Moser Baer Technologies and Universal Display Corporation Announce Technology & Licensing Agreement for Energy-Efficient White OLED Lighting

CANANDAIGUA, N.Y. & EWING, N.J.--(BUSINESS WIRE)--Moser Baer Technologies Inc., a U.S. subsidiary of Moser Baer India Ltd., and Universal Display Corporation (NASDAQ: PANL), enabling energy-efficient displays and lighting with its UniversalPHOLED^® technology and materials, today announced that the two companies have agreed to terms of a Memorandum of Agreement for technology licensing, material supply and technology assistance to support Moser Baer Technologies’ initiatives in white OLED lighting. This agreement follows a program that the two companies announced last year in which the companies received $4,000,000 from the U.S. Department of Energy to design and build the first white OLED lighting pilot manufacturing facility in the United States.

“We are very pleased to further strengthen our partnership with Moser Baer Technologies”

Under the agreement, Moser Baer Technologies will license Universal Display’s proprietary PHOLED and other OLED technologies and purchase Universal Display’s highly energy-efficient UniversalPHOLED materials for white OLED panel manufacturing. Moser Baer Technologies and Universal Display will also work together in a five-year program to support Moser Baer’s manufacture of white PHOLED lighting products.

The establishment of Moser Baer Technologies’ pilot manufacturing facility is a key next step in the development of a manufacturing base and market for white OLED lighting products in the U.S. The resulting panels will be made available to luminaire manufacturers to help seed the market for a range of new white OLED lighting products in the $90 billion lighting market.

“We are very pleased to further strengthen our partnership with Moser Baer Technologies,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display. “This Memorandum of Agreement will accelerate the development and manufacturing of phosphorescent OLED lighting panels by Moser Baer, a world leader in the development of low cost, high volume manufacturing facilities. Universal Display’s PHOLED technology and materials provide excellent performance characteristics that translate into energy savings, environmental benefits and cost effectiveness. Those benefits are key to enabling the manufacture of highly-efficient white OLED lighting products by companies such as Moser Baer Technologies.”

“The global lighting industry is going through a major transformation with the advent of solid state lighting options. The Moser Baer Group brings several years of experience in light management and substrate manufacturing technologies which are suitable for OLED lighting devices. We plan to use Universal Display’s superior PHOLED emitter materials and technology in combination with our substrate technology competencies and develop integrated, high-volume manufacturing concepts for OLED lighting products of the future. We are pleased to be working with Universal Display through this agreement which covers Universal Display’s phosphorescent OLED technology license to Moser Baer Technologies, access to Universal Display’s leading edge PHOLED materials and a multi-year technology support program for Moser Baer Technologies to commercialize OLED lighting products,” said Dr. G. Rajeswaran, CEO of Moser Baer Technologies and Group CTO of Moser Baer India Ltd. He further added, “We are confident that with our extensive capabilities in low cost/high throughput manufacturing, we will be able to industrialize this technology at competitive cost points.”

“Our existing capabilities and asset base for high speed substrate manufacturing are our strengths being leveraged as we take our initial steps in the Solid State Lighting space, with significant potential in the U.S., Indian, and other global markets,” added Yogesh Mathur, Director, Moser Baer Technologies and Group CFO, Moser Baer India Ltd.

The joint DOE program between Moser Baer Technologies and Universal Display is part of the DOE’s long-term commitment to advancing the development and introduction of energy-efficient white OLED lighting sources for general illumination. PHOLED technology is expected to play a critical role in the development and deployment of OLED solid state lighting technology, which offers increased energy efficiency, decreased power consumption, and an environmentally friendly alternative to traditional incandescent and compact fluorescent light bulbs. According to industry estimates, electric bills for lighting alone are over $200 billion per year on a worldwide basis. It has been estimated that by 2016, white OLEDs could generate well over $20 billion in worldwide savings of electricity costs and could save over nine million metric tons of carbon emissions from the U.S. alone.

Moser Baer Technologies, Inc.

Moser Baer Technologies is the U.S.-based subsidiary of Moser Baer India, Ltd., headquartered in New Delhi, and one of India's leading technology companies. Established in 1983, Moser Baer India is the world's second largest manufacturer of recordable Optical Storage media like CDs, DVDs and Blu Ray discs. They are also a major producer of solar photovoltaic technologies, consumer electronics, home entertainment and are in the business of IT Peripherals. Moser Baer has a presence in over 92 countries, and services through six marketing offices in India, the US, Europe and Japan. Moser Baer Technologies is the company's first U.S. based manufacturing operation and will be the first OLED manufacturing line for lighting in the United States. Moser Baer currently has over 6,000 full-time employees worldwide. For more information, visit http://www.moserbaer.com/.

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 UniversalPHOLED^® 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.

Universal Display Corporation and the Universal Display logo are trademarks or registered trademarks of Universal Display Corporation. 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 Corporation’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 Corporation’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 Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s annual report on Form 10-K for the year ended December 31, 2009. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.