FlexEnable announces new ownership, board of directors and expanded leadership team
FlexEnable (Cambridge, UK), a leader in the development and production of flexible organic electronics for optical modules and displays, has recently announced its new Board of Directors and additions to its leadership team. This follows the restructuring of the company in late 2022, wherein funds managed by affiliates of Fortress Investment Group LLC became the majority shareholder of FlexEnable, joined by Kilonova Capital and Coretronic.
FlexEnable’s new Board of Directors includes four directors from the new ownership: Erez Levy, Managing Director at Fortress, Lin Chen, Director at Fortress, Nick Fegan, Managing Director at Fortress, and Wes Goldstein, Managing Partner at Kilonova Capital. Other members include Chuck Milligan, FlexEnable CEO, and Dr Mark Verrall as an independent director. Dr Verrall brings decades of experience in the research, development and commercialisation of new liquid crystal materials and technologies. Previously Dr Verrall has held the position of Senior Vice President and global head of Product Development for Display Solutions business of Merck KGaA – where he oversaw the company’s R&D facilities and materials innovations.
Chuck Milligan, CEO of FlexEnable, said: “We are delighted to be under new ownership, with solid backing from world-class investors such as Fortress and Kilonova Capital and our strong partner Coretronic, a world-leader in optical modules for display and XR applications. These investors will provide great support as we enter the next phase in FlexEnable’s history, moving from prototyping unique ultra-thin, lightweight and curved optical modules in Cambridge to volume production with our Asian manufacturing partners. We are also very excited to welcome Mark to FlexEnable’s Board of Directors. I know that the company will greatly benefit from his expertise in both LC materials and development of innovative materials solutions for flexible electronics at industrial scale as we now start production ramp-up of first products.”
Erez Levy, Managing Director at Fortress, said: “FlexEnable has an exceptional team, an invaluable intellectual property portfolio, an enviable list of customers that include many of the world’s biggest brands, and an array of high-volume applications where its technology is truly a game-changer. We are very excited to support FlexEnable as it continues to develop its technology and IP while moving into volume production.”
Mark Verrall said: “I have been working with FlexEnable for many years now and have always been impressed with the team and the unique and important technology they have developed. I am delighted to join FlexEnable’s Board of Directors at this very exciting time for the company, and I look forward to supporting the team as the technology and materials move into volume production for world-class customers.”
With many exciting customer programmes and technology and capacity expansion plans, accelerated by the new investment, FlexEnable has also recently made a series of other high-profile appointments. These include David Franklin, who joined as Chief Financial Officer, and Erin McDowell, who was appointed as Chief Revenue Officer. David has a wealth of experience gained over 10 years in senior corporate finance roles in a variety of global businesses and has managed worldwide manufacturing scale-up as well as growth via M&A. Erin brings 20 years of experience driving business development of innovative materials solutions, including launching 3M’s AR/VR business which now sells materials and components to most major global brands.
FlexEnable’s disruptive flexible liquid crystal (LC) cell technology is needed for many active optics applications which require form factors that can only be achieved with FlexEnable’s unique low-temperature organic materials and manufacturing processes, backed by around 600 patents worldwide. Applications include tuneable lenses and ambient dimming films for AR/VR optics, ePrivacy screens, automotive smart windows and Organic LCDs.
Caption: Chuck Milligan, CEO of FlexEnable (photo: FlexEnable)