Universal Display Corporation (NASDAQ: PANL), enabling energy-efficient displays and lighting with its UniversalPHOLED™ technology and materials, today announced that the company, along with Moser Baer Technologies, has been awarded $4,000,000 for a two-year program from the United States Department of Energy (DOE) under the American Recovery and Reinvestment Act of 2009 for a program titled “Creation of a U.S. Phosphorescent OLED Lighting Panel Manufacturing Facility.”
Under the new program, Universal Display will demonstrate the scalability of its proprietary UniversalPHOLED technology and materials for the manufacture of white OLED lighting panels that meet commercial lighting targets. Moser Baer Technologies, a U.S. subsidiary of Moser Baer India, will design and build the U.S.-based pilot facility during this program.
Demonstrated to provide up to a four times improvement in energy efficiency, UniversalPHOLED technology and materials have become a key element for OLED displays and lighting products in the market and those under development. Through their use, power-efficient white PHOLEDs have the potential to significantly reduce energy consumption, environmental impacts and white lighting costs.
“This new U.S. DOE program represents a very important step towards the establishment of high-volume manufacturing of white OLED lighting panels in the U.S.,” stated Steven V. Abramson, President and Chief Executive Officer of Universal Display. “We are delighted to have this opportunity to team with Moser Baer Technologies, with its experienced leadership in manufacturing of thin-film, high-volume products. By combining our highly-efficient UniversalPHOLED technology and materials with Moser Baer Technologies’ proprietary manufacturing technology, we believe that the new pilot facility can demonstrate a cost-effective route to high-volume production of energy-efficient and environmentally-friendly white OLED lighting products, which in turn can serve as a basis for new manufacturing investment and job growth in the U.S.”
Universal Display is the recognized leader in phosphorescent OLED technology and materials. With a comprehensive patent and know how portfolio that covers these and other OLED technologies broadly on a worldwide basis, Universal Display has developed a series of proprietary, phosphorescent emitter products that offer state-of-the-art performance for displays and lighting products.
This two-year program 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. White OLED lighting is viewed as a technology that can introduce highly-efficient, innovative lighting solutions to reduce the global carbon footprint of residential and commercial lighting. 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.