Leadership Shift at Helio Display Materials

Simon Jones, previously CEO, and Mark Verrall, previously chairman, have recently announced their decision to step down from their respective roles at Helio Ventures. This move comes as a surprise to many in the industry, as both Jones and Verrall have been instrumental in the company's growth and success over the years.

Prior to founding Haylo Ventures, Hayes was the CEO at AR waveguide company Wave Optics Ltd. based in Oxford, England. During his tenure, he successfully transitioned the organization from an R&D-centric focus to a more product-oriented business model. Wave Optics' achievements did not go unnoticed, as the company was eventually acquired by Snap Inc., the parent company of SnapChat, for a staggering sum exceeding US$500 million in May 2021. The extent of Haylo Ventures' involvement in this acquisition remains undisclosed.

Helio, originally established in 2016 as Heliochrome Ltd., was founded by Professor Henry Snaith from Oxford University and Professor Sir Richard Friend from Cambridge University. The company has been at the forefront of developing metal-halide perovskite materials as alternatives to existing technologies such as quantum dots, OLEDs, and direct band-gap materials for displays. The primary goal has been to create displays that are not only brighter but also more energy-efficient.

While the technology holds promise for displays of all sizes, Helio Ventures has strategically chosen to concentrate on microdisplays under a partnership with Haylo Ventures. This decision is driven by the fact that the current technology in the microdisplay sector lacks the benefits of economies of scale. Hayes expressed his confidence in the team's ability to deliver innovative solutions, stating, "I am extremely impressed by what the Helio team has already demonstrated, and I believe that Helio’s perovskite platform has unique potential to meet the very high brightness and resolution requirements for micro displays."

Helio has recently made significant progress by moving to pilot-scale production of perovskite materials in the first quarter of 2024 to facilitate product development and qualification by customers. Hayes acknowledged the contributions of Simon and Mark, expressing gratitude for their dedication and hard work in advancing Helio to its current stage of development.