On February 29, the ESPACE advanced display product manufacturing base and Longchang Optoelectronic Technology Industrial Park project officially commenced in Longchang, Sichuan, with a total investment of $570 million.
The project will span approximately 70 acres and will be developed in three phases, featuring multiple production lines for LED, Mini LED, and Micro LED technologies. Once fully operational, it is expected to generate an annual output value of $1.06 billion and create around 800 jobs. The first phase is anticipated to be operational by March 2025, with subsequent phases following shortly after.
This project has progressed rapidly since its inception this year. In January, ESPACE announced the signing of the agreement with the Sichuan Longchang Optical Industrial Park, taking only 60 days from initial contact to signing. The time from signing to the commencement of construction was just two months.
ESPACE stated that this project will leverage the industrial foundation of the Chengdu-Chongqing Economic Circle to significantly advance its core business, promoting regional optoelectronic industry development. The company aims to create a high-quality ecosystem for the new display industry through a “technology + industry + park + fund” model, demonstrating its effectiveness in integrating into the Chengdu-Chongqing Economic Circle.
Founded in 2020, ESPACE specializes in the production and sales of traditional LED, Mini/Micro LED backlight modules, and Mini/Micro LED transparent screens. The company has quickly established its technology research and development framework, business development, capacity building, and secured multiple rounds of financing in the LED sector.
In terms of technology and business development, ESPACE has mastered CSP and COB packaging mass production technologies. In 2021, it established and trial-produced a Mini LED COB packaging production line, which has now achieved mass production with a product yield rate of 95%. Its LED technologies have gained recognition from leading companies such as Samsung, LG, TCL, Hisense, and Innolux.
Currently, ESPACE holds 150 self-developed patented technologies and is advancing research and development towards the commercial application and large-scale transfer of Micro LED technologies.
For capacity building, ESPACE has established three smart production bases in Dongguan Chashan, Huizhou Zhenlong, and Vietnam, with a total of 38 production lines in Huizhou and Dongguan, covering a production capacity exceeding $4.3 billion.
Additionally, ESPACE is developing two production bases in Guiyang Guanshanhu and Longchang, Sichuan, to prepare for business expansion.
In terms of financing, ESPACE completed two rounds of strategic financing in 2020 and 2022, followed by an A-round financing in 2023. In February 2024, it completed over $14 million in A+ round financing, with investors including enterprises under the Dongguan State-owned Assets Supervision and Administration Commission and other institutions.
Apart from gaining recognition from investment institutions, ESPACE also began preparations for an IPO in January this year to support the construction of the Longchang project and future Mini/Micro LED research and development.
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