Kuraray and Vitriflex Launched a New Strategic Collaboration
October 25, 2013
TOKYO–(BUSINESS WIRE)–In August 2013, Kuraray Co.,Ltd. (TOKYO:3405), a specialty chemical company headquartered in Tokyo, Japan, and Vitriflex Inc., a leading developer of high-performance barrier films based in San Jose, California, launched a new strategic collaboration to accelerate Vitriflex’s technology development and production scale-up. As part of that strategic collaboration, Kuraray led a new equity investment round in Vitriflex and Toshio Suzuki, Vice President of Kuraray America Inc., based in Houston, Texas, was appointed to the Board of Vitriflex.
Vitriflex encapsulation provides electronic devices with cost-effective protection from moisture and oxygen, improving their lifetime and reliability. Vitriflex ultra-barrier film is flexible, thin, lightweight, and shatterproof, enabling the replacement of glass as an encapsulant.
Kuraray launched its Silicon Valley branch in 2011, in order to explore new technologies and collaboration with startups. Kuraray is excited by the great potential of Vitriflex’s technology, and it views the Vitriflex collaboration and investment as the beginning of an increase in its collaborative activity with startups.
Kuraray is a specialty chemical company with approximately $3.7B in annual sales and= about 7,000 employees world wide. Kuraray specializes in manufacturing differentiated high performance polymers and products, including PVOH resin and film, EVOH resin and film, and other industry-leading products. Kuraray considers the electronic device market segment a strategic priority, and is enhancing its business opportunities by investing in new technologies aligned with this priority.
Vitriflex is a leading developer of high-performance barrier films for flexible electronics, founded in 2010, and based in Silicon Valley in California. Vitriflex ultra-barrier encapsulation provides cost-effective protection from moisture and oxygen, improves lifetime and reliability, and has the added benefits of being flexible, thin, lightweight, and shatterproof. Vitriflex enables exciting new categories of flexible solar modules, next generation OLED and LCD displays, and solid state lighting.
Kuraray Co., Ltd.
Kazushi Koyama, +81-3-6701-1080
Corporate Communications Dept.