Universal Display Awarded U.S. Department of Energy SBIR Phase I Grant for White OLED Lighting

  Universal Display Awarded U.S. Department of Energy SBIR Phase I Grant for
  White OLED Lighting

     Company to develop cost-effective outcoupling enhancement for energy
            efficient, thin form factor white OLED lighting panels

Business Wire

EWING, N.J. -- November 28, 2012

Universal Display Corporation (NASDAQ: PANL), enabling energy-efficient
displays and lighting with itsUniversalPHOLED^®technology and materials,
today announced that the company has been awarded a $149,997 Small Business
Innovation Research (SBIR) Phase I program from the U.S. Department of Energy
(DOE). Under a program titled “Novel Low Cost Single Layer Outcoupling
Solution for OLED Lighting,” the company will evaluate and demonstrate thin
form factor outcoupling techniques to improve the energy-efficiency and
cost-effectiveness of white OLED lighting panels.

Outcoupling techniques increase the amount of light that is emitted from an
OLED lighting panel. To date, no one has demonstrated an approach to achieve
desired extraction efficiency targets in a thin form factor and cost-effective
manner. The company’s novel single layer approach has the potential to
increase the light extraction by greater than a factor of two while being
cost-effective and compatible with low-cost OLED manufacturing techniques.

“Our UniversalPHOLED technology and materials play a critical role in making
white OLEDs an important energy-saving lighting technology by increasing the
amount of electrical energy that is converted into light by a factor of four.
A key remaining challenge has been to develop a cost-effective technique to
double the amount of that light that emits through the surface of the OLED
panel,” said Steven V. Abramson, President and Chief Executive Officer of
Universal Display. “Thanks to the ongoing support of the U.S. Department of
Energy, our team plans to demonstrate a novel approach to achieve this target
and help accelerate the commercialization of energy-efficient and
cost-effective white OLED lighting panels. With novel thin and lightweight
form factors, energy-efficient white OLED lighting may create a myriad of
opportunities for new product designs and lighting applications and play a
meaningful role in reducing energy consumption and carbon emissions in the
U.S. and around the world.”

The DOE has made a long-term commitment to the development and introduction of
energy-efficient, solid-state white lighting. The use of UniversalPHOLED
technology and materials has been essential to demonstrating white OLED
lighting panels that meet the DOE’s targets. The company is also at the
forefront of developing complementary technologies including light extraction,
thin-film encapsulation and flexible OLED technologies. In combination, these
technology may open up a vast array of novel lighting applications.

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.

AboutUniversal Display Corporation

Universal Display Corporation (NASDAQ: PANL) is a leader in developing and
delivering state-of-the-art, organic light emitting diode (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 2,700 issued and pending patents
worldwide, including those acquired from Fujifilm. 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 Display Corporation, Seiko Epson Corporation,
Sony Corporation, Showa Denko K.K., and Tohoku Pioneer Corporation. To learn
more about Universal Display, please visit http://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 registered trademarks.

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, 2011. Universal Display Corporation
disclaims any obligation to update any forward-looking statement contained in
this document.

Contact:

Universal Display Corporation
Media Contact:
Gregory FCA
Matt McLoughlin,610-228-2123
matt@gregoryfca.com
or
Investor Relations:
Gregory FCA
Joe Hassett,610-228-2110
joeh@gregoryfca.com
 
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