EWING, N.J.--(BUSINESS WIRE)--Universal Display Corporation (NASDAQ: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, and Kaneka Corporation, a leading chemical manufacturing conglomerate, today announced the signing of a new OLED Technology License Agreement. Under the agreement, Universal Display has granted Kaneka license rights, under various patents owned or controlled by Universal Display, to manufacture and sell phosphorescent OLED lighting products.
“We are pleased to enter into the next phase of our relationship with Kaneka as they build out their lighting portfolio using our proprietary highly energy efficient phosphorescent OLED technology and materials,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display. “As one of the world’s leading chemical makers, we are encouraged that Kaneka is fostering the development of high performance solid-state OLED lighting. We look forward to working with Kaneka to advance energy-efficient and environmentally friendly OLED products into the marketplace.”
According to the International Energy Agency, lighting represents almost 20% of global electricity consumption. OLED lighting offers manufacturers a low-cost lighting solution and the potential for extremely thin, lightweight and highly energy efficient lighting products. Universal Display’s phosphorescent OLED technology and materials have the potential to maximize energy efficiency in lighting applications.
