By 2016, a decade since our establishment and 30 years after the first EL displays were made in Espoo, Beneq decided to launch a semicon business line in addition to other advanced ALD applications. Further, we decided to pursue the transparent display opportunity with our unique Lumineq technology.
Business growth seldom happens without capital injection. It had become clear that a systematic search for an able and accomplished owner was vital. In June 2018, an agreement was signed with SRI Intellectual, a newly formed joint venture from Qingdao, China.
Following the acquisition, SRI-I has provided sufficient financial support to Beneq through different mechanisms to strengthen our balance sheet, accelerate research, development and sales, as well as to provide cash for working capital.
In 2020, we completed a brand-new cleanroom for equipment assembly and an application laboratory at our Espoo, Finland, facility. From 120 employees in 2016, we will have a headcount of over 200 by the end of 2021.
Owing to the strong tailwind in technology industries globally, Beneq sees excellent opportunities for growth in the near future. Lumineq transparent displays are gaining traction especially in automotive and optical solutions.
As of October 01, 2021, Beneq Group Oy incorporated its business into two new legal entities: Beneq Oy for our ALD equipment and services business, and Lumineq Oy for our display business.
Beneq Group Oy continues its story as 100% shareholder of both Beneq
Oy and Lumineq Oy, focusing on strategic investments in new, inorganic growth opportunities.
We keep ticking – at an accelerated pace.