September 14, 2011 – BUSINESS WIRE — 3M, via the 3M New Ventures organization, invested an undisclosed sum in Pixel Qi Corp., an LCD panel developer with operations in Taiwan and California. The funding led by 3M New Ventures concludes Pixel Qi’s series B investment round.
The 3 yr. old company designs LCD screens that can be read in sunlight and consume less power than traditional LCD panels. They target mobile device integration.
3M expects "new opportunities for both companies" to emerge from the partnership, "combining Pixel Qi’s disruptive display technology with [3M’s] technology platforms," said Stefan Gabriel, president of 3M New Ventures. Pixel Qi will leverage the investment to accelerate adoption of its full function color LCD screen for indoor/outdoor use, said Dr. Mary Lou Jepsen, co-founder and CEO of Pixel Qi. The funding will enable Pixel Qi to develop its product offerings into volume consumer markets, as well as digital signage and touch applications; it also will support Pixel Qi’s build up of engineering and sales capabilities.
3M’s Optical Systems Division makes the specialized films used in LCD displays to optimize light throughput.
3M New Ventures identifies highly innovative companies and future technologies. These opportunities include investments in the strategic sectors of display, energy, water, architecture, media, healthcare and safety and security, with linkages to 3M.
Pixel Qi Corporation designs innovative LCD screens and operates as a fabless display house. Pixel Qi designs all layers of the LCD, including every mask, the liquid crystal mode and material, the optical films, the driving scheme and the backlight. Pixel Qi, is a spinoff of One Laptop Per Child, the creator of the $100 laptop, where Pixel Qi CEO and founder Mary Lou Jepsen was chief architect and chief technology officer. For further information, visit www.pixelqi.com.