July 10, 2009
SHANGHAI VENTURES INVESTS $2.1 MILLION IN ADVANTECH GLOBAL LIMITED
Shanghai Ventures has signed a commitment to invest $2.1 million in Series B and Series C stock offerings issued by Advantech Global Limited. The capital, which is part of a $15 million total offering, will be used to build a pilot production line that will dramatically reduce the cost of manufacturing OLED television displays and Electronic Shelf Labels backplanes. This will be the only production line of its kind in the world.
“We believe Advantech’s next generation technology will revolutionize the TV industry in the same way that its founder’s, Dr. T Peter Brody, invention of AM-LCD did in the 1990’s,” said David Spivey, President of Shanghai Ventures. “By enabling AM-OLED TV’s to be produced for similar or lower costs as LCD TV’s, we fully expect Advantech to be the worldwide leader in OLED TV backplane manufacturing, and we are privileged to be a part of this enormously exciting opportunity.”
Advantech has received $12 million in funding by the Pan family since 2004. The Pan family is investing an additional $12 million in these offerings. Advantech was funded by Compaq Corporation prior to 2004.
About Advantech Global Limited
Advantech is a development stage company founded by Dr. T. Peter Brody, the inventor of active-matrix LCD technology. Advantech has created a roll-to-roll fabrication technology for producing thin film electronic circuits at exceptionally low cost using Dr. Brody’s latest technologies. The company intends to exploit this technology to manufacture active matrix backplanes for OEM sale and licensing in the developing organic light emitting diode (OLED) display industry.
Advantech is a BVI company with offices in Pittsburgh and strategic partners in the US and China.
www.advantechus.com
About the Pan Family
The Pan family owns and operates businesses in coal distribution, display manufacturing, golf courses, communication electronics, auto dealerships, and real estate. A prior investment of particular note is TPV Technology Ltd., a computer and TV display company in China in which the Pan family invested in 1992. Advantech’s executive director Jong-Guang Pan led TPV to become a publicly traded company on the Hong Kong and Singapore exchanges in 1999. By 2004, TPV became the largest computer monitor manufacturer in the world after its acquisition of Phillips TV. Orient Golf, which is also led by Jong-Guang, is the largest golf course chain developer in mainland China.
About Shanghai Ventures
Shanghai Ventures is a privately funded, diversified investment company with offices in New Haven, CT and Shanghai, China. Its investments interests in China include real estate, high tech, renewable energy, and beverages.
www.shanghaiventures.net |
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