 Hi, hi. Hi. Hi, please introduce yourself. So hi, I'm Mateusz, my commercial guy in North Luca, dealing with all sorts of connections with the outside world, with clients, partners, our scientific advisors and business advisors. And with me, there is also Alicia. Hi. A chemist, yes. A word of two or an introduction on the other side. Yeah, hi. I'm Alicia and I'm an R&D specialist in North Luca. And I'm on a daily basis working in the lab. And where are you right now? OK, I'm in Turun in our headquarters. And Mateusz. So just to talk a little bit is that I'm in China right now and you are on the other side of the world, right? So we hope that the country is going to be stable. We're going to try. Hopefully, yes. We are in the middle of Europe and Poland. So absolutely. And Turun is actually a nice city in Poland with a lot of heritage, both cultural and also scientific base. So yeah, check it out on the map if you have the time. Nice. I see some. This is one of the videos right there. And people can check it out on YouTube, right? So if I click here from the beginning. So what do we see in the video? Shani Meadows for OLED displays. So from the beginning, Alicia, perhaps you'll be able to say in a second, on a live feed, that we are showing our materials, our lab. These are also where our materials, the chemicals that we are manufacturing are being used. What are the use cases? What are the functions that they have? And also, what sort of a business angle we take while talking about them with our partners? So you make the materials that make the OLED? Yes. So perhaps we've seen one another like a year ago. But for those of us, of your followers who do not remember that previous video, Noctiluca is a chemical company. We are designers and manufacturers of chemical compounds. But when you apply electricity to them, they glow. And they are a basic building log of screens like you use in everyday use and on TVs, smartphones, wearables, and so on and so forth. So if you look into one of those devices, you'll see that they have a screen. And if you would just pile off from, I don't know, your smartphone, this screen part, you'll see that it consists of many layers, layers that are thin as a fraction of a width of a human hair. And the most important layer in there is the layer that emits light, that makes the display glow. And we make materials that are dedicated for that layer. That's awesome. And how is it going in your office? Alicia, I think it's an interesting news. Yeah. Let me just show you our new laboratory. So it's a brand new place for us. So basically, we just move into the new space where we can do all these amazing chemical compounds. As you can see, girls are working. It's a scientific discussion. And you can see how we're working here. Of course, you can see that the new lab is a state of art. And we have all the equipment for doing our best job in synthesizing new compounds, new emitters. And as you can see, we also have not only things to synthesize, but also to check out if our compounds are really something worth investing. And who are all these guys we can see there? Your colleagues? Yeah. OK. They are right now discussing the obstacles during their synthesis. But girls are really into this, as you can see, as well as our other colleague. So can you describe the company? How has it been going since we did the last video? OK. So since last year, I believe we, and this is where Noctiluca has started, where we started off into the market as a new materials provider. We started like an in-house research lab that would, and still is, building its proprietary portfolio of materials. A year after, we not only still continue our proprietary work on best next generation of all the materials, but also we are working with the market in the chemical contract research organization model. So it's a service model where companies come to us as experts in chemistry and help us, well, look for us in us for help in developing new materials for other layers and only emissive layer in all of this. We also have a third business lag that is connected to all the known materials that are manufactured by the scientific community and are needed in the top quality, which means that we are also manufacturers of materials. And today, we probably in this lab and in other parts of this lab, we have over 100 kilograms of manufacturing capacity per year, which is a very, very decent capacity. So these are the major changes from last year, I would say, that a business model has expanded from just in-house research to chemical CRO and custom synthesis. There are two new business lags. And as you can see, our 21st century lab is on. We used to work in a slightly different setup that was probably closer to breaking bad sort of a setup. Today, we've moved to the 21st century. And so are you super famous in the industry? Everybody knows about your technology or are you changing the world slowly or fast? We're definitely on a map. There are only a handful of companies that have taken on the challenge of bringing new, very specialized materials to the market in the display industry. We are also listed on Polish stock exchange. Actually, we call it Polish NASDAQ. So it's a part of a stock exchange dedicated to technology companies. And if you've invested a year ago into Noctilucra, today you have seen a 500% stock price growth in the last 12 months. So I think our investors are happy. We are happy with that also. If that's the measure of the trust that is being put into the company, we definitely are on a certain wave. And we want to take that wave and change a few things and shake a few things in the industry. Definitely. So here I put your slides. So you have a slide presentation. Maybe you can talk a little bit about it. Sure thing. So if you look at Noctilucra, as I mentioned before, we started off as this in-house research powerhouse. And today we are a company that is very much a global organization. We have an R&D team that you're looking at here in Torun, Poland. But we also have a team in Korea that does the testing in devices. We also have team members in US. So while the R&D team is very much location-based because they have to be in one place, all the business development is done in a distributed fashion. And yes, so that's the first point. Second point, if you go through those slides, you'll see perhaps a little bit more information of how we've built that network from scratch being a fairly young company. Because we work with global globally established institutes and universities like CHU, E3 in Taiwan, Fraunhofer in Germany. We work with global companies like Tier 1 companies, LG, TCL. We also already have distributors in Japan like Filgen or a paying clients like German Inuru. I don't think it transpired last year, but we're also a part of a syntax and technologies group, which has been around for almost 20 years. And they have served the biggest corporates out there, so UPL, Sumitomo, Johnson and Johnson, and a number of industries across pharma industry, agri-tech industry, and so on and so forth. So the team behind Nautiluka, while we are a fairly young legal entity, the team behind Nautiluka has been working together for us over a decade, in some cases, 15 years together as a part of this mother organization as well. And of course, lately we've been listed on Polish Stock Exchange, which gives us a very substantial level of financial stability, but also makes us very transparent. So if you go to our website, you'll find monthly reports for our investor community. So I don't know if there are any other early stage companies like Nautiluka, who are so transparent. If you go to the Polish website, the PL here, unfortunately, we're on Polish Stock Exchange, so the reports are in Polish, and investors. It's here, exactly. And you'll see here, you'll be able to, the reports is the SP and EBI thing. Is it this? Not this one, but this one is, if you go to the, yes, on the left side, you have Start, and then you have exactly here. You get reports on every single thing that's happening in Nautiluka, like full transparency. You know, it's every major event that influences our, what is happening in the company is reflected there. And with some Google translator, you'll definitely be able to read it in English as well, or in French, if that's your preference. So yeah, and this, if you go back to the slides, you'll see that it's not happening from Finnair, it's not coming from out of nowhere. Poland, in just last couple of years, has become an economic powerhouse. If you, I think in the next slide, we will show the statistics there. In last 30 years, Poland has been, in terms of GDP growth, has been only surpassed by China, which is an amazing journey from post-communist country to today's European economic powerhouse. And on top of that, we have a fantastic STEM education. And being the largest country in the Central and Eastern Europe, we get so much brainpower coming into the workforce every single year that, well, simply put, we're well positioned to build companies like Nautiluka at large in our local ecosystems. And that, I think, is yet unnoticed by the broader economic analysts and observers here. That sounds awesome. So there's a lot of potential here. And you are, are you doing something that's really revolutionizing the whole display industry? Or it sounds like it's imported that? You know, we started with the display industry. Yes, absolutely. And this is where the in-house research started off. But as a publicly listed company, we don't stop there because whether you make the change happen in the display industry is based on many other, I would say, circumstances, like the readiness of these big companies to grow their other market dynamics. So that's why we've branched out to other areas, which I believe can be a game changer going further. We see a lot of interest into the chemical CRO business. For example, because of the rise of AI, you know, you can design any sort of material, any sort of molecule, but at the end of the day, someone has to manufacture it, show that it works in the physical world, not only on the calculation level. And we are these guys. We are the guys who can do that. And we've been doing that for a long time. Are you saying that you could take the AI to figure out new materials and you will check it out if it's a good idea? Yeah. To take it outside of a chemistry context, you can ask AI to design a building, but someone has to build it, make sure that it's safe for people, make sure that it's livable, and you can actually raise such a building from the ground up. So there are more and more companies out there in the world who are using predictive models or AI or however you would name the algorithm to design a new material. But then you need the builders. Then you need to experience people who will tell you, okay, that is theoretically an interesting material, but it won't be scalable. The process of manufacturing this material won't be scalable because I don't know, it's explosive. One part of the journey to get to this material is dangerous for people around. So this sort of expertise with our hands and brains is what we bring to the table there. And maybe Alicia, do you want to say something about the potential, like the opportunities that there are in the job of a chemist? What is it to be a chemist? It's amazing because you honestly just can try, maybe not everything, but almost everything too. If that's really worked, it's that they told you during your studies it's working actually. But for me it is also the possibility to work with other young and really passionate people. It's an amazing opportunity because after my studies I can work in a place where I can develop my skills and reach my knowledge. It's amazing. Sounds great. Maybe you can try it. Can you switch your camera? It seems like on my side it looks like, oh, there you are back. Oh, okay. I don't know if the signal is here in Shenzhen. I've got a bad signal or something. You have pretty fast internet though in your city. Yeah. Absolutely. 5G everywhere. 5G. Yeah. It's probably some kind of issue with my streaming system here or something like that. It looks like Alicia you're getting disconnected a little bit. Oh, okay. Are you on the Wi-Fi? Yes. Okay. And while Alicia is figuring out the network thing it's also fascinating the journey for a company like ours to see that we are being located in the part of the world that was very often disregarded or perhaps wasn't on the map when it comes to high technology development and it was omitted in a certain sense. We can and we are delivering new technologies, high tech solutions and services to the biggest and most advanced multinationals out there. So I think this change is where the magic happens. So as Alicia said, making these materials a reality not just coming straight from university or just after a couple of years into the industry you are working with giants basically, LG's and Samsung and Apple's of this world. And this is something you don't always have an opportunity to experience. Yeah. As a European, I'm so looking forward to see Europe have a bigger and bigger role in the future of technology all from the small tech to the big tech. And it's great to see that you're doing something important, right? That everybody needs what you're doing? Absolutely. And the thing is like Europe and generally the western world to a large extent has lost a battle for a manufacturing pasties of the equipment that we use today. But it doesn't mean that the battle is lost for the future. New devices, new displays or new niche applications can still be produced here. The original thought definitely can come from here whether the manufacturing will stay here or not. That's a big question. We are still in the game, especially if you think about the printing electronics. This promise of a new printed future, flexible and transparent devices and this place is something that we can realize in Europe or in western countries. You don't have to think only of Korea and China as a source of these solutions. When you talk about 100 kg, how many displays are we talking about? Alicia, correct me if I'm wrong but 50-inch TV uses a couple of milligrams of emitter. So even in some cases less than one milligram of emitter, right? Or is it one gram, sorry, less than one gram of emitter. So when we are talking 100 kg, we are talking hundreds or even thousands of TVs, right? So it's hundreds of thousands of TVs, maybe. And how is your material different? Is your competitor somebody like Merck or how does it work? Yes, to a certain extent, yes. Though it seems like Merck has stepped out of the game and sold its patent portfolio to UDC, a company listed on NASDAQ. Basically, in the game for next-generation materials, last year we had two other competitors. This year it seems that we are left with one competitor, which is in Japanese company Killux. And this is what we call a competition or a race for the new generation of materials in the third and fourth generation of materials. While the incumbent and the monopolist for the second generation of materials is the company that I've just named, the Universal Display Corporation. And a third competitor that we had, Sainora, has been bought out by Samsung in the last year, which is an interesting market development. It makes the pool of this market makers and shakers smaller and smaller by the year. And it shows how competitive this market is when it comes to brain power and ideas. Wherever something is good, someone is snatching it out. Some of the big guys are snatching it out. And you have to be extremely precise in the way you purify the material. Is that how it works? Alisha, perhaps I'll give the voice to you. What sort of purity do we get and how do we get there? Alisha, we don't hear your voice, unfortunately. Sorry, I need to get you back. You're muted, but now you're not muted anymore, hopefully. Can you try again? Do you mind trying to reconnect, maybe refresh the browser? You're using the smartphone, right? Sorry, maybe there's some kind of bug or something like that. Let's see if we can get Alisha reconnected. I'm going to play a video for a second while we wait, and then we'll be right back. Noctiluca designs develops in manufacturers next generation emitters for OLED displays at its laboratory in Torun. The company's emitters are, in simple terms, powdered chemical compounds which emit light when exposed to electricity. They are a key component of displays. Such emitters may be used in many devices, TVs, laptops, smartphones, wearables, and many other types of consumer electronics. Noctiluca is a company that doesn't lack an entity. The nearest time for new clients and partners is also the transition to a more advanced and more promising stage of cooperation with current partners. It takes an entire team consisting of experts from fields such as business development, IP protection, research work and production in order for the technologies developed by Noctiluca to succeed commercially. Adequate laboratory facilities are also a necessity. Noctiluca's target market is the industry of chemical materials used in OLED technology, which is entering a stage of market dominance. It is estimated that by 2026 the OLED market will be worth around $73 billion, accounting for 41% of the market for all displays. In the past months, we have increased the production power of our laboratory and we are now able to produce several dozen kilograms of our materials a year. Having such a back, we are building our chemical team and we want to double it in the next year. It is also important to remember that our synthetic work will be done here in Torun, while the research of our materials will be done in our team in Korea. Noctiluca is recognized primarily for its original emitters for OLED displays. Their development is a priority, as this technology is the focus of the world's biggest players. With some of them, Noctiluca has signed contracts, some are already testing the company's solutions. But that's not all Noctiluca is working on. Apart from the development of our own materials to OLED, Noctiluca also conducts a synthesis of the treatment and the service of the researcher as Chemica OCRO. Okay, so basically the purity of the compounds should be like 99,999%. So it's a really pure compound. So it's a challenge not only to create such compounds, but also to purify these compounds. And we're working on it and we're doing our best because it's crucial for this technology to use the purest compounds as possible. How does it work? Yeah, and there are several methods of purification just so you know. Again, Alicia, you're the expert here, but there are a number of purification methods, right? Yeah, of course. It's basically one of the methods actually is part of our other, I would say, lack of the companies because sublimation process is also something which we use during our purification process. And that was the inspiration to use it, not only for our compounds, but also for our clients. But of course, crystallization. I don't want to just give you too much details, but that's a lot of different techniques and we must know all of them because we never know which one will be the best for the compound, which we want to purify. Nicholas, you... Sorry, please go ahead. Sorry, go ahead. Don't worry. Are you like these alchemists who have the secret recipe? Yeah, I can say that's partially true. Of course, we cannot reveal our secrets, so we are kind of alchemists. Yeah, that's something nice to say because for us it's something like magic sometimes because it's so cool and satisfying that, yeah, we can say that. Is it the coolest job for a chemist? I would say yes because you can totally use your brain to just create something new, something which is working, actually is working in your phones, in your TVs. So, yeah, I would say it's really satisfying and I would say the coolest job which I can have after my studies. Are there a lot of brilliant chemists in Poland? Are they all working in your building? No, but we're trying to take the most talented people and just bring them here so we can create the technology on the top of tops. So, yeah, it's something like this. But yes, we are hiring, by the way, so if any one of you guys feel like taking on the challenge of making it in the display industry, we are absolutely hiring. We hire across Europe. We also have some people from Korea coming. We would love to have some people with Japanese or Chinese origin as well so that all the mindsets, all the different approaches to chemistry and to the industry are represented within our walls. What are the opportunities for chemists like in the world? You can do stuff that has to do with industry or stuff that has to do with medicine or stuff that has to do with technology. Is that right or how does it work? Yeah, basically we are working in technology, just like you said but also of course medicine because all drugs are organic compounds so of course it's very important to hire chemists. But also agriculture, I would say the chemistry is everywhere. So in a food, in a medicine, I would say chemists always find a job in their life if they want, of course. But it's also a challenging job so you need to be really, really focused on this topic to be good in your field. Absolutely, only the best can make it. And speaking of the best, Nikolas, I believe you just came from Los Angeles from Display Week, right? We just missed you there. I've seen you around filming very cutting-edge technologies there. It seems that OLED and micro LEDs are all that the markets is all about these days, right? Yeah, and there's quantum dots, right? But there's also always the LCD trying to find a way... Keep its relevance, yeah. Keep competing with the new technologies and bringing all kinds of new... How did you like the Display Week? So we went this year with a completely different mindset to Display Week. We went to Display Week to have meetings with our existing partners and perhaps build new bridges with new partners. So we didn't have an exhibition space, we just rented a meeting room and we've been booked from dusk till dawn, really. And it was a very successful Display Week for us, definitely. Dozens of meetings with either partners or potential clients. But also we've met with people who were broadening our horizon. Every single company in the display industry, and there are a few hundreds of them working on different components, are working in their labs, on their technology for the whole year. And Display Week is actually a great place to compare notes, to inspire one another, see what's happening in the adjacent layer of the stack or on the testing or analytical side of things, so that we can come together and take another wave of change for the next year. And to that extent I think it was a great event and I recommend everyone who wants to be a part of this journey, this development to join Display Week, because you get a view into the space on every single level. You get the device guys, of course, the tried and tested applications like TV and smartphones, but you also get holograms, you get most advanced VR headsets there. You get TV dashboards and wearables and even lighting sometimes applications. And that's only the application and the final device side. And then you go into components. You see that some places are moving faster than the others. There are competing types of technology that over time, they find their niches and applications. Some of the technologies that we mentioned like OLED or micro LEDs, they found their niches and they're growing within that niches. And yeah, that's just a perfect place to get the right touch and feel of where the market is going. So I don't know how about yourself, but I enjoyed Display Week very much this year. Maybe Alicia, maybe you can try to go sit next to Matarosh and we can share one screen because it seems that maybe I don't know if it's your internet when you have multiple screens that get slower a little bit on your side. But is it true that maybe you can keep your headphones on on the other and then I'll just grab only your sound but from one camera? And so is it true that the way it works at the Display Week is that people are sharing all the knowledge, the latest and stuff and when you file patents, it's not a secret anymore, right? People are not trying to steal secrets from each other. They're just trying to get updated what's happening and what's possible to partner with these guys, partner with those guys and get to get things done, right? Absolutely. You can hear. Just making sure of that. So absolutely, if you want to build advanced technology, you cannot do it in a vacuum. You always have to collaborate and there is absolutely no intention and I've never felt it at any level of interaction with either small or large companies in that ecosystem that there is some malicious intent there. It's to make leapfrogs, not just 5% improvements, you need to share ideas. You need to bounce from one another. And sometimes it's good to talk to a, I don't know, physicist, not only chemist or to some IT guys who are also working on algorithms that are designing new materials. So, yes, absolutely. I guess for you it must be fun to know that you shipped 7 kilograms to that customer and he's from the other side of the world and you get to meet the guy face to face and say, oh my God, what do you do with all our kilograms? Stuff like that? Yeah, especially after COVID, it was interesting because we were working with different partners and so on, but we've met them only through emails and it's a unique time to also rekindle with people there. So yeah, I think it's a unique space and also when you're in a lab you're focused on getting your daily tasks, your weekly objectives or your quarterly objectives done. But when you go there, you just are taken away from this day-to-day operation and you can focus on a big picture. And these are sometimes very surprising conversations that sometimes we don't allow ourselves to have on a daily basis. And this is also a huge strength of Display Week that we can meet people that are experts in their domain, but they're also in this mindset that day-to-day has been left behind and now we're talking big and futuristic sometimes even ideas. So yeah, I think Nicholas, this is the update from us after a year. I would love to see you at some point in Poland, of course. If you're passing through, if you are in one place for longer than a week, give us a shout out. Right now it's China, right? Yeah, it's China for, I'm not totally sure exactly how long, but then going back to Europe, the birthplace of Europe. I'm just joking. Yeah, cool. All right, this is awesome. Thanks a lot for doing this remote video chat update. Thanks a lot. And yeah, let's keep changing the world one day at a time. Thanks a lot, guys. Cool. Thanks for changing the world, by the way. It's really cool. Okay. Thanks a lot.