Lumiotec licenses Universal Display’s OLED technology

Lumiotec and Universal Display Corp. (UDC, Nasdaq:PANL), based in Ewing, NJ, have announced that they have entered into an OLED technology license agreement. According to the agreement, Lumiotec will be licensed to integrate UDC’s proprietary UniversalPHOLED phosphorescent and other OLED technologies and materials into Lumiotec’s OLED lighting products. Lumiotec Inc., based in Yamagata, Japan, was founded in 2008 by Mitsubishi Heavy Industries, Ltd., Rohm Co., Ltd., Toppan Printing Co., Ltd., and Mitsui & Co., Ltd. to develop, manufacture and sell OLED lighting panels.

“We are pleased to be ready for world’s first mass production of high-efficiency OLED lighting panels through collaboration with Universal Display,” said Hisao Shigenaga, president of Lumiotec.

“We are pleased to enter into this arrangement with Lumiotec, the world’s first company established to be exclusively dedicated to the manufacture and sale of OLED lighting panels,” said Steven Abramson, president and CEO of Universal Display. “It is a very positive sign for the emerging OLED lighting industry to have Lumiotec, with industry-leading founders like Mitsubishi Heavy Industries, Rohm, Toppan Printing and Mitsui & Co., committed to making and selling high-performance OLED lighting products.”

Under the license agreement, Universal Display grants Lumiotec license rights under various patents and associated know-how owned or controlled by Universal Display for Lumiotec to manufacture and sell certain OLED products for lighting applications. Lumiotec will pay Universal Display license fees and running royalties on its sales of these licensed products under the agreement. The agreement runs through December 31, 2015.

Separately, Universal Display has agreed to sell to Lumiotec certain OLED materials for use in manufacturing OLED products as authorized under the agreement.

Lumiotec will establish mass production capability of high-luminance, high-efficiency OLED panels beginning in February 2012, mainly with 145 x 145-mm warm white, 40 lm/W OLED lighting sample panels, with mass production models available in April 2012. Lumiotec is also developing natural white high-efficient OLED lighting panels, which will be released in 2012 as well.

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