| The Advanced Electronic Materials (AEM) business of The Dow Chemical Company and MicroEmissive Displays Ltd. (MED) announced today that the companies have signed an agreement for the supply of commercial quantities of LUMATION Light-Emitting Polymers (LEPs) for MED’s polymeric light-emitting diode (pLED) microdisplay modules. Although the agreement’s specific terms were not made public, the multi-year deal provides a simple and beneficial pricing structure wherein Dow receives a percentage of MED’s display module sales in exchange for LEP material supply. “This supply agreement, with its novel pricing mechanism, is a major milestone for our LUMATION LEPs business,” said Rob Spurling, business director of the Dow AEM Display Technologies Group. “Opening more applications to pLED displays requires continued developmental expenditures to extend LEP materials performance. However, because very little LEP material is required per display, and this volume decreases as fabrication processes improve, a non-traditional pricing approach is required.” As a leader in LEP development and commercialisation, Dow has ongoing development programs with a number of pLED display manufacturers, including MED. “Through this agreement, we are enhancing our commitment to MED’s success by sharing in the technology and market risk of this emerging industry,” said Spurling. “This pricing model squarely aligns Dow’s focus with MED’s market success, providing our company several benefits,” said Bill Campbell, chief executive officer of MED. “It allows us to address supply chain pricing pressure as our end markets become more competitive. By automatically adjusting our polymer pricing as changes occur in the market pricing of our display products, it will free us to pursue a variety of market opportunities and applications to further build our microdisplay products and technology,” Campbell said. LEPs are the critical light-emitting material in pLED displays, which are one class of organic light-emitting diodes (OLEDs). pLED technology produces bright, high-contrast, low-voltage emissive displays, providing many advantages over incumbent display technologies, such as traditional liquid-crystal displays (LCDs). The first red, green, blue and white LUMATION LEPs are now available, enabling the manufacture of monochromatic and first-generation area and full-color pLED displays. The AEM business of The Dow Chemical Company provides a portfolio of materials and technologies to support customer innovation in the electronics industry. Leveraging its highly qualified scientists, world-class research and manufacturing facilities, and extensive intellectual property, AEM develops and commercializes advanced material science solutions. The AEM business is dedicated to the development of high-performance materials for next-generation displays and semiconductor fabrication. Dow is a leading science and technology company that provides innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of $28 billion, Dow serves customers in more than 170 countries and a wide range of markets that are vital to human progress, including food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of Sustainable Development, Dow and its approximately 50,000 employees seek to balance economic, environmental and social responsibilities. |