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PR NewsWire Universal Display Corporation's Research Partners Develop
New Organic Materials For Higher Efficiency OLED Flat Panel Display
EWING, N.J., Feb. 29 /PRNewswire/ -- The Universal Display Corporation
(UDC) (Nasdaq: PANL; Philadelphia: PNL), a developer of flat display
technology, announced today that its research partners have discovered a
variety of new, energy efficient organic materials to be used with organic
light emitting diodes (OLED's) for the manufacture and production of the next
generation of electronic flat panel displays. Their achievements were
reported in the February 17 issue of Nature, the prestigious peer reviewed
journal of science.
UDC's research partners, led by Dr. Stephen Forrest of Princeton
University, have found that combining two different methods for emitting
light, fluorescence with phosphorescence, can create more efficient sources of
light. The findings by Dr. Forrest and the research team including Dr. Mark
Thompson of The University of Southern California and Marc Baldo, a graduate
student at Princeton University, demonstrate UDC's proprietary material system
which involves co-mingling phosphorescence with fluorescence to improve the
efficiency of the other OLED systems. Fluorescence, which has been used in
OLEDs, can potentially provide a wider range of colors.
Dr. Forrest said electronics manufacturers could use the new techniques
within six months in certain applications such as car stereo displays.
Eventually the technique could lead to ubiquitous use of OLED's in products
such as palm pilots, cell phones and laptops. "It offers manufacturers
exactly what they want," said Forrest. "You want a laptop that doesn't run
down the battery in three hours; you want a battery to last 10 hours."
"This invention provides validation to the innovative direction of our
research, development and commercialization program and helps position us as a
leader in the creation of the OLED industry and its widespread integration
into commercial use," said Steven Abramson, President and COO of Universal
Display. "We congratulate our research team which has exercised its
tremendous talent to harness those properties and prepare us to deliver
products to the market."
The Nature article details how combining certain molecular properties with
a phosphorous sensitizer can result in light sources that are brighter, last
longer and may be less expensive to produce than today's traditionally used
liquid crystal diode (LCD) technology and inorganic light emitting diode (LED)
technology. The lengthy Nature scientific review indicates that the emerging
OLED technology has the potential to replace the current standard LCD and LED
light sources to give us greater illumination, truer coloration and longer
lasting battery life.
Industry's adoption of the OLED technology should provide major benefits
for manufacturers of such items as, cellular phones, palm size computers,
laptop computers, electronic readout panels and point of purchase displays.
Founded in 1994, Universal Display is engaged in the research, development
and commercialization of OLEDs for use in flat panel displays and other
applications. OLEDs are seen as the future replacement technology for the
$40 billion electronic display market.
An OLED is an electronic device made by placing a series of organic thin
films between two conductors. When the current is applied, a bright light is
emitted. OLEDs are lightweight, durable, power efficient and ideal for
portable applications. OLEDs have fewer process steps and also use both fewer
and lower-cost materials than LCD displays. Universal Display believes that
OLEDs will replace the current technology and have the following performance
advantages over LCDs: greater brightness, faster response time for full
motion video, fuller viewing angles, lighter weight, greater environmental
durability, more power efficiency and broader operating temperature ranges.
All statements in this press release that are not historical are forward-
looking statements. Such statements are subject to risks and uncertainties
that could cause actual results to differ materially for Universal Display
Corporation from those projected, including, but not limited to, uncertainties
relating to technological approaches, product development, manufacturing, and
marketing acceptance, uncertainties related to cost and pricing of Universal
Display products, dependence on collaborative partners, and other competition,
risks relating to intellectual property of others and the uncertainties of
patent protection. These are discussed in periodic reports filed with the
SEC, including the Company's annual report on Form10-KSBA for the year ended
December 31, 1998 and quarterly report on Form 10-Q. Universal Display
Corporation expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements contained
herein to reflect any change in Universal Display Corporation's expectations
with regard to thereto or any change in events, conditions, or circumstances
on which any statements are based. |
