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Press Release
SOURCE: Universal Display Corporation
Universal Display Announces: Advanced OLED Manufacturing Patent Issued for OVPD Technology
Novel Technology Can Revolutionize the Fabrication of OLEDs Leading to ``Web-Based'' Continuous Process Fabrication for Organic Electronics
EWING, N.J.--(BUSINESS WIRE)--Jan. 22, 2002-- Universal Display Corporation (NASDAQ: PANL; PHLX: PNL), a leading developer of flat panel display technology, announced today that its research partner, Princeton University, has been issued a new patent for an Organic Vapor Phase Deposition (OVPD) process that can provide substantial advantages for the manufacturing of Organic Light Emitting Diode (OLED) flat panel displays. UDC has the exclusive, world wide rights to this patent, titled, Low Pressure Vapor Phase Deposition of Organic Thin Films, U.S. patent number 6,337,102.
The advantages of OVPD technology include higher materials utilization, increased control over the deposition process, higher potential throughput, yield and lower manufacturing costs. OVPD technology also provides a significant step toward Web-based continuous process fabrication for organic electronics, including OLEDs, being uniformly and efficiently deposited on thin, flexible surfaces.
Specifically, Organic Vapor Phase Deposition involves the use of a carrier gas stream in a hot-walled reactor at low pressure to precisely deposit thin layers of organic electronic materials on to displays. The patented process can produce thin films having far superior surface properties when compared to traditional OLED processing. This advanced OLED manufacturing process should be a key element in bringing organic electronics into widespread use in the flat panel display industry.
Aixtron AG, a leading German equipment manufacturer, will manufacture and sell OVPD equipment under exclusive license from UDC. After an 18 month joint development program, the preproduction OVPD fabrication equipment is currently being installed in UDC's expanded pilot line facility.
UDC currently has exclusive rights to over 400 issued and pending patents worldwide for Organic Light Emitting Devices (OLEDs). These include approximately 200 patents from its seven-year Strategic Research Partnership with Princeton University and the University of Southern California as well as additional patents it received from Motorola, Inc., in exchange for Motorola's equity position in the Company. In addition to the OVPD patent, they include key patents in a number of areas, such as flexible OLEDs (FOLEDs(TM)), high efficiency phosphorescent OLEDs (PHOLEDs(TM)) and transparent OLEDs (TOLEDs(TM)).
Other recent patents provide exclusive worldwide rights for fabrication and color tuning technologies for OLEDs. These include:
Method for Patterning Devices, U.S. patent number 6,294,398, issued September 25, 2001, is a significant step toward the accurate, low-cost method for the patterning of OLED devices over large areas in a Web-based manufacturing process through stamping or cold-welding the electrodes.
Method for Deposition and Patterning of Organic Thin Film, U.S. patent number 6,297,516, issued October 2, 2001, is a new patent related to patterning small features in thin films using photolithographic patterning prior to organic film deposition. This patented process avoids exposing organic materials to photolithographic solvents that can be harmful to OLEDs.
Color-Tunable Organic Light Emitting Devices, U.S. patent number 6,287,712, issued September 11, 2001, allows for tuning the wavelength of light emitted by an OLED to achieve the desired color, particularly in red OLEDs.
Recent News Coverage
The December 21 issue of Semiconductor International featured a story on red phosphorescent OLED materials developed by Universal Display Corporation and its research partners. (link at e-insite.net.
The December issue of Laptop Magazine featured Universal Display Corporation in a story about OLEDs and their future in the $70 billion flat panel display industry (no link available).
The November issue of Chemical and Engineering News discussed the competition between Liquid Crystal Displays (LCDs) and Organic Light Emitting Devices (OLEDs) within the flat panel display industry (no link available).
About Universal Display Corporation
Universal Display Corporation is a world leader in developing and commercializing innovative OLED technologies. It is collaborating with a network of world class organizations to penetrate the electronic flat panel display market, including a long-standing relationship for innovative OLED research with Princeton University and the University of Southern California; a joint development agreement with Sony Corporation for OLED television monitors; a joint development agreement with Samsung SDI focusing on portable OLED devices; a strategic relationship for the commercialization and production of its proprietary high efficiency OLED materials with PPG, Inc. of Pittsburgh, PA USA; a partnership with Aixtron AG of Aachen Germany for the development and production of the next generation of OLED production equipment using Universal Display Corporation's proprietary organic vapor phase (OVPD) technology. Visit Universal Display Corporation on the Web at universaldisplay.com
Universal Display Corporation is located in the Princeton Crossroads Corporate Center, Ewing, N.J., minutes away from its research partner at Princeton University. Its 21,000 sq. ft. facility includes a pilot production line, as well as technology development and technology transfer facilities. The state-of-the-art facility has been designed to further technology development, technology transfer to manufacturing partners and work with customers to develop products to meet their needs for electronic flat panel displays.
All statements in this news release that are not historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, 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, statements regarding Universal Display Corporation's beliefs, expectations, hopes or intentions regarding the future. 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 thereto or any change in events, conditions, or circumstances on which any such statements are based. It is important to note that actual outcomes and Universal Display Corporation's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as: uncertainties relating to developments and advances in display technologies, including OLED, TOLED, SOLED, PHOLED and FOLED technology; the expansion of applications for OLED technology; the success of UDC and its development partners in accomplishing technological advances; the ability of Universal Display Corporation to enter into alliances with product manufacturers; 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 Form 10-K for the year ended December 31, 2000 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 thereto or any change in events, conditions, or circumstances on which any such statements are based.
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Contact:
Universal Display Corporation, Ewing
Dean Ledger
800-599-4426
by
Gregory FCA Communications
Investor contact: Kathy Keyser
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or
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