Pixelligent develops and manufactures nano-engineered materials—notably via its PixClearProcess—for augmented reality displays, sensors and lubricant applications. The PixClearProcess synthesizes materials at the nano level rather than breaking down larger materials. The company manufactures all of its materials in Baltimore and has 25 tons of production capacity. Pixelligent owns nearly 90 patents and “dozens” of trade secrets underpinning its products. CEO Craig Bandes, who took control of the company in 2009 as chief restructuring officer, said the funding will help support customers as the company brings numerous mass-production applications to market in 2023 and beyond. The company also recently received a $1.9 million U.S. Department of Energy grant; prior to this financing it had raised about $100 million to reach its current market position. Pixelligent synthetically replicates a broad set of metal-oxide materials and manufactures PixClear nanoparticles intended for integration into common manufacturing processes via its PixClearProcess. The company is commercializing PixClear as a nanoparticle solution and lubricant additive engineered to withstand intense operating conditions in harsh environments, aiming to improve performance, energy efficiency, reduce wear, and extend component lifetime. Target applications named in the article include wind-turbine gearboxes, EV wheel bearings, marine components, steel and aluminum rolling plants, and space-related uses. Pixelligent’s platform supports multiple application formats (ink jet, nanoimprint, spin coating, dispensing, photolithography) and its product family is cited for Extended Reality devices, OLED/MicroLED displays, optics, sensors, and solid-state lighting in addition to industrial uses. Research partners on the commercialization effort include the Carpick Research Group at the University of Pennsylvania and Argonne National Labs; commercial testing partners include ExxonMobil, Infineum, and Winergy‑Flender. The company has received multiple U.S. government awards—DOE and DoD programs have provided nearly $6M to date—and the current DOE award is intended to accelerate commercial implementation of their coating and lubricant technology. Pixelligent is a Baltimore, MD-based high-index advanced materials manufacturer that leverages nanomaterials to develop dispersion technology for next-generation OLED and HD displays, OLED and LED lighting, and optical coatings and films. Its flagship PixClear® zirconia dispersions deliver high light extraction, near-perfect transmission, increased mechanical strength, and improvements in overall operating efficiencies. The PixClear® nanocomposites can be incorporated into solvents, polymers/monomers, and the manufacturing processes most commonly used in electronics manufacturing. Led by President & CEO Craig Bandes, the company raised $7.6M in funding to accelerate commercialization. Pixelligent intends to use the proceeds to further drive product commercialization and accelerate global customer adoption across its target markets. Pixelligent develops PixClear® zirconia nanocomposite dispersions designed to improve light extraction, transmission, mechanical strength, and operating efficiencies in OLED/LED lighting, HD displays, optical coatings, and industrial applications. Its dispersions can be incorporated into common solvents, polymers/monomers, and manufacturing processes used in electronics production. The company is leveraging grant funding to accelerate development of applications across lighting and industrial lubricants. Recent awards will support extending OLED light-extraction materials toward next-generation flexible OLED lighting and developing PixClear-enabled gear oils to improve gearbox and drivetrain lifetime and energy efficiency. Pixelligent collaborates with the University of Pennsylvania and Argonne National Laboratory on lubricant development. The company has grown through grant awards and private funding and was recognized by Frost & Sullivan as the 2017 Manufacturer of the Year for SMBs under $1B in revenues. Pixelligent develops and manufactures high-index advanced materials, marketed as PixClear®, for solid-state lighting, display and optical coatings and films. Its nanotechnology platform includes proprietary nanocrystal synthesis, capping technology, high-volume manufacturing and application engineering that supports ink jet, slot die, UV curing, spray coating and other manufacturing processes. The company intends to use the new $10.4M in funding to complete installation of additional manufacturing capacity, open new offices in Asia, and continue to drive innovation in lighting, display and optical applications. The $10.4M round was led by The Abell Foundation, The Bunting Family Office and David Testa and brings total equity raised to over $36.0M. Pixelligent is led by President & CEO Craig Bandes and is based in Baltimore, MD.

Total raised

$83M

Funding rounds

10

Latest round

Debt Financing

Latest activity

Nov 2022