Under the terms of the agreement, both companies plan to speed up the development and commercialization of solution-based OLED material systems by combining Plextronics' hole injection and hole transport materials with Universal Display's phosphorescent OLED emissive layer materials.
On the way toward that goal, Universal Display made a $4 million investment in Plextronics, too..
"This agreement is an important step in Plextronics' efforts to further advance the development and commercialization of its Plexcore® materials for phosphorescent OLED applications," said Andy Hannah, CEO of Plextronics.
"Plextronics has worked closely with Universal Display to develop initial Plexcore® HIL products for Universal Display's UniversalP2OLED® platform. The results of these efforts were compelling to the point it made sense to expand the relationship to include hole transport layer materials in order to achieve the next level of performance, " added he in the company statement
In response, Steven V. Abramson, CEO of Universal Display. "By combining our UniversalP2OLED® printable, phosphorescent OLED material systems with Plextronics' hole injection and transport materials, our goal is to develop high-performance, solution-based OLED material systems that can enable the implementation of ink-jet, nozzle and other potentially cost-effective, solution-processing manufacturing techniques."
Plextronics, Inc. is an international technology company that specializes in conductive polymers and printable formulations that enable advanced electronic devices.
Headquartered in Pittsburgh, PA, the company's develops customized inks to enhance the performance of organic light emitting diodes (OLEDs) for next generation displays and lighting applications, lithium ion batteries, polymer metal capacitors, and emerging organic electronic devices.
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 1,500 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.