OLEDWorks and Universal Display signed an OLED technology license agreement. OLEDWorks was granted license rights to manufacture and sell phosphorescent OLED lighting products. OLEDWorks will pay UDC an upfront license fee and running royalties.
OLEDWorks, established in July 2010 by former Kodak OLED business experts, is a US-based OLED lighting maker (the only OLED lighting producer in the US). The company developed a proprietary low-cost production process. In 2013 the company successfully completed its Series A fund raising, and the company received three DoE grants (see here, here and here) to further develop is OLED technology.
