Universal Display Corporation and Panasonic Idemitsu Sign Joint OLED Agreement

Aug 30, 2011
Universal Display Corporation (Universal), manufacturer of efficient and high-performance UniversalPHOLED® technology, has entered into a technology license agreement with Panasonic Idemitsu OLED Lighting Co., Ltd. (Panasonic). Terms of the joint venture include Universal supplying UniversalPHOLED® phosphorescent and other OLED technologies into OLED lighting products. 

Steven V. Ambramson, President and CEO of Universal expects the collaboration between the two companies will make them "a leading player in the commercialization of OLED lighting." 

Universal has also agreed to share various patents it owns for Panasonic to use to manufacture and sell OLED lighting products. In exchange, Universal receives running royalties on sales from these products; meanwhile, there is a separate material supply agreement with both lasting through July 31, 2014. 

OLEDs have been known as an "energy-efficient, environmentally-benign and design-friendly" lighting products. What sets Universal's phosphorescent OLED technology apart from others is its four-to-one power advantage, leading record-setting OLEDs. Advances in OLEDs have met several niche lighting performance targets and show the potential to meet general lighting targets set by the U.S. Department of Energy. 

Press Release:
http://www.universaldisplay.com/downloads/Press%20Releases/2011/08.29.11%20UDC%20Announces%20Agreement%20with%20PIOL%20for%20OLED%20Lighting%20Products.pdf

Universal Display Company website:
http://www.universaldisplay.com/

Picture:
http://www.letsgodigital.org/images/topicimages/786/786.jpg

Author:  Rebecca Milne

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