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Published on : Jan 22, 2015

A new OLED technology license agreement has been signed between Sumitomo Chemical Company Ltd., and Universal Display Corporation. This agreement states that non-exclusive license rights have been granted to Sumitomo Chemical by Universal Display. These rights come within the ambit of several patents that are controlled and owned by Universal Display for manufacturing and selling processed OLED (Organic Light Emitting Diode) lighting goods. This particular agreement runs for Universal Display’s life for the relevant intellectual property rights. 

As per the CEO and President of Universal Display, the proprietary UniversalPHOLED technology has almost four times higher efficiency than the usual OLED technology which is very critical for high performance and energy efficient solid state lighting (SSL). This will also ensure that Universal Display will get a major boost in the growth witnessing SSL market. The director of Sumitomo also expressed that the company will aim at exploring various business opportunities in lighting applications that will gradually take the printed polymer OLED technology to a brand new level. 

Universal Display Corporation is basically a leader in delivering and developing the best quality organic light emitting diode technology, services, and materials in the entire market for display and lighting. This company was founded in 1994 and it has exclusive and sole license rights with regard to greater than 3300 pending and issued patents all across the globe. This company licenses its proprietary technologies and this also includes the breakthrough highly efficient UniversalPHOLED phosphorescent OLED technology which enables the creation of eco friendly and low power displays and white lighting.