Display Corporation (NASDAQ: PANL), enabling energy-efficient
displays and lighting with its UniversalPHOLED®
technology and materials, today announced that the company was
recognized by the U.S.
Department of Energy (DOE) for outstanding achievements in
solid-state lighting throughout 2011. Universal Display received the
award during 'Transformations
in Lighting,' the DOE's annual Solid-State Lighting R&D
Workshop, held January 31- February 2, 2012 in Atlanta, GA.
This is the fifth consecutive year that the company has received this
This year's award is for Universal Display's demonstration of an
all-phosphorescent OLED lighting system with greater than 55 lumen per
Watt system efficacy in an under-cabinet application. This under-cabinet
demonstration is an excellent example of the myriad lighting
applications that can benefit from white OLEDs, as a result of their
energy-efficient and cool operation, their ultra-thin form factor, and
their pleasing color emission.
"The U.S. Department of Energy is pleased to see Universal Display's
prototype systems demonstrating the promise of white OLED lighting with
commercially-viable performance," said Dr. James Brodrick, Lighting
Program Manager, U.S. Department of Energy. "This DOE-UDC cost-shared
project shows how government-industry partnerships can achieve R&D goals
that ultimately bring energy savings to Americans." Dr. Brodrick
presented the award to Dr. Mike Hack, who accepted it on behalf of the
entire team at Universal Display.
"We appreciate the ongoing support from the U.S. Department of Energy,
and also appreciate the recognition for our work in advancing OLED
lighting in the broad scope of solid-state lighting," said Steven V.
Abramson, President and Chief Executive Officer of Universal Display.
"We have a tremendous team at Universal Display, as well as a strong
network of partners that support our ongoing advances in highly
energy-efficient phosphorescent OLED technology and materials. We look
forward to continuing our work with the DOE to achieve performance
targets for the commercialization of OLED lighting in a broad range of
The U.S. DOE has estimated that solid-state lighting, including OLED
lighting, could lead to a 50 percent reduction in energy use for
lighting by 2030, or enough electricity to power more than 24 million
homes in the U.S. Recent advances in OLED lighting, including those made
by Universal Display, now allow OLEDs to meet a variety of niche
lighting performance targets and to demonstrate the potential for OLEDs
to achieve general lighting targets established by the U.S. Department
of Energy. Universal Display's phosphorescent OLED technology and
materials offer up to a four-to-one power advantage over other OLED
technologies, resulting in record energy-efficient OLEDs. In addition,
OLED lighting may enable a range of exciting new product concepts with
innovative form factors, transparency and flexibility.
To see how Universal Display is changing the face of the display and
lighting industries with its UniversalPHOLED, white OLED, and flexible
OLED technologies, please visit the company at www.universaldisplay.com.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: PANL) is a leader in developing
and delivering state-of the-art, organic light emitting device (OLED)
technologies, materials and services to the display and lighting
industries. Founded in 1994, the company currently owns or has
exclusive, co-exclusive or sole license rights with respect to more than
1,200 issued and pending patents worldwide. Universal Display licenses
its proprietary technologies, including its breakthrough high-efficiency
UniversalPHOLED® phosphorescent OLED technology, that can
enable the development of low power and eco-friendly displays and white
lighting. The company also develops and offers high-quality,
state-of-the-art UniversalPHOLED materials that are recognized as key
ingredients in the fabrication of OLEDs with peak performance. In
addition, Universal Display delivers innovative and customized solutions
to its clients and partners through technology transfer, collaborative
technology development and on-site training.
Based in Ewing, New Jersey, Universal Display works and partners with a
network of world-class organizations, including Princeton University,
the University of Southern California, the University of Michigan, and
PPG Industries, Inc. The company has also established relationships with
companies such as AU Optronics Corporation, Chimei Innolux Corporation,
DuPont Displays, Inc., Konica Minolta Technology Center, Inc., LG
Display Co., Ltd., Lumiotec, Inc., Moser Baer Technologies Inc.,
Panasonic Idemitsu OLED Lighting Co., Pioneer Corporation, Samsung
Mobile Display Co, Ltd., Seiko Epson Corporation, Sony Corporation,
Showa Denko K.K., and Tohoku Pioneer Corporation. To learn more about
Universal Display, please visit www.universaldisplay.com.
Universal Display Corporation and the Universal Display logo are
trademarks or registered trademarks of Universal Display Corporation.
All other company, brand or product names may be trademarks or
All statements in this document that are not historical, such as
those relating to Universal Display Corporation's technologies and
potential applications of those technologies, are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. You are cautioned not to place undue reliance on any
forward-looking statements in this document, as they reflect Universal
Display Corporation's current views with respect to future events and
are subject to risks and uncertainties that could cause actual results
to differ materially from those contemplated. These risks and
uncertainties are discussed in greater detail in Universal Display
Corporation's periodic reports on Form 10-K and Form 10-Q filed with the
Securities and Exchange Commission, including, in particular, the
section entitled "Risk Factors" in Universal Display Corporation's
annual report on Form 10-K for the year ended December 31, 2010 and
quarterly report on Form 10-Q for the quarterly period ended March 31,
2011. Universal Display Corporation disclaims any obligation to update
any forward-looking statement contained in this document.
Universal Display Corporation
Joe Hassett, 610-228-2110