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OLEDWorks and Universal Display Corp announce OLED technology license agreement

This new collaboration will help pave the way for expanding the US OLED solid-state lighting ecosystem

19 Feb 2015 | Editor

Universal Display Corp. and OLEDWorks LLC recently announced the signing of a new OLED Technology License Agreement.

Under the agreement, Universal Display has granted OLEDWorks non-exclusive license rights, under various patents owned or controlled by Universal Display, to manufacture and sell phosphorescent OLED lighting products. In return, OLEDWorks will pay Universal Display an upfront license fee and running royalties on its sales of these licensed products. The agreement runs for the life of Universal Display’s intellectual property rights.

David DeJoy, Chief Executive Officer of OLEDWorks, said, "We are confident that our partnership with Universal Display Corporation will help drive sustainable advancements in OLED performance and acceleration of OLED acceptance in the solid-state lighting industry. Combined with our innovative OLED panel production system, OLEDWorks is now singularly poised to deliver on OLED lighting’s unique value proposition." David added, "OLEDWorks is dedicated to developing technology partnerships that emphasise our commitment to producing affordable and innovative OLED lighting solutions which meet the needs of our customers."

OLED lighting offers manufacturers a potential low-cost solid-state lighting solution that can be extremely thin and lightweight. Universal Display is committed to enabling and further advancing the OLED industry with its proprietary energy-efficient OLED technology and phosphorescent materials. UDC’s PHOLED offers up to four times the efficiency of conventional OLED technology – a feature that is critical for high-performing, energy-efficient lighting. Through the use of UniversalPHOLED phosphorescent OLED technology, OLED lighting should reduce energy consumption and lower the amount of by-product heat, further reducing energy and environmental burdens.

Source; OLEDWorks/Universal Display

www.oled.com    www.oledworks.com   

About Universal Display Corp

Universal Display Corporation (Nasdaq: OLED) is a leader in developing and delivering state-of-the-art, organic light emitting diode (OLED) technologies, materials and services to the display and lighting industries. Founded in 1994, the Company currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 3,500 issued and pending patents worldwide.

Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED phosphorescent OLED technology, that can enable the development of low power and eco-friendly displays and lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training.

Source: Universal Display Corp

About OLEDWorks

OLEDWorks is a leader in the development and production of affordable and innovative organic light-emitting diode lighting solutions. Founded in 2010, OLEDWorks has built its production methodology on a novel system that delivers competitive and cost-effective OLED solid state lighting panels, while simultaneously offering flexibility and responsiveness.

OLEDWorks was founded by many of the original pioneers in the OLED industry, giving OLEDWorks the unique OLED production experience and insight into manufacturing strategies specifically tailored to lighting. OLEDWorks applies its more than 200 person years of collective industry experience in OLED technology to making the most advanced and cost effective solutions in OLED lighting.

Headquartered in Rochester, N.Y., where OLED was discovered, OLEDWorks is the only U.S.-based OLED light engine and panel manufacturer, and has become the dependable domestic source for OLED lighting solutions.

Source: OLEDWorks

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