Universal Display gets grant for OLED research

Ewing, N.J.-based Universal Display (Nasdaq: PANL) said today it received a research grant from the U.S. Department of Energy for white OLED lighting.

The company said the $750,000 phase II grant would go toward the demonstration of a simpler white OLED design that could reduce manufacturing costs, without compromising performance.

"Based on our proprietary Pholed technology, white OLED lighting is at the forefront of potential solutions that the DOE believes may help stem the tide of energy consumption and save billions of dollars in energy costs," said Steven Abramson, president and COO of Universal Display.

"White OLEDs also offer superior lighting and design characteristics, based on their color tunability, emission uniformity and novel form factor."

Universal Display said the new white OLEDs will use two Pholed, or phosphorescent OLED, emitters that will be specially designed to emit broadly so that the color spectrum can be optimally covered.

Earlier this month, the company received a $935,000 contract extension from the U.S. Army for the continued development of a flexible OLED display on metal foil.

Under that program, Universal Display is working with LG.Philips LCD (NYSE: LPL) on a display for a wrist-based communications device using Universal Display's Pholed technology and amorphous-silicon TFT from LG.Philips.