The solid-state light source developed by Oree is thin and flat – about the size and shape of a credit card – and is ideally-suited for general lighting applications, decorative and architectural lighting, as well as backlighting for LCD panels.
Oree says that it is currently working with selected customers in Asia and Europe, and will be in high-volume production by early next year.
A joint press release from Epistar and Oree described the funding as "a demonstration of the strong strategic relationship between the two companies." Epistar has been manufacturing chips for Oree since 2007. Continued collaboration will strengthen market penetration in Asia, Europe and the US for both companies, says the press release.
As one of the world’s leading LED chip suppliers, Epistar Corporation has partnered with a number of companies with novel and promising technologies. For example, Epistar made an investment in Lynk Labs in October last year.
“Oree has introduced a game-changing LED technology and brought some great talent to the market,” said BJ Lee, Chairman of Epistar Corporation. “I am excited about our shared vision."
“By investing in Oree, Epistar has demonstrated confidence in the significant market potential of our technology,” said Eran Fine, founder and CEO of Oree. “This funding will help us meet our high-volume production goals, as well as expand our global reach.”
Oree’s LED planar light source addresses the needs of the lighting market, enabling thin and efficient illumination of large areas. The company's patented technology allows general lighting and backlight manufacturers to significantly increase system efficiency of LED-based systems, while reducing the cost.