PHOENIX, May 10, 2022 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity" or the "Company"), a leading provider of debt and equipment financing to venture capital backed growth stage companies, announced today that it has closed a $30 million equipment financing line for Aledia, a LED technology company that develops and manufactures next-generation microLED displays.
Founded in 2011 and based in Grenoble, France, Aledia is a fast-growing company that develops 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 microelectronics manufacturing technology to the world of displays, including products such as smartphones, tablets, VR/AR systems, smartwatches, laptops and wearable devices.
"We are thrilled to partner with Aledia on their journey towards disrupting the display market," said Ryan Little, Managing Director of Equipment Financing at Trinity. "Their entrepreneurial spirit is just as impressive as their technology, and we could not be happier to support the team as they continue to build and grow the company."
The team at Aledia expects to use these proceeds to further establish their in-house manufacturing for nanowire growth and accelerate product platforms and development.
"At Aledia, we are committed to creating proprietary technology foundational to the future of next-generation displays," said Giorgio Anania, Chief Executive Officer 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 modern mobile devices and this investment will help us further develop our nanowire technology to provide 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 Company Act of 1940, as amended, is a leading provider of debt, including loans and equipment financing, to growth stage companies, including venture-backed companies and companies with institutional equity 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, working capital loans, equity and equity-related investments. Trinity believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience, and track record in lending to growth stage companies.
Aledia develops and manufactures microLED displays and components to equip the $120 billion worldwide display market with next-generation technology. Its proprietary 3D microLED technology uses GaN nanowires on large-area silicon 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 area in France, Aledia has 200 employees. It was spun out of CEA-Leti, the French microelectronics R&D institute, 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 of future 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 the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. Trinity undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
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SOURCE Trinity Capital Inc.
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