Universal Display has entered into a technology license agreement with Pioneer under which Pioneer will be authorised to use the proprietary UniversalPHOLED phosphorescent and other materials and technologies of Universal Display to produce and market OLED lighting devices.
As per the agreement, Pioneer will gain licensing rights to Universal Display’s patents and technological know-how for manufacturing OLED lighting devices. Also, according to the agreement, on the sales of the licensed products, Pioneer will pay royalties to Universal Display. This arrangement will continue until Pioneer reaches a particular target of sales of the licensed products. Apart from this, Universal Display will sell a few chosen phosphorescent materials to Pioneer, which can be used to develop OLED lighting devices.
Pioneer first launched an OLED display adopting phosphorescent OLED materials and technology from Universal Display in 2003. The display was one of the products to win the 10th Annual Advanced Display of the Year Award under the category of display materials and components. Subsequently Pioneer has introduced various passive matrix OLED products which can be used in the areas of consumer electronics and automotive industries. The phosphorescent OLED technology is a recent technological advancement from Universal Display and has the potential to cover niche lighting markets, meet the OLED target set by the Department of Energy of the US and lead to the development of various new products and technologies in the lighting industry.