Kyulux announces a new CFO as the company progresses towards Hyperfluorescence commercialization

Japan-based Hyperfluorescence materials developer Kyulux announced that Jimyeong Yu will join its executive management team, as the company's new Chief Financial Officer (CFO). 

Jimyeong Yu will take over as Kyulux’s CFO, replacing Akira Minakuchi, who passed away in September 2023. As CFO of Kyulux, Jimyeong Yu will oversee financial accounting operations including procurement activities, and as a member of the management team, will be involved in formulating and implementing future business plans.


Mr. Yu was kind enough to answer a couple of questions we had regarding his new role at Kyulux and the company's current status.

Can you tell us a bit about what you think of the OLED industry? Why did you choose to start a new position in an OLED materials developer company such as Kyulux?

When I was a student, I majored in materials science at the University of Tokyo and researched inorganic compounds. At that time, my supervising professor instructed me to "predict material properties with quantum chemical calculations before conducting experiments to improve efficiency." However, given my academic knowledge and the level of computer science at the time, I couldn't achieve that, and I ended up writing my master's thesis by conducting many experiments. This remains a regret for me.

What surprised me the most when I talked with CEO Nakano and other members of Kyulux was that they had successfully integrated quantum chemical calculations and experiments. I once gave up on merging computer science with materials science. But if it can really be achieved, I understand that there are great possibilities there.

There are great possibilities there, which is why I want to dedicate my life to it. That is my belief.

We know you are new to this field. But the industry has been looking for the commercialization of TADF/HF material systems for many years. Can you update on the status and roadmap of Kyulux?

We apologize for the delay in getting TADF/HF commercialization to you, but I believe we will be able to deliver good news in the near future. That belief is what led me to join this company.

In particular, Kyulux's long-term investment in the AI/MI platform Kyumatic™ is now accelerating the speed of material development. What I want to emphasize is that this is not just about achieving results at the same speed, but rather that we are accumulating results at an accelerated speed. This means that the progress we make in one year now is significantly different from the progress we made a few years ago. This is Kyulux's perspective.

Therefore, as mentioned, I think we will be able to deliver good news in the near future, and I hope everyone will have high expectations for Kyulux.

As a newcomer to the OLED Industry, can you tell us your first impressions on the OLED industry? How is it perceived from an "outsider"?  

After obtaining my master's degree in materials science, I worked in the investment banking division of J.P. Morgan, where I was in charge of electronics manufacturers. Having witnessed many Japanese electronics manufacturers withdraw from the display business, my initial impression, honestly, was whether there was still potential in OLED technology. However, after talking with CEO Nakano and my colleagues at Kyulux, I now realize that my initial thoughts were significantly mistaken.

OLEDs are made from organic semiconductor materials, and I believe that organic semiconductor materials are only just beginning to reach a wide range of people. Currently, silicon-based semiconductors nearly dominate the market, but I am confident that organic semiconductors will become a major industry in the future. OLED, as an application of organic semiconductor materials, are at the forefront of this industry. By developing cutting-edge OLED materials, Kyulux has the potential to lead the organic semiconductor industry and bring new value to many people in the future.

Thank you Mr. Yu - and good luck to both you and Kyulux!

Towards the end of 2023, Kyulux raised $28.6 million USD in its Series C funding round, which brings Kyulux total funding so far to $86 million USD. Kyulux believes it will achieve full-scale mass production of its emitter system by 2025.

Kyulux's 4th-Gen emission technology, Hyperfluorescence, achieves an almost 100% IQE, and also offers a narrow emission spectrum. According to the company, this means that the total system efficiency of HF-based OLEDs can be higher than that of PHOLED OLEDs.

Posted: Jul 05,2024 by Ron Mertens