DoE gives Universal Display $750,000 for lighting applications

Ewing, NJ, October 12, 2004--Universal Display Corporation has been awarded a $750,000 Small Business Innovation Research (SBIR) Phase II contract from the U.S. Department of Energy (DOE) to develop and demonstrate advances in its OLED technology for energy-efficient, white lighting. This program is a continuation of a DOE SBIR Phase I program awarded in 2003.

In this program, "Low Voltage, High Efficiency White Phosphorescent OLEDs for Lighting Applications," Universal Display and its partners will continue their development of high luminous efficiency white phosphorescent OLEDs (PHOLEDs) using innovative techniques that lower the device operating voltage. Lower voltage is important to the future of solid-state OLED lighting because it results in further reductions in power consumption, making these light sources more energy efficient. With these advances, OLEDs have the potential to achieve the energy efficiency targets to be an attractive alternative to incandescent and fluorescent lighting.

"We are pleased that the Department of Energy is continuing to support our research and development of PHOLED technology, and we are dedicated to assisting them in advancing their solid-state lighting initiative," stated Steven Abramson, president and COO of Universal Display. "We strongly believe that the DOE's program will create real benefits for end users, manufacturers and the general public including energy savings, new lighting solutions, and the growth of new industry and markets."

According to the company, traditional lighting sources, which were invented over 100 years ago by Thomas Edison, are, at their most basic level, heat-generating devices that emit very little light--converting almost 95% of the electrical energy into heat. By contrast, OLEDs are more power-efficient light generating sources that, as a result, have the potential to generate less heat and operate at significantly lower voltages. According to a report prepared for the DoE, more than $25 billion per year could be saved by 2025 if solid-state lighting is successfully adopted. With the further advantages of a thin, lightweight and even flexible lighting form factor, OLEDs have become an important component of the DoE's Solid-State Lighting initiative as a leading technology candidate for the next-generation general lighting market.