Germany: EIB provides €30 million financing to OLEDWorks for automotive lighting

This article is published in association with European Investment Bank.

• EIB financing supports OLEDWorks in ramping up the manufacturing and R&D of their lighting technology.
• The company’s products combine high brightness, longevity, energy-efficiency, and reduced waste. 
• The loan is backed by the European Commission’s InvestEU programme, which aims to promote sustainable investment, innovation, and job creation in Europe.

Luxembourg/Aachen, 26 June 2025. – The European Investment Bank (EIB) has granted financing of €30 million to OLEDWorks, a provider of innovative lighting solutions for the automotive industry, microdisplays, and other specialty lighting applications. The loan aims to support the company’s expansion and product development within the European Union, with a primary focus on automotive clients. Most of the investment will be used at the borrower’s existing site in Aachen, Germany.

OLEDWorks specialises in designing and developing lighting solutions based on organic light-emitting diodes (OLEDs). Its technology offers a combination of high brightness, energy efficiency, and durability. Notably, the company has developed an innovative application for OLED panels in the automotive sector, which represents a first-of-its-kind use case at scale.

The financing provided by the EIB will enable OLEDWorks to strengthen its position as a world leader in multi-stack OLED technology, and to expand its portfolio of automotive customers. It will also allow OLEDWorks to capitalise on the nascent trend of using OLED technologies in the automotive sector, which is expected to gain momentum in the coming years. Furthermore, the financing will help to keep key manufacturing sectors and innovation in Europe, as the lighting industry has largely been delocalised to Asia in recent decades.

“OLEDWorks provides the type of cutting-edge technology that will secure a bright future for Europe and its people,” said EIB Vice President Nicola Beer, who oversees the Bank’s operations in Germany. “The financing provided by the EIB reflects our commitment to supporting innovative companies in strategic sectors. OLEDWorks’ lighting solutions align with our objective of fostering technological advancements on the continent—progress we need if we want Europe to be competitive and green.”

David DeJoy, CEO of OLEDWorks, emphasizes the pivotal role this investment plays in meeting customer needs: “The financing provided by the EIB will allow for expedited technology development and will enable advancements of OLED lighting technology with higher segmentation and display-like capabilities, higher brightness for automotive stop and turn applications, and bendable OLED panels.”

Wolfgang Görgen, Managing Director of OLEDWorks GmbH, adds: ”The technology advancements along with enhanced capacity at our Aachen facility will empower us to respond swiftly to our customers’ demands.”

The EIB support is expected to facilitate OLEDWorks’ growth plans and enable the hiring of some 45 new employees over the next three to four years. The project falls under the InvestEU-supported Future Tech programme loan, which addresses funding gaps and provides adequate risk capital to venture-backed companies in the EU. European small and mid-sized companies often face challenges in accessing non-dilutive financing options for growth investments. Since its establishment in 2016, the EIB’s innovation financing team has addressed the unique funding needs of over 300 fast-growing companies, investing €7 billion in the process.

Background information

About the European Investment Bank

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.   

About OLEDworks

OLEDWorks is a global leader in the development and production of innovative organic light-emitting diode (OLED) technology. By producing the world’s best-performing OLED panels and combining rapid product innovation, OLEDWorks enriches lighting solutions in automotive, specialty, and microdisplay applications.

The OLEDWorks manufacturing facility is IATF 16949 and ISO 9001, 14001, 45001 certified with full traceability via a factory MES system.

About the InvestEU Programme

The InvestEU programme supports the sustainable recovery of the European Union by leveraging significant private and public funds. It aims to crowd in private investment for strategic priorities such as the European Green Deal and the digital transition. The programme simplifies and enhances funding opportunities for investment projects within the European Union. It consists of the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is implemented through financial partners utilising the EU budget guarantee of €26.2 billion to mobilise at least €372 billion in additional investment.