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TC TECH receives letter of intent from Chinese LGP manufacturer to order a production system before the end of the year

TC TECH Sweden AB (publ) announces that the company has received a letter of intent (LOI) from a Chinese manufacturer of premium quality LGPs for LCD displays to order a TCP 150 system with roll-to-sheet feeding (RtS) before the end of the year.

The LOI shortens the delivery time as the production of the TCP 150 system is initiated before the actual order can be confirmed internally by the customer and sent to TC TECH. The customer produces LGPs in the premium segment and delivers to Chinese as well as international LCD display manufacturers. “This LOI is important for TC TECH as we will now be able to install our technology also in China, one of the world’s largest markets for LGP manufacturing. As the customer works with several large LCD display manufacturers, they are in an excellent position to get our technology into future models in product categories such as mobile phones, tablets and laptops,” says TC TECH’s CEO Alexander Luiga.

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TC TECH receives order for a second production system from customer in Taiwan

TC TECH Sweden AB (publ) announces that the company has signed an agreement with a customer in Taiwan to deliver a second TCP-150 system, including Roll-to-Sheet (RtS) functionality, for production of High Performance LGPs used in LCD displays. The delivery is expected to begin in December 2018 and will be visible in the interim report for Q1 2019, at the latest.

The company has previously announced the customer’s intent to sign an agreement for the delivery of a second system after final approval of the first delivery. “The fact that the customer has decided to move forward with the second delivery almost immediately after having approved the first system show that there is a substantial demand in the market to be able to manufacture LGPs with the market leading quality that the TCP 150 delivers. It also proves that we have succeeded in building a strong customer confidence in our ability during the testing and adjustment phase, as well as that our system has reached an industrial level of quality,” says TC TECH’s CEO Alexander Luiga. The company is now shifting its main focus from substantial development work to more marketing activities, including intensified application development and additional production of samples as well as demonstrations of the TCP 150 system for potential customers.

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TC TECH receives final approval from customer in Taiwan

TC TECH Sweden AB (publ) announces that the company has received final approval of the production system for high-volume manufacturing of High Performance LGPs for LCD displays that was delivered to a customer in Taiwan in July. This is an important milestone for the company as it now has a fully approved product in Asia for mass production of ultra-thin plastic products with nanostructure patterns.

The customer that has approved the production system is an Asian company within development and production of components for major manufacturers of LCD displays. “TC TECH now takes an important step forward, from being a development company with a strong technology platform to also being a supplier of a market leading product that is used commercially for industrial high-volume manufacturing. We awaited this final approval, that was preceded by rigorous long-term testing, and commercial manufacturing in increasing volumes at the customer’s production facility before we start offering the system to additional customers. Now that we have achieved this, we are starting up our sales activities at full speed, and we see excellent possibilities to convert ongoing discussions with existing and potential customers to new orders already in 2018,” says TC TECH’s CEO Alexander Luiga. TC TECH’s production system for the manufacturing of ultra-thin, High Performance LGPs (Light Guide Plates) used in LCD displays makes it possible to create LCD displays that are thinner and has an improved picture quality while also consuming less energy. The competition between manufacturers of LCD displays, and from manufacturers of OLED displays, has created a very strong interest in TC TECH’s production system and technology from companies at different stages of the production chain aiming to take LCD displays to the next level.

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TC TECH Sweden AB (publ) publishes its interimreport as of 30 June 2018

Net sales amounted to 0 (0) TSEK in the second quarter of 2018. In the same period, net profit/loss totalled -7 557 (-5 869) TSEK. Cash flow from operating activities was -6 164 (-3 657) TSEK in the second quarter of 2018. Net sales amounted to 0 (3 141) TSEK in the first half of 2018, while net profit/loss totalled -15 222 (-10 262) TSEK. Cash flow from operating activities was -11 210 (-7 752) TSEK in the period from 1 January to 30 June 2017. TC TECH has in June made a directed equity issue of 1 217 800 shares, based on the authorization granted by the AGM held on May 16th 2018.  As a result of this resolution, the company’s share capital increased by SEK 97.4 thousand and liquid funds by around SEK 14 million.   

TC TECH Sweden AB (publ) has received a patent approval in Sweden for the patent application ”Method and arrangement for metal processing”. The approval in Sweden is the first one regarding partial hardening and extends the patent protection for the company’s general technology platform. The patent will be valid until the 3rd of July 2038. TC TECH Sweden AB (publ) announces that the company is delivering an upgraded production system for volume production of LGPs for displays to a Taiwanese customer after successfully completed tests in the company’s facilities in Stockholm. Delivery and installation in Taiwan occurred during July. Production tests are in progress for final approval.  TC TECH has received funding of 9 MSEK from the company's main shareholder

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TC TECH delivers the first unit of its upgraded production system to Taiwan

TC TECH Sweden AB (publ) announces that the company is delivering an upgraded production system for volume production of LGPs for displays to a Taiwanese customer after successfully completed tests in the company’s facilities in Stockholm. The installation in Taiwan is expected to be completed in July.

The upgraded production system will replace a previously delivered system, as communicated in the press release published on February 7, 2018. The tests of the upgraded production system were conducted on behalf of the client in TC TECHs cleanroom in the company’s facilities in Stockholm. The cleanroom was installed in the spring and has made it possible to test the system in demanding industrial conditions. The company has thus been able to prepare and fine-tune the product before commencing the delivery process. “The successful completion of these tests confirm that the upgraded version of our production system is robust and capable of manufacturing high-quality LGPs. We will now complete the delivery and installation of the system in July,” says TC TECH's CEO Alexander Luiga.

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IR-kontakt

Tommy Nee
CFO
Tel: +46(0)706 19 57 63
E-mail: tommy.nee@tctech.se

Certified Adviser

Bolaget har utsett Arctic Securities AS, filial Sverige till Certified Adviser.

Arctic Securities AS, filial Sverige
Biblioteksgatan 8
111 46 STOCKHOLM
Tel: +46(0)8 446 860 80
Web: www.arctic.com/secse/