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Universal Display and Acuity Brands Announce $2 Million U.S. Department of Energy SBIR Phase III Contract to Demonstrate Protot

^{Published on 2010-11-03 08:35:43 - Market Wire}
 

EWING, N.J. & ATLANTA--([ BUSINESS WIRE ])--[ Universal Display Corporation ] (NASDAQ: PANL), the company enabling energy-efficient displays and lighting with its [ UniversalPHOLED^a" ]technology and materials, and [ Acuity Brands ], Inc. (NYSE: AYI), a market leader in innovative energy efficient lighting and control solutions, announced today that the companies are working together under a $2 million, [ U.S. Department of Energy ] (DOE) Small Business Innovation Research (SBIR) [ Phase III Xlerator grant ] to develop an energy-efficient and color-tunable phosphorescent OLED lighting system. The objective of the collaboration is to accelerate market introduction of OLED lighting for high-end commercial and institutional applications.

"Acuity Brands has been investing aggressively in advanced technologies and control systems, innovations that will permeate the sustainable lighting solutions of the future for our customers"

To build on the significant advances in Universal Displaya™s PHOLED panel performance achieved in prior phases of this SBIR program, Universal Display has partnered with Acuity Brands Lighting to support the development and commercial introduction of PHOLED lighting systems during this Phase III Xlerator Program. Acuity Brands Lighting will design and fabricate general-purpose lighting system prototypes, targeted for high-end commercial spaces, including office, retail and health-care buildings, to take advantage of several key attributes of OLEDs a" including a thin, sleek form factor and exquisite quality of light. In addition, the system will offer highly-efficient white light that can be tuned across a range of color temperatures by using Universal Displaya™s proprietary architecture and high-efficiency PHOLED panels. The ability to adjust the color of white light in a single OLED panel adds flexibility and refinement to lighting environments. This functionality is neither feasible nor practical when using traditional light sources such as incandescent or fluorescent.

aAcuity Brands has been investing aggressively in advanced technologies and control systems, innovations that will permeate the sustainable lighting solutions of the future for our customers,a said Vernon J. Nagel Chairman, President and Chief Executive Officer, Acuity Brands. aWe are pleased to extend that commitment via this U.S. Department of Energy Award and to work alongside Universal Display Corporation. We are confident that initiatives such as this will facilitate the commercialization of advanced technologies such as OLEDs,a Nagel said.

aWe are very appreciative of this continued support from the U.S. Department of Energy and this opportunity to partner with Acuity Brands Lighting, a world-leading manufacturer of lighting systems and solutions,a said Steven V. Abramson, President and Chief Executive Officer of Universal Display. aOur recent advances in white PHOLED lighting panel performance, combined with the superb design capabilities of Acuity Brands Lighting, position our team to demonstrate an elegant, state-of-the-art luminaire system for a variety of commercial settings. By teaming with Acuity Brands Lighting under this program we believe that we can, together, accelerate the development and commercial introduction of PHOLED lighting systems.a

In 2009, lighting consumed 9.84 quads of primary energy, or about 25% of the total electricity generated in the U.S. To reduce the ever-increasing demand for energy, OLEDs, which are potentially highly energy-efficient and cost-effective diffuse light sources, may offer a agreena™ alternative to existing incandescent bulbs and fluorescent tubes. OLEDs also offer unique design possibilities that may potentially revolutionize the industry through novel, thin form factor lighting products. By employing Universal Displaya™s PHOLED technology in luminaire systems like the one to be developed by Acuity Brands Lighting during this program, significant energy savings and reduced environmental impacts, such as lower greenhouse gas emissions, are possible. In addition, this work has the potential to launch a new U.S. lighting industry sector that may lead to additional agreena U.S. jobs while promoting U.S. technological leadership for advanced energy systems.

About Universal Display Corporation

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 1,000 issued and pending patents worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLEDa" 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. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training.

Based in Ewing, New Jersey, Universal Display works and partners with a network of world-class organizations, including Princeton University, the University of Southern California, the University of Michigan, and PPG Industries, Inc. The company has also established relationships with companies such as AU Optronics Corporation, Chimei Innolux Corporation, DuPont Displays, Inc., Konica Minolta Technology Center, Inc., LG Display Co., Ltd., Samsung Mobile Display Co, Ltd., Seiko Epson Corporation, Sony Corporation, Showa Denko K.K., and Tohoku Pioneer Corporation. To learn more about Universal Display, please visit [ www.universaldisplay.com ].

About Acuity Brands

Acuity Brands, Inc. is a North American market leader and one of the worlda™s leading providers of luminaires, lighting control systems and related products and services with fiscal year 2010 net sales of over $1.6 billion. The Companya™s lighting and system control product lines include Lithonia Lighting®, Holophane®, Peerless®, Mark Architectural Lightinga", Hydrel®, American Electric Lighting®, Gotham®, Carandini®, RELOC®, MetalOptics®, Antique Street Lampsa", Tersen®, Renaissance Lighting®, Winona Lighting®, Synergy® Lighting Controls, Sensor Switch®, Lighting Control & Designa", and ROAM®. Headquartered in Atlanta, Georgia, Acuity Brands employs approximately 6,000 associates and has operations throughout North America, Europe and Asia.

Universal Display Corporation and the Universal Display logo are trademarks or registered trademarks of Universal Display Corporation. Acuity Brands is a registered trademark of Acuity Brands, Inc. All other company, brand or product names may be trademarks or registered trademarks.

All statements in this document that are not historical, such as those relating to Universal Display Corporationa™s or Acuity Brands Inc.a™s technologies and potential applications of those technologies, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporationa™s and Acuity Brands, Inc.a™s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporationa™s and Acuity Brands, Inc.a™s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled aRisk Factorsa in Universal Display Corporationa™s annual report on Form 10-K for the year ended December 31, 2009 and Acuity Brands, Inc.a™s annual report on Form 10-K for the year ended August 31, 2010. Universal Display Corporation and Acuity Brands, Inc. disclaim any obligation to update any forward-looking statement contained in this document.