The US DoD awards eMagin with $33.6 million to sustain and maintain its OLED microdisplay production facility

Last month OLED microdisplay maker eMagin announced that the company received a $5.5 million award from the US Department of Defense to improve eMagin’s OLED microdisplay manufacturing capabilities - which was a first phase in a three phase program.

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The DoD yesterday published the full project, a Defense Production Act Title III agreement with eMagin that has a total funding of $33.6 million (this excludes the $5.5 million announced before). The DoD wants eMagin to sustain and expand its critical industrial base production of OLED microdisplays. This project is part of the US national response to COVID-19.

eMagin Corporation will replace and update single-point-of-failure and aging equipment to reduce production downtime and increase yield and throughput. This will ensure that the US government will have access to high-performance OLED microdisplays made in the US.

Disclosure: the author of this post holds some shares in eMagin

Source: 
Defense.gov
Tags: 
eMagin
Financial
OLED Microdisplays
OLED stocks
Posted: Jul 25,2020 by Ron Mertens

Comments

Submitted by Joe (not verified) on Mon, 07/27/2020 - 01:49

Ron, where are you seeing that the 33.6 million includes the 5.5 million that eMagin announced a few weeks ago? Not seeing that in the DOD release.

Submitted by Ron Mertens on Mon, 07/27/2020 - 11:27

Joe, that was what I understood from eMagin - not 100% sure though.

Submitted by Ron Mertens on Mon, 07/27/2020 - 16:02

Hello Joe,

Okay, it seems as if the $33.6 million excludes the $5.5 million already announced - my mistake, I fixed the post as well.

Submitted by Joe (not verified) on Mon, 07/27/2020 - 17:19

Thanks, Ron.

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