CANANDAIGUA, N.Y. & EWING, N.J.--(BUSINESS WIRE)--Moser Baer Technologies Inc., a U.S. subsidiary of Moser Baer India
Ltd., and Universal Display Corporation (NASDAQ: PANL), enabling
energy-efficient displays and lighting with its UniversalPHOLED®
technology and materials, today announced that the two companies have
agreed to terms of a Memorandum of Agreement for technology licensing,
material supply and technology assistance to support Moser Baer
Technologies’ initiatives in white OLED lighting. This agreement follows
a program that the two companies announced last year in which the
companies received $4,000,000 from the U.S. Department of Energy to
design and build the first white OLED lighting pilot manufacturing
facility in the United States.
“Our existing capabilities and asset base for high speed substrate
manufacturing are our strengths being leveraged as we take our initial
steps in the Solid State Lighting space, with significant potential in
the U.S., Indian, and other global markets”
Under the agreement, Moser Baer Technologies will license Universal
Display’s proprietary PHOLED and other OLED technologies and purchase
Universal Display’s highly energy-efficient UniversalPHOLED materials
for white OLED panel manufacturing. Moser Baer Technologies and
Universal Display will also work together in a five-year program to
support Moser Baer’s manufacture of white PHOLED lighting products.
The establishment of Moser Baer Technologies’ pilot manufacturing
facility is a key next step in the development of a manufacturing base
and market for white OLED lighting products in the U.S. The resulting
panels will be made available to luminaire manufacturers to help seed
the market for a range of new white OLED lighting products in the $90
billion lighting market.
“We are very pleased to further strengthen our partnership with Moser
Baer Technologies,” said Steven V. Abramson, President and Chief
Executive Officer of Universal Display. “This Memorandum of
Agreement will accelerate the development and manufacturing of
phosphorescent OLED lighting panels by Moser Baer, a world leader in the
development of low cost, high volume manufacturing facilities. Universal
Display’s PHOLED technology and materials provide excellent performance
characteristics that translate into energy savings, environmental
benefits and cost effectiveness. Those benefits are key to enabling the
manufacture of highly-efficient white OLED lighting products by
companies such as Moser Baer Technologies.”
“The global lighting industry is going through a major transformation
with the advent of solid state lighting options. The Moser Baer Group
brings several years of experience in light management and substrate
manufacturing technologies which are suitable for OLED lighting devices.
We plan to use Universal Display’s superior PHOLED emitter materials and
technology in combination with our substrate technology competencies and
develop integrated, high-volume manufacturing concepts for OLED lighting
products of the future. We are pleased to be working with Universal
Display through this agreement which covers Universal Display’s
phosphorescent OLED technology license to Moser Baer Technologies,
access to Universal Display’s leading edge PHOLED materials and a
multi-year technology support program for Moser Baer Technologies to
commercialize OLED lighting products,” said Dr. G. Rajeswaran, CEO of
Moser Baer Technologies and Group CTO of Moser Baer India Ltd. He
further added, “We are confident that with our extensive capabilities in
low cost/high throughput manufacturing, we will be able to industrialize
this technology at competitive cost points.”
“Our existing capabilities and asset base for high speed substrate
manufacturing are our strengths being leveraged as we take our initial
steps in the Solid State Lighting space, with significant potential in
the U.S., Indian, and other global markets,” added Yogesh Mathur,
Director, Moser Baer Technologies and Group CFO, Moser Baer India Ltd.
The joint DOE program between Moser Baer Technologies and Universal
Display is part of the DOE’s long-term commitment to advancing the
development and introduction of energy-efficient white OLED lighting
sources for general illumination. PHOLED technology is expected to play
a critical role in the development and deployment of OLED solid state
lighting technology, which offers increased energy efficiency, decreased
power consumption, and an environmentally friendly alternative to
traditional incandescent and compact fluorescent light bulbs. 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.
Moser Baer Technologies, Inc.
Moser Baer Technologies is the U.S.-based subsidiary of Moser Baer
India, Ltd., headquartered in New Delhi, and one of India's leading
technology companies. Established in 1983, Moser Baer India is the
world's second largest manufacturer of recordable Optical Storage media
like CDs, DVDs and Blu Ray discs. They are also a major producer of
solar photovoltaic technologies, consumer electronics, home
entertainment and are in the business of IT Peripherals. Moser Baer has
a presence in over 92 countries, and services through six marketing
offices in India, the US, Europe and Japan. Moser Baer Technologies is
the company's first U.S. based manufacturing operation and will be the
first OLED manufacturing line for lighting in the United States. Moser
Baer currently has over 6,000 full-time employees worldwide. For more
information, visit http://www.moserbaer.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 Corporation, Chimei Innolux 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, 2009.
Universal Display Corporation disclaims any obligation to update any
forward-looking statement contained in this document.
Contacts
For Moser Baer Technologies
Abhinav Kanchan, Head, Corporate
Communications, 91-11-40594444
Abhinav.kanchan@moserbaer.in
or
Balaji
Krishnaswami, Media Contact, 91-9971757474
balaji.krishnaswami@moserbaer.in
or
For
Universal Display Corporation
Media contact:
Gregory FCA
Communications
Matt McLoughlin, 610-228-2123
matt@gregoryfca.com
or
Investor
contact:
Joe Hassett, 610-228-2110
joeh@gregoryfca.com
or
Universal
Display Corporation
Dean Ledger, 800-599-4426