Lumiotec Inc., and Universal Display Corporation announced
that the companies have entered into an OLED technology license agreement. Under
the new agreement, Lumiotec will be licensed to integrate Universal Display’s
proprietary UniversalPHOLED phosphorescent and other OLED technologies and materials
into OLED lighting products.
Under the license agreement, Universal Display
grants Lumiotec license rights to use various patents and associated know-how,
which Universal Display owns or controls, so Lumiotec can manufacture and sell
certain OLED products for lighting applications. Lumiotec will reportedly pay
Universal Display license fees and running royalties on its sales of these licensed
products. The agreement runs through December 31, 2015. Universal Display separately
agreed to sell to Lumiotec certain OLED materials for use by Lumiotec in manufacturing
OLED products as authorized under the agreement.