Noctiluca Secures PLN 13M to Accelerate OLED Innovation
Noctiluca Secures PLN 13M to Accelerate OLED Innovation and International Expansion
Noctiluca Signs Investment Agreement to Raise PLN 13M for OLED Material Development and Global Commercial Scaling
Toruń-based deep tech company Noctiluca SA, listed on the Warsaw Stock Exchange, has signed an investment agreement to issue 149,000 series I shares at PLN 90 per share, raising approximately PLN 13 million (~€3 million) to execute its international growth strategy. The share price was determined following a targeted roadshow and investor meetings.
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The capital will fund a major scale-up of Noctiluca’s OLED material development capabilities, including investments in advanced equipment for panel and diode testing. Additionally, the financing will support the company’s commercial expansion across key Asian markets, particularly China and Taiwan, which are emerging as strategic hubs in the global OLED industry.
“Noctiluca has always been ambitious,” said Mariusz Bosiak, CEO of Noctiluca. “This investment allows us to accelerate the deployment of next-generation OLED materials by strengthening our engineering capacity. Expanding our machinery will significantly optimize the testing process. Just as importantly, this round enables us to scale our commercial footprint in Asia and beyond.”
The transaction formally closes Noctiluca’s planned equity round, according to Michał Chabowski, Managing Partner at Rubicon Partners, which led the round and has been involved in all prior equity transactions at Noctiluca, including its debut on NewConnect and subsequent transition to the Main Market of the Warsaw Stock Exchange. Rubicon-affiliated funds recently declared a 7.44% equity stake in the company, cementing their role as long-term strategic backers.
Rapid Progress and Global Partnerships
Since entering the Main Market in December 2024, Noctiluca has signed three major partnership agreements with Chinese technology leaders and plans to announce a fourth this month. These include:
A Joint Development Project with Juhua, a subsidiary of TCL (66%) and Tianma (33%), focused on applying printed OLED technology in IT devices.
An MTA+ (Material Transfer Agreement) with a top-tier automotive OLED display manufacturer, involving full-device testing.
A material testing and sales agreement with a global telecom equipment giant, under which initial shipments of proprietary OLED materials have already been delivered.
These developments underscore Noctiluca’s pivot toward becoming a European OLED hub, offering partners a complete innovation pipeline—from molecular design to material synthesis, diode/panel testing, and proprietary OLED ink formulation.
Market Validation and Analyst Optimism
Noctiluca’s strategy and execution continue to draw positive attention from financial analysts. In May 2025, Noble Securities initiated coverage with a price target of PLN 184 per share, reflecting an 88% upside at the time. A separate analysis from East Value Research forecast a similar valuation of PLN 189 per share.
A Deep Tech Pioneer from Poland
Noctiluca specializes in advanced organic materials used in next-gen electronics, including OLED emitters for displays, wearables, lighting, and VR systems. The company operates a state-of-the-art lab in Toruń, two R&D units in South Korea, and collaborates with leading research institutes in Germany and Taiwan’s ITRI, the island’s top tech and industrial development agency. Its materials are already being tested or integrated by 8 of the 10 largest display manufacturers worldwide, including industry leaders from South Korea and China.
By focusing on both technological depth and commercial reach, Noctiluca exemplifies Poland’s growing stature in the global deep tech arena.
