EIB Grants €30M to OLEDWorks to Advance Automotive Lighting in Europe

In a significant move to bolster European industrial innovation, the European Investment Bank (EIB) has announced the approval of a €30 million financing package for OLEDWorks, a pioneering manufacturer of OLED-based lighting systems. The funding, primarily directed at the company’s Aachen, Germany facility, will support product development, technological advancement, and expansion into the automotive sector.

The loan comes as part of the InvestEU-supported Future Tech programme, which is tailored to support high-potential technology firms across the European Union and addresses structural financing gaps for fast-growing, venture-backed companies.

OLEDWorks: A European Lighting Innovator with Global Reach

OLEDWorks stands out in the global lighting industry as a specialist in organic light-emitting diode (OLED) technologies. Unlike traditional lighting, OLED panels provide thin, lightweight, and flexible lighting surfaces with superior energy efficiency, visual quality, and durability.

The company has made breakthroughs in multi-stack OLED technology, allowing for higher brightness, advanced segmentation, and display-like functionality. These characteristics are particularly valuable in the automotive industry, where design flexibility, visibility, and efficiency are increasingly vital.

Strategic Focus on Automotive Lighting Applications

The EIB’s investment will largely be deployed to scale up OLEDWorks’ innovations in the automotive lighting segment. The company has already demonstrated first-of-its-kind applications of OLED panels for brake lights, turn signals, and ambient vehicle lighting—a market poised for significant growth as automotive OEMs seek energy-efficient and customizable solutions.

“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,” said David DeJoy, CEO of OLEDWorks.

Enhancing European Manufacturing and Technological Sovereignty

In recent decades, much of the global lighting manufacturing industry has shifted to Asia, raising concerns about Europe’s strategic autonomy in high-tech sectors. The EIB’s support of OLEDWorks aims to reverse this trend by ensuring that critical manufacturing and R&D capacity remain in Europe.

“OLEDWorks provides the type of cutting-edge technology that will secure a bright future for Europe and its people,” remarked Nicola Beer, EIB Vice President responsible for operations in Germany. “The financing reflects our commitment to supporting innovative companies in strategic sectors.”

This investment also underscores the EIB’s commitment to promoting green and digital transformation within the EU, helping to meet broader climate goals and industrial policy objectives.

Employment and Growth Opportunities in Aachen

As part of its growth strategy, OLEDWorks plans to hire approximately 45 new employees over the next three to four years at its Aachen facility. This recruitment will help expand engineering, production, and R&D teams, ensuring that the company can meet growing demand from its European and global customer base.

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

InvestEU Future Tech: Empowering High-Growth EU Innovators

The €30 million financing package was facilitated under the InvestEU Future Tech programme, which supports high-risk, high-reward innovation in emerging European tech firms. Since 2016, the EIB’s Innovation Finance Advisory division has provided over €7 billion in innovation-focused funding, supporting more than 300 scale-ups and deep-tech companies.

OLEDWorks’ funding highlights the role of non-dilutive finance as a vital alternative to equity-based capital for tech companies seeking sustainable growth without loss of control.

Conclusion: Lighting the Way for Europe's Tech and Auto Future

OLEDWorks' success story illustrates the EU’s strategic focus on industrial innovation, climate-conscious technology, and supply chain resilience. The EIB’s backing affirms the importance of supporting mid-sized, high-tech enterprises that bridge the gap between research breakthroughs and commercial application.

As Europe pursues a green and competitive industrial base, partnerships like the one between the EIB and OLEDWorks show how public finance can unlock private innovation, ensuring the continent remains at the forefront of next-generation technology.