June 1, 2005, Cambridge, England--Cambridge Display Technology (CDT) and Sumitomo Chemical have signed a memorandum of understanding to form a new joint venture company to develop and supply advanced polymer OLED (P-OLED) materials and formulated inks for use in commercial P-OLED display and lighting applications. The new company, to be based in Tokyo, Japan, will be owned equally by the two parent companies.
The parent companies will channel their existing P-OLED materials research and development activities into the new JV company, which will have access to the P-OLED material IP of the parent companies. Sumitomo has recently completed the acquisition of the Lumation business from The Dow Chemical Company, and will make available, on an exclusive basis, the polyfluorenes technology and IP of the Lumation business to the joint venture. P-OLED materials manufacture will ultimately be based in Japan.
The joint venture will have access to the strongest materials set in the polymer OLED sector, including the current best-performing full colour P-OLED materials based on polyfluorene chemistry which CDT and Dow have separately developed over the last ten years. It also has exclusive access to 'next generation' high efficiency materials based on dendrimer chemistry which CDT gained through the acquisition of Opsys in 2002.
Sumitomo and CDT have been working together since 2003 on the dendrimer class of materials.