Program aims to develop technology for low power, “rollable” displays for future military and commercial applications
EWING, N.J.--(BUSINESS WIRE)--Universal Display Corporation (NASDAQ:PANL), an innovator behind today
and tomorrow’s displays and lighting products
through its Universal PHOLED™ phosphorescent
OLED technology, announced today that the Company has been awarded a
Small Business Innovation Research (SBIR) Phase I grant for $99,978 from
the U.S. Air Force Research Laboratory to develop its flexible OLED
display technology for “rollable”
applications. The ultimate goal of this U.S. Air Force program is to
develop lightweight, rugged, low power displays that can replace printed
paper maps on pilots’ knees and be rolled up
for stowage when not in use. Rollability is also important for a variety
of novel commercial applications, including the Company’s
concept Universal Communication Device.
“We are excited to continue the research and
development of flexible and rollable OLED technology –
an idea that is moving quickly from being a vision to becoming a reality”
Under the terms of this nine-month Phase I grant, Universal Display and
its partner, L-3 Display Systems, will provide the U.S. Air Force with
an initial design and mock-up of a low-power consumption, full-color,
video-rate OLED display that can be rolled around a cylinder for
stowage. If successful, Universal Display would then propose a follow-on
Phase II program to deliver six-inch diagonal, 480 x 480 full-color,
active matrix PHOLED display prototypes that would be built on metallic
foil to be flexible enough to wrap around a 2.5 inch diameter cylinder
containing the power supplies and wireless communication electronics.
“We are excited to continue the research and
development of flexible and rollable OLED technology –
an idea that is moving quickly from being a vision to becoming a reality,”
said Steven V. Abramson, President and Chief Executive Officer of
Universal Display. “The U.S. Air Force as
well as other branches of the U.S. Department of Defense have been
strong supporters of our flexible OLED technology. Also offering
thinness, light weight and ruggedness, rollable displays may
revolutionize the way soldiers view information on the battlefield and
in the cockpit. This program should also support our efforts to
commercialize FOLED technology for a variety of novel consumer
applications.”
Beyond current military concepts, flexible OLED displays are considered
the next potential disruptive technology for several industrial,
consumer and medical applications, such as in automobiles, cell phones
and personal electronic devices. DisplaySearch, the worldwide leader in
display market research and consulting, has projected that the worldwide
market for flexible displays has the potential to grow to $4 billion in
2015. Companies like Universal Display are introducing key advances in
OLED technology that will bring flexible displays closer to
commercialization.
To see how Universal Display Corporation is changing the face of the
display industry, please visit the Company at www.universaldisplay.com.
About L-3 Display Systems
L-3 Display Systems, located in Alpharetta, Georgia, specializes in the
design, development and manufacture of ruggedized display systems for
the world’s most advanced applications. L-3
Display Systems offers a wide variety of displays and processors
available to meet a host of system architectures for airborne, shipboard
and ground-based applications. To learn more about L-3 Display Systems,
please visit the company’s web site at www.L-3Com.com/Displays.
About Universal Display Corporation
Universal Display Corporation is a world leader in developing and
commercializing innovative OLED technologies and materials for use in
flat panel displays, solid-state lighting products, electronic
communications and other opto-electronic devices. Universal Display is
working with a network of world-class organizations, including Princeton
University, the University of Southern California, the University of
Michigan, and PPG Industries, Inc. Universal Display has also
established numerous commercial relationships with companies such as Chi
Mei EL Corporation, DuPont Displays, Inc., Konica Minolta Technology
Center, Inc., LG Display Co., Ltd., Samsung SDI Co., Seiko Epson
Corporation, Sony Corporation, Tohoku Pioneer Corporation and Toyota
Industries Corporation. Universal Display currently owns or has
exclusive, co-exclusive or sole license rights with respect to more than
825 issued and pending patents worldwide.
Universal Display is located in the Princeton Crossroads Corporate
Center in Ewing, New Jersey, minutes away from its research partner at
Princeton University. Universal Display’s
state-of-the-art facility is designed to further technology and
materials development, technology transfer to manufacturing partners and
work with customers to develop OLED products that meet their needs.
Visit Universal Display on the Web at www.universaldisplay.com.
All statements in this document that are not historical, such as
those relating to Universal Display Corporation’s
technologies and potential applications of those technologies, are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. You are cautioned not to place undue
reliance on any forward-looking statements in this document, as they
reflect Universal Display Corporation’s
current views with respect to future events and are subject to risks and
uncertainties that could cause actual results to differ materially from
those contemplated. These risks and uncertainties are discussed in
greater detail in Universal Display Corporation’s
periodic reports on Form 10-K and Form 10-Q filed with the Securities
and Exchange Commission, including, in particular, the section entitled “Risk
Factors” in Universal Display Corporation’s
annual report on Form 10-K for the year ended December 31, 2007.
Universal Display Corporation disclaims any obligation to update any
forward-looking statement contained in this document.
Contacts
Universal Display Corporation
Dean Ledger, 800-599-4426
or
Gregory
FCA Communications
Investor contact:
Paul Johnson,
610-642-8253, ext. 115
paul@gregoryfca.com
or
Media
contact:
Matt McLoughlin, 610-642-8253, ext. 129
matt@gregoryfca.com