White Phosphorescent OLED Lighting Technology to Be Integrated into
“Under Cabinet” Illumination System as Part of the DOE’s Solid State
Lighting Program
EWING, N.J.--(BUSINESS WIRE)--Universal Display Corporation (NASDAQ: PANL), an innovator behind
today’s and tomorrow’s displays and lighting through its
UniversalPHOLED™ phosphorescent OLED technology and materials, today
announced that the company has been awarded a $1.65 million, two-year
contract from the U.S. Department of Energy (DOE) to demonstrate a thin,
highly-efficient, white OLED lighting concept for under-cabinet
applications. This program builds on Universal Display’s past and
current work with the DOE under its Solid State Lighting Program.
“While we continue technology development toward the U.S. DOE 2015
targets for general illumination, the performance of our white PHOLED
devices may already satisfy the requirements of a variety of specialty
lighting applications”
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Under terms of the contract, Universal Display will deliver a set of
under-cabinet lighting units to the DOE. Each unit will consist of five
6” x 6” white PHOLED lighting panels that are based on the company’s
high-efficiency, phosphorescent OLED technology and materials. The units
will be designed to provide comparable performance to existing
under-cabinet systems, have a system efficiency of > 60 lumens per watt,
and exhibit a significantly thinner form factor than conventional
under-cabinet lighting products currently in the market. This thin form
factor has the potential to expand the array of possible under-cabinet
lighting design concepts and to simplify product installation.
“While we continue technology development toward the U.S. DOE 2015
targets for general illumination, the performance of our white PHOLED
devices may already satisfy the requirements of a variety of specialty
lighting applications,” said Steven V. Abramson, President and Chief
Executive Officer of Universal Display. “The next important step is to
identify and demonstrate new lighting product concepts that leverage
these energy-efficient, environmentally-friendly and very thin OLED
light sources. This proposed under-cabinet lighting fixture represents
an exciting, early-stage practical application for white OLED lighting
for both consumer and commercial markets.”
This is the second potential commercial lighting application in
development by Universal Display. In 2008, the Company began working
with Armstrong World Industries on a ceiling-based OLED lighting system,
also supported, in part, through the DOE Solid State Lighting Program.
The DOE has made a long-term commitment to advance the development and
introduction of energy-efficient white lighting sources for general
illumination. According to industry estimates, electric bills for
lighting alone are over $200 billion per year on a worldwide basis. It
has been estimated that by 2016, white OLEDs could generate well over
$20 billion in worldwide savings of electricity costs and could save
over nine million metric tons of carbon emissions from the U.S. alone.
To see how Universal Display is changing the face of the display and
lighting industries, please visit the Company at www.universaldisplay.com.
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 Mobile Display Co, Ltd.,
Seiko Epson Corporation, Sony Corporation, Tohoku Pioneer Corporation
and Toyota Industries Corporation. Universal Display currently owns or
has exclusive or sole license rights with respect to more than 960
issued and pending patents worldwide.
Universal Display is located in the Princeton Crossroads Corporate
Center in Ewing, New Jersey. 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.
Forward-Looking Statements: 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, 2008, as amended. Universal Display Corporation
disclaims any obligation to update any forward-looking statement
contained in this document.
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Universal Display Corporation
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