OLEDWorks - Page 7

OLEDWorks have successfully completed its Series A funding round from private investors. While we do not know the exact amount, this money will (according to the company) enable them to start producing "low-cost" OLED lighting panels.

OLEDWorks is building an OLED lighting manufacturing fab in Rochester, NY, and they say that they will offer low-cost OLEDs through the use of equipment and process innovation. Next week at LightFair 2013 they will present their first OLED prototypes, which they plan to start shipping in the second half of 2013.

OLEDWorks' first panels will be 4x4 inch (12x12 cm) in size - and they will be efficient (over 45 lm/W). The company will offer two options: OLED panels on glass and on metal. The panels be thin (under 3 mm) and will come in six color variants - red, blue, green, amber and three white color options (3000K, 3500K and 4000K).

Update: I just got word from OLEDworks, and it seems that that article is not correct. In fact, OLEDWorks and Cambridge Trust reached a settlement and the encapsulation tool is already installed at OLEDWorks. Good to hear.

According to a reports OLEDWorks filed a lawsuit against Cambridge Trust bank, seeking an emergency court order to stop the bank from pulling out of a deal to sell two thin-film coating machines to OLEDWorks. OLEDWorks say that they signed deals with customers to supply OLED lighting panel samples in time for the Lightfair trade show in April, and if they do not get these machine quickly they will not be able to do so.

OLEDworks signed an agreement with Cambridge Nanotech in October to buy their used coating machine (called the Phoenix) for $540,00 (a new one costs about $750,000). Later when Cambridge Trust bank took over Cambridge Nanotech, they agreed to actually supply the Phoenix and a second, larger-capacity coating machine (called the Tahiti II) to OLEDWorks - both for only $350,000 (the Tahiti II is word about $1.5 million). Later the bank found a different buyer and decided not to honor the agreement.

OLEDWorks signed a patent license agreement with Global OLED Technology, LG's company that holds Kodak's OLED patents. This is a royalty-bearing license that gives the right to use OLED lighting related patents.

OLEDWorks is an OLED lighting panel manufacturer that was established in 2010 by former Kodak OLED business experts. Earlier today the company announced a $61,000 grant to expand their R&D lab in Rochester.

OLEDWorks received a $60,700 grant from Rochester Gas & Electric company (RG&E) - to upgrade their R&D lab. OLEDWorks currently has 8 employees already working in the new lab, and they plan to hire 12 more staffers next year.

OLEDWorks is an OLED lighting panel manufacturer that was established in 2010 by former Kodak OLED business experts.