Already in 2003, Pioneer introduced the first OLED display product to use Universal Display’s phosphorescent OLED technology and materials. Since then, Pioneer has developed and marketed a variety of passive-matrix OLED products for automotive, consumer electronics and other applications. Pioneer now believes it is prepared to take the next step into OLED lighting using Universal Display’s UniversalPHOLED technology and materials.
The agreement grants Pioneer license rights to manufacture and sell OLED products for lighting applications. Pioneer will pay running royalties on its sales of these licensed products under the agreement. The term of the agreement continues until Pioneer sells a specified amount of licensed products. Universal Display separately agreed to sell to Pioneer certain phosphorescent OLED materials for use in manufacturing licensed OLED lighting products.
According to market watchers, OLED lighting has the potential to lower the energy demands and lessen the environmental impacts associated with lighting on a global scale. Recent advances in OLED lighting currently allow OLEDs to meet a variety of niche lighting performance targets and demonstrate the potential for OLEDs to achieve general lighting targets established by the U.S. Department of Energy. In addition, OLED lighting may enable a range of new product concepts with innovative form factors, transparency and flexibility.