Closing of an oversubscribed seed round for Brilliant Matter
September 23, 2021 – Brilliant Matters announces Strategic Investment to accelerate production of their High-Performing, Reliable and Scalable Semiconductors for printed electronics
Brilliant Matters is proud to announce the closing of an oversubscribed $3.5M seed round. The round was led by Ecofuel Fund, a specialized and dedicated cleantech fund, together with Investissement Québec, Anges Québec and GSI Creos Corporation. Founded in 2016, the company uses an innovative clean and reliable production method to produce a new generation of printable and flexible semiconductors that offers an eco-friendlier and cost-effective alternative to traditional electronics.
Using their proprietary process, Brilliant Matters’ polymers and compounds were able to increase the performance and stability of organic printed solar modules, two key competitive factors in the solar energy market. Owing to the impact of this technological advance, Brilliant Matters has received this investment to scale up production in the market. Furthermore, the company will also expand into other high value markets that will benefit from their technology, such as photodetectors, memory chips, and IOT applications.
“The Brilliant Matters project holds great promise for Quebec, both economically and in terms of sustainable development. By giving young companies the means to bring innovative and environmentally responsible products to market, we are creating the conditions for a forward-looking and globally competitive economy. This is exactly the type of project we wanted to see come to life with the Impulsion PME program,” says Lucie Lecours, Minister for the Economy.
“The Ecofuel fund is a pillar in the search for innovations that have significant environmental impact. Brilliant Matters has succeeded in developing a revolutionary sustainable production process that enables the manufacturing of several materials for a new generation of organic printed solar modules and semiconductors. The quality of the management team and the financial partners is key for growth”, describes Richard Cloutier, Managing Partner of the Ecofuel Fund.
Together with the help of long-time partner and now investor GSI Creos, Brilliant Matters also plans to greatly expand commercialization efforts. “The company philosophy of GSI Creos and the evolutionary direction of Brilliant Matters are in line with each other.” says Takashi Yanagisawa, Executive Officer of GSI Creos. “We are very excited to collaborate with BM to improve the global environment and grow the Energy Harvesting industry thanks to this wonderful partnership.” Anticipating highly increased demand, Brilliant Matters will scale up manufacturing operations to produce hundreds of kilograms per year. Yanagisawa continues, “We invested in Brilliant Matters because their unique synthesis technology is Green, and their IP portfolio is clear. We are convinced of BM’s bright future in “Deep Tech” and their approach that will meet the clean technology needs of the world and society.” This scale up would not only be a milestone for Brilliant Matters, but would also help the organic semiconductor industry as a whole to rapidly adopt new innovations that will have a major impact on the environment.
“We are pleased to support Brilliant Matters, a promising player in the semiconductor industry, by taking part in this round of financing”, says Guy LeBlanc, President and CEO of Investissement Québec. “With the Impulsion PME program, which Investissement Québec administers on behalf of the government, we are able to support the development of young, innovative businesses in the start-up phase that have strong growth potential, in every region of Québec. Our participation helps Québec businesses attract the interest of other venture capital investors and provides all the tools they need to be an active part of the economic recovery, whatever their stage of development.”
About Brilliant Matters:
Brilliant Matters was created by passionate material scientists to fulfill the need for a reliable supply of next generation organic semiconductors. By using innovative chemical processes, we provide value-added and environmentally friendly solutions to emerging printed electronics technologies. The company was founded in 2016 and now offers a state-of-the-art line of high-purity products for the organic photovoltaic industry. The company is growing rapidly and plans to expand to several new markets and scale-up its production capacity in Q4 2021.
About Ecofuel Fund:
For more information on Ecofuel Fund, please visit: www.fondsecofuel.ca
About Ange Québec:
Thanks to the strength and diversity of its network, Anges Québec strategically accompanies angel investors and passionate and innovative entrepreneurs in their international ambitions. Founded in 2008, Anges Québec has over 230 members who have so far invested over $125 million in more than 160 Quebec high growth potential companies, positioning itself a leader in the Québec venture capital industry.
About GSI Creos
GSI Creos Corporation is an International Trading Company based in Japan. They focus on business integration and production, and work with a wide range of companies from materials to finished products, all within the industrial and textile sectors.