Company’s progress in white OLED lighting performance toward DOE’s
commercial targets recognized at annual Solid-State Lighting Workshop
EWING, N.J.--(BUSINESS WIRE)--Universal Display Corporation (NASDAQ: PANL), enabling energy-efficient
displays and lighting with its UniversalPHOLED™ technology and
materials, today announced that the company has been honored by the U.S.
Department of Energy (DOE) for its advances in white OLED lighting
performance. The company was recognized during ‘Transformations in
Lighting’, the DOE’s annual Solid-State
Lighting (SSL) Workshop, held February 2-4 in Raleigh, NC.
“The Department of Energy is pleased to recognize the Universal Display
research team for their breakthrough achievements in 2009”
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Dr. James Brodrick, Lighting Program Manager, U.S. Department of Energy,
recognized Universal Display for achieving significant advances in 2009
in its white OLED power efficiency through its UniversalPHOLED
technology and materials. Universal Display has been focusing on further
increasing the efficiency and lifetime of its white PHOLEDs, as well as
scaling its record-breaking, research-scale PHOLED results (typically
reported on pixels approximately 2 mm x 2 mm in size) to
commercial-sized, 15 cm x 15cm panels. Toward this goal, the company
demonstrated a 68 lm/W white OLED lighting device, 5 cm x 5 cm in size,
in 2009.
“The Department of Energy is pleased to recognize the Universal Display
research team for their breakthrough achievements in 2009,” noted James
Brodrick, Lighting Program Manager, U.S. Department of Energy.
“Universal Display is driving advances in OLED technology and
manufacturing processes that will make OLED lighting a cost-effective,
energy-saving alternative for general lighting applications. Their
efforts – and those of many other lighting research partners – will
support the United States as a global leader in this rapidly evolving
technology.”
The DOE supports solid-state lighting research and development to
accelerate market introduction of high-efficiency, high-performance SSL
products. Through the use of Universal Display’s PHOLED technology,
power-efficient white OLEDs have the potential to reduce energy
consumption dramatically and to lower the amount of by-product heat,
which creates additional energy and environmental burdens. The DOE has
stated that white OLEDs could save well over 3.48 quads of energy (NCI,
2006), or $26.6 billion in electric costs (EIA, 2007) and approximately
103 million metric tons of carbon in the U.S. in 2027.
“It is an honor to be recognized again this year by the U.S. DOE, and we
appreciate the Department’s continued support of our white OLED lighting
program,” said Steven V. Abramson, President and Chief Executive Officer
of Universal Display. “Our proprietary UniversalPHOLED technology and
materials continue to drive energy efficiency and performance advances
for displays and lighting. Through our efforts to scale our PHOLED
technology and materials for larger-sized panels, we are making
significant headway toward commercial readiness for white OLED lighting
products.”
To see how Universal Display Corporation 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 (Nasdaq: PANL) is a leader in developing
and delivering state-of-the-art, organic light emitting device (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
1,000 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 white 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.
Based in Ewing, New Jersey, Universal Display works and partners with a
network of world-class organizations, including Princeton University,
the University of Southern California, the University of Michigan, and
PPG Industries, Inc. The company has also established relationships with
companies such as AU Optronics, 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, Showa Denko K.K., and Tohoku Pioneer Corporation. To learn
more about Universal Display, please visit www.universaldisplay.com.
Universal Display Corporation and the Universal Display logo are
trademarks or registered trademarks of Universal Display Corporation.
All other company, brand or product names may be trademarks or
registered trademarks.
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.
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, 610-228-2113
paul@gregoryfca.com
or
Media
contact:
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