Universal Display (PANL) and Lumiotec Enter Technology License Agreement for OLED Lighting
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Lumiotec Inc., founded by Mitsubishi Heavy Industries, Ltd., Rohm Co., Ltd., Toppan Printing Co., Ltd., and Mitsui & Co., Ltd. in 2008 to develop, manufacture and sell OLED lighting panels, and Universal Display Corporation (NASDAQ: PANL), enabling energy-efficient displays and lighting with its UniversalPHOLED technology and materials, today announced that the companies have entered into an OLED technology license agreement. Under the new agreement, Lumiotec will be licensed to integrate Universal Display’s proprietary UniversalPHOLED phosphorescent and other OLED technologies and materials into OLED lighting products.
“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. “This is a major breakthrough in the OLED lighting industry. We hope to further strengthen our partnership with Universal Display and have a strong position as a leading player of the next-generation lighting.”
“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 V. Abramson, President and Chief Executive Officer 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. Universal Display looks forward to continuing to work with Lumiotec to accelerate their efforts in bringing energy-efficient OLED lighting products to the market using our high-efficiency phosphorescent OLED technology and materials.”
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 term of the agreement runs through December 31, 2015. Universal Display separately agreed to sell to Lumiotec certain OLED materials for use by Lumiotec in manufacturing OLED products as authorized under the agreement.
“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. “This is a major breakthrough in the OLED lighting industry. We hope to further strengthen our partnership with Universal Display and have a strong position as a leading player of the next-generation lighting.”
“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 V. Abramson, President and Chief Executive Officer 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. Universal Display looks forward to continuing to work with Lumiotec to accelerate their efforts in bringing energy-efficient OLED lighting products to the market using our high-efficiency phosphorescent OLED technology and materials.”
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 term of the agreement runs through December 31, 2015. Universal Display separately agreed to sell to Lumiotec certain OLED materials for use by Lumiotec in manufacturing OLED products as authorized under the agreement.
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