Universal Display Corporation (UDC) - Page 39

Universal Display Corporation and Nippon Steel Chemical today announced a new PHOLED emitter material from Universal Display, called UDC-RD39, and the exciting collaborative results of combining this new emitter material with NSCC's commercial NS11 host material.

When combined with NS11, this new bright-red PHOLED emitter, with CIE coordinates of (0.65, 0.35), exhibits a luminous efficiency of 24 candelas per Ampere (cd/A), corresponding to a 19% external quantum efficiency, at 1000 candelas per square meter (cd/m2). Under accelerated testing conditions, this new red emitter demonstrates an operating lifetime of approximately 220,000 hours, at an initial luminance of 1000 cd/m2. These dramatic performance gains represent a 60% increase in luminous efficiency and five-fold increase in lifetime, as compared to Universal Display's first-generation commercial red PHOLED emitter. As a result, Universal Display's second-generation emitter in combination with NSCC's host material may be well suited to meet the performance requirements for TV and other demanding product applications.

Ron Mertens from OLED-Info.com recently had the opportunity to interview Toshiki Mizoe, overseas sales manager, Tokki Corporation. Tokki manufactures vacuum process equipment and factory automation system, and developed the first OLED mass production system in 1999, which processed both OLED / electrode material deposition and encapsulation by one system. Tokki's OLED production system has been delivered to most of small molecular OLED manufactures in Japan, Korea and Taiwan.

Q: First of all, thank you for agreeing to conduct this interview. Can you describe your production system (ELVESS)?
ELVESS is cluster tool OLED production system, and it has evaporation chambers for organic materials and metal (for cathode), and automatic encapsulation unit is connected to the system. Total system can be run for 5 to 6 days without stop, with tact time of

For the year ended December 31, 2006, Universal Display had revenue of $11,921,292, compared to $10,147,995 for the year 2005, a 17% increase year-over-year. Revenue growth was driven by increases in commercial chemical sales and license fee revenues. The Company's revenue mix continues to shift as its PHOLED technology transitions to commercial applications.

For 2006, the Company reported a net loss attributable to common shareholders of $15,186,804 or $(0.49) per diluted share, versus a net loss of $15,801,612 or $(0.56) per diluted share for 2005.

Sidney D. Rosenblatt, Chief Financial Officer of Universal Display, said: "For 2007, we expect this trend to continue as our technology gains further commercial adoption. We've already begun to see products in the marketplace that utilize commercial active-matrix OLED displays from one of our major licensees. Our financial position remains strong and we continue to focus on prudent use of our capital as we pursue new licensees for our technology for both display and lighting applications in 2007."

Nippon Steel Chemical and Universal Display Corporation today announced significant enhancement in the performance of green phosphorescent OLEDs resulting from their ongoing technical collaboration.

By combining Universal Display's green phosphorescent emitter, UDC-GD48, with NSCC's new green host material, the two companies have achieved record operational lifetime for a green phosphorescent OLED device. This green OLED offers 60,000 hours of operational lifetime at an initial luminance of 1,000 candelas per square meter (cd/m(2)). The device also exhibits a high luminous efficiency of 65 candela per ampere (cd/A) and an external quantum efficiency of 18%, at 1,000 cd/m(2), both characteristic features and benefits of phosphorescent OLED technology. The color coordinates for this device in a standard bottom-emission structure are C.I.E. (0.35, 0.61).

An interesting video clip about Universal Display, frrom C|Net. There are interviews with several people from UDC, and also some nice shots of the BenQ S88 phone.

Idemitsu Kosan and Universal Display Corporation today announced that they have signed a non-exclusive collaboration agreement to accelerate the development of blue phosphorescent OLED materials. The collaboration will focus on blue phosphorescent OLED materials for use in displays fabricated through "dry" processing methods, such as vacuum thermal evaporation. The collaboration work will start between Universal Display and Idemitsu Kosan immediately after execution of their agreement.

To date, Idemitsu Kosan has been developing and commercializing mainly excellent fluorescent OLED materials (blue, green and red). Idemitsu Kosan is now supplying these materials to OLED display manufacturers throughout the world. Idemitsu Kosan is especially well-known for its blue fluorescent OLED material, which currently has the top market share in the world.

Universal Display is a leading developer of OLED technologies and materials, and holds basic patents on phosphorescent OLEDs. Many OLED display manufacturers are now evaluating Universal Display's PHOLED(TM) phosphorescent OLED technology and its red and green PHOLED materials, and Universal Display's red PHOLED material is currently being used in commercial production.

With Idemitsu Kosan's valuable experience and accomplishments in the development of blue fluorescent OLED materials, and Universal Display's leadership and pioneering efforts in phosphorescent OLED technology and materials, both companies are optimistic that they will be able to accelerate progress in the area of blue phosphorescent OLEDs through this collaboration.

Revenues for the three months ended September 30, 2006 were $3,096,288, compared to $3,372,870 for the same quarter in 2005. Revenues from the third quarter showed solid increases in commercial chemical sales, license fee revenues and technology development revenues, and decreases in development chemical sales and contract research revenues. The Company’s revenue mix continues to shift as its phosphorescent OLED (PHOLED™) technology is commercialized.

The Company reported a net loss of $2,943,287 (or $0.09 per share) for the quarter ended September 30, 2006, compared to a net loss of $2,979,140 (or $0.10 per share) for the same quarter in 2005.

Next Phase to Focus on Konica Minolta's Commercialization of All-Phosphorescent OLED Backlights and Other Lighting Products

Konica Minolta And UDC announced the strengthening of their collaboration to incorporate Universal Display's proprietary PHOLED(TM) phosphorescent OLED technology into Konica Minolta's white OLED devices. On June 30, 2006, Konica Minolta announced that it had successfully developed a white OLED with a power efficiency of 64 lumens per watt, which is four times the efficiency of standard incandescent bulbs. For this development, Universal Display's red and green PHOLED technology and materials have been used in conjunction with Konica Minolta's proprietary OLED technologies, such as its own blue phosphorescent materials and multi-layer design technologies.

Konica Minolta is currently accelerating its efforts to enable commercial manufacturing of white OLED devices for backlights in displays and for other lighting applications. These OLED devices are anticipated to use all phosphorescent materials.

Universal Display Corporation announced that it has been awarded a $730,000 Small Business Innovation Research (SBIR) Phase II contract by the U.S. Army Research Laboratories (ARL) to continue its development of innovative encapsulation technology for flexible OLEDs.

In this program, entitled Flexible and Conformal Environmental Barrier Technology for Displays, Universal Display will be using a new approach to encapsulate a long-lived, active-matrix OLED (AMOLED) display prototype built on flexible metal foil. During the prior Phase I program, Universal Display and Princeton University demonstrated the feasibility of this multilayer encapsulation process based on plasma-enhanced chemical vapor deposition (or PECVD). This technology, pioneered at Princeton University, is designed to enable the deposition of protective, barrier films onto an OLED’s top surface, a critical element on the development roadmap for flexible OLED displays.

Universal Display Corporation today announced that it has been awarded a Small Business Innovation Research (SBIR) Phase II grant for $750,000 from the U.S. Department of Energy (DOE) to develop power-efficient WOLED™ white OLED technology for future solid-state lighting applications.

Through this Phase II program, Universal Display is seeking to demonstrate novel WOLED device designs that offer further enhancements in power efficiency and operating lifetime based on the Company’s proprietary PHOLED technology.  The DOE has developed a technology roadmap suggesting a feasible path for white OLEDs to achieve power efficiencies of 100 to 150 lumens per Watt (lm/W).  Universal Display’s PHOLED technology is a critical element for achieving this goal.  The Company recently announced a white PHOLED with a power efficiency of more than 30 lm/W and external quantum efficiency (EQE) of 29 % at 850 nits, which the Company believes is the highest EQE reported to date.  Through programs such as this one, Universal Display hopes to achieve continued performance gains toward the DOE’s roadmap goals.

The new program will also leverage the Company’s proprietary OVPD™ organic vapor phase deposition processing technology.  OVPD technology offers the potential to optimize organic layer thicknesses, doping concentrations and the interfaces between the layers, and also to provide excellent film uniformity over large areas.