Trinity Capital Inc. provides – GuruFocus.com
PHOENIX, May 10, 2022 /PRNewswire/ — Trinity Capital Inc. (Nasdaq: TRIN) (“Trinity” or the “Company”), a leading provider of debt financing and equipment to capital-backed, growth-stage companies -risk, announced today the closing of a $30 million line of equipment financing for Aledia, an LED technology company that develops and manufactures next-generation microLED displays.
Created in 2011 and based in Grenoble, France, Aledia is a growing company developing 3D micro-light-emitting diode (microLED) chips used in displays, based on a unique 3D architecture using gallium nitride-on-silicon microwires. Aledia’s ambition is to be a major player in the global microLED display market, bringing advanced microelectronic manufacturing technology to the world of displays, including products such as smartphones, tablets, VR systems/ AR, smartwatches, laptops and wearables.
“We are thrilled to partner with Aledia on their journey to revolutionize the display market,” said Ryan Small, managing director of equipment finance at Trinity. “Their entrepreneurial spirit is just as impressive as their technology, and we couldn’t be happier to support the team as they continue to build and grow the business.”
The Aledia team plans to use these recipes to further establish its in-house manufacturing for nanowire growth and accelerate platforms and product development.
“At Aledia, we are committed to creating fundamental proprietary technology for the future of next-generation displays,” said Giorgio Anania, CEO of Aledia. “We are at an inflection point for our business and are excited to be working with Trinity as Aledia enters its next phase of growth. Today’s display technologies are not equipped for mobile devices. technology and this investment will help us further develop our nanowire technology to deliver a superior product to current OLED technologies.”
About Trinity Capital Inc.
Trinity (Nasdaq:TRIN), an internally managed specialty lending company that has elected to be regulated as a business development company under the Investment Companies Act of 1940, as amended, is the a leading provider of debt, including loans and equipment financing, for growing stage companies, including venture-backed companies and companies with institutional investors. Trinity’s investment objective is to generate current income and, to a lesser extent, capital appreciation through investments consisting primarily of term loans and equipment financings and, to a lesser extent, loans working capital, equity and equity-linked investments. Trinity believes they are one of the only select groups of specialist lenders with the knowledge, experience and track record in growth stage business lending.
Aledia develops and manufactures microLED screens and components to equip $120 billion global display market with next-generation technology. Its proprietary 3D microLED technology uses large-area GaN-on-silicon nanowires that emit light and can be used to manufacture state-of-the-art displays that deliver better performance at competitive prices compared to current OLED technologies. These improvements include longer battery life on mobile devices, better outdoor readability and faster refresh rates, as well as sharper colors. The company is targeting markets for smartphones, laptops and tablets, augmented reality displays and large TVs. Based in the Grenoble region at France, Aledia has 200 employees. He graduated from CEA-Leti, the French institute for R&D in microelectronics, in 2012. Visit www.aledia.com/.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees. performance or results and involve a number of risks and uncertainties, including the impact of the COVID-19 pandemic on the economy, financial markets, our business, our portfolio companies and our industry. Actual results may differ materially from those in forward-looking statements due to a number of factors, including those described from time to time in documents filed with the Securities and Exchange Commission. Trinity assumes no obligation to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this press release.
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