by Shane Henson — September 7, 2011—Universal Display Corporation, developers of OLED technology for use in flat panel displays, lighting and organic electronics, announced it has entered into a technology license agreement with Panasonic Idemitsu OLED Lighting (PIOL), a joint venture between Panasonic Electric Works and Idemitsu Kosan.
Under the new agreement, PIOL will be licensed to integrate Universal Display’s proprietary UniversalPHOLED phosphorescent and other OLED technologies and materials into its OLED lighting products.
Facilities personnel and other end-users will likely experience the benefits of this agreement in the increased efficiency and sustainability of the displays, electronics and other lighting products that Panasonic Idemitsu OLED Lighting produces using Universal Display’s OLED technologies.
OLEDs are considered a potential solution for introducing more energy-efficient, environmentally benign and design-friendly lighting products. Universal Display’s phosphorescent OLED technology and materials have reportedly demonstrated a four-to-one power advantage over other OLED technologies, resulting in record energy-efficient OLEDs.
Advances in OLED lighting, including those demonstrated by Universal Display, now allow OLEDs to meet a variety of niche lighting performance targets and demonstrate the potential for OLEDs to achieve general lighting targets established by the U.S. Department of Energy. It has been estimated that by 2016, OLEDs could generate well over $20 billion in worldwide savings of electricity costs and could save over nine million metric tons of carbon emissions from the United States alone.
