Novares acquires 20% of APAG-CoSyst

By Graeme Roberts | 12 September 2018

The Novares Venture Capital (NVC) Fund has acquired a stake of 20% in APAG Holding to develop Novares' integrated lighting and mechatronics devices and other products.

NVC was started in February 2018 to support innovation and start-ups with technical expertise in sectors contributing to Novares products such as plastronics and mechatronics.

The slice of APAG Holding followed a first investment in April in FlexEnable which develops glass free flexible displays, and a letter of intent in June to take part in Actronika's ongoing roundtable. That firm specialises in integrating of haptic technology into smart surfaces.

Swiss APAG-CoSyst designs, develops, and produces electronic control units (ECUs) and LED lighting modules. APAG-CoSyst products of intyerest to Novares are actuator control, sensor data processing, multi-function gateways, exterior accent lighting, and small interior peripheral functional and aesthetic lighting.

The equity injection, via an issue of new shares, will be used for more innovation and to finance a new factory in North America and extend the Czech Republic plant.

Novares products will include APAG's lighting for complete sub-systems such as illuminated interior and exterior handles, interior trims and air vents.

Mid term plans mechatronics components drive controls such as smart surfaces, screens, cameras, sensors and actuators.

Development of controls for flexible displays and external camera systems to replace exterior mirrors is one possibility.