We are making multifunctional organic materials for consumer electronics devices (OLEDs, displays, lighting, solar cells, smart windows) to enable manufacturers to reduce manufacturing time and cost, while enhancing performance and doing so in sustainable manner.
We have 4 pilots and 6 letters of intent from potential customers. We are currently actively refining our technology to produce MVP that they would be able to purchase. MArgik also successfully produced commercial-grade demo devices with 2 manufacturers.
Manufacturers of OLED display, lighting, solar cells, and smart window technologies.
Problem or Opportunity
Organic light emitting diodes (OLEDs) are too complex to manufacture causing high costs for consumers. New simplified manufacturing is inaccessible due to materials that are used now not being compatible. And materials including being challenging to source and toxic elements makes the technology not sustainable. Therefore, there is a gap on the market.
Solution (product or service)
Margik is simplifying manufacturing of OLEDs, by providing compatible materials that do not employ scarce elements, enable 90% faster production resulting in lowering of CO2 emissions associated with manufacturing by a factor of 30, and increasing revenue margins.
Our competitors are good at what they do but our customers have to pick their battles between compatibility, simplification, and sustainability. We are offering a solution that is not going to be cheap but will reduce the costs of production of devices by $2billion per manufacturing line, and do that in a sustainable manner. SOme of the key competitors are Mitsubishi chemical, LG Chem (in active discussions), and Merck (have letter of intent form them).
Advantages or differentiators
We have mobile multifunctional platforms that are targeting the safety and sustainability aspects as our primary focus. Therefore we are addressing those manufacturers that produce devices with very strict guidelines of what they can and cannot use. Our materials are organic, all earth-abundant, and non-cytotoxic.
B2B primarily. 70% direct materials sales to manufacturers $1B/year; 20% R&D customization, and 10% licensing to parallel markets.
Our go-to-market strategy is to become supplier of high-quality charge transport materials for OLED and OPV device manufacturers. Our beachhead market is the small to medium-sized OLED companies such as Inuru, Lusoco, OLEDWorks, developers of flexible electronic devices. We estimate costs for production of materials at this scale would be approximately $10/g, includes production of product and facilities costs. The current retail price of competing high-end electron transport materials is $40-$500/gram. We plan to offer the product to US and European customers first, expanding to Asia later.
Money will be spent on
Pilot production scaleup, to turn our LOIs into purchase orders in 16 months.