OLEDWorks LLC, Universal Display Announce OLED License Agreement for Lighting Applications

Universal Display and OLEDWorks LLC, the leading U.S. OLED light engine and panel manufacturing company, announced the signing of a new OLED Technology License Agreement. Under the agreement, Universal Display has granted OLEDWorks non-exclusive license rights, under various patents owned or controlled by Universal Display, to manufacture and sell phosphorescent OLED lighting products.
 
In return, OLEDWorks will pay Universal Display an upfront license fee and running royalties on its sales of these licensed products. The agreement runs for the life of Universal Display’s intellectual property rights.
 
“We are confident that our partnership with Universal Display Corporation will help drive sustainable advancements in OLED performance and acceleration of OLED acceptance in the solid-state lighting industry. Combined with our innovative OLED panel production system, OLEDWorks is now singularly poised to deliver on OLED lighting’s unique value proposition,” said David DeJoy, CEO of OLEDWorks.
 
“We are pleased to forge a relationship with OLEDWorks, an entrepreneurial company leading the way to manufacture OLED lighting products in the United States,” said Steven V. Abramson, president and CEO of Universal Display. “Instrumental to both OLEDWorks and UDC’s early stage efforts was the Department of Energy’s Solid State Lighting initiative, and we expect this new collaboration will help pave the way for expanding the U.S. OLED solid-state lighting ecosystem.”
 
UDC’s PHOLED offers up to four times the efficiency of conventional OLED technology – a feature that is critical for high-performing, energy-efficient lighting. Through the use of UniversalPHOLED phosphorescent OLED technology, OLED lighting should reduce energy consumption and lower the amount of by-product heat, further reducing energy and environmental burdens.