Business
Trinity Capital Inc. Provides $30 Million Growth Capital to Aledia
PHOENIX, May 10, 2022 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity" or the "Company"), a leading provider of debt and equipment financing to
About this update from Trinity Capital Inc.
[{"type":"text","content":"PHOENIX, May 10, 2022 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) (\"Trinity\" or the \"Company\"), a leading provider of debt and equipment financing to venture capital backed growth stage companies, announced today that it has closed a $30 million equipment financing line for Aledia, a LED technology company that develops and manufactures next-generation microLED displays.\n\n \n \n \n \n \n \n\n \nFounded in 2011 and based in Grenoble, France, Aledia is a fast-growing company that develops 3D micro-light-emitting-diode (microLED) chips used in displays, based on a unique 3D architecture using gallium-nitride on-silicon microwires. Aledia's ambition is to be a major player in the global microLED display market, bringing advanced microelectronics manufacturing technology to the world of displays, including products such as smartphones, tablets, VR/AR systems, smartwatches, laptops and wearable devices.\n\"We are thrilled to partner with Aledia on their journey towards disrupting the display market,\" said Ryan Little, Managing Director of Equipment Financing at Trinity. \"Their entrepreneurial spirit is just as impressive as their technology, and we could not be happier to support the team as they continue to build and grow the company.\"\nThe team at Aledia expects to use these proceeds to further establish their in-house manufacturing for nanowire growth and accelerate product platforms and development.\n\"At Aledia, we are committed to creating proprietary technology foundational to the future of next-generation displays,\" said Giorgio Anania, Chief Executive Officer of Aledia. \"We are at an inflection point for our business and are excited to be working with Trinity as Aledia enters its next phase of growth. Today's display technologies are not equipped for modern mobile devices and this investment will help us further develop our nanowire technology to provide a superior product to current OLED technologies.\"\nAbout Trinity Capital Inc.Trinity (Nasdaq: TRIN), an internally managed specialty lending company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, is a leading provider of debt, including loans and equipment financing, to growth stage companies, including venture-backed companies and companies with institutional equity investors. Trini...