once complete, OLEDWorks will have a capacity to produce around 40,000 sqm of OLED panels per year.
The project is scheduled to be concluded by January 2028.
OLEDWorks says that it received a 30 million Euro loan from the European Investment Bank, and an additional 4 million Euro grant from the Regional Economic Development Program of the State of North Rhine-Westphalia. These funds ($39.5 million) cover most of the investment for this project ($46 million).
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