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Posted on June 17, 2014 by  & 

OLEDWorks receives U.S. Dept. of Energy and NYSERDA funding

The U.S. Department of Energy and the New York State Energy Research and Development Authority (NYSERDA) have provided funding to OLEDWorks LLC to achieve low-cost manufacturing of organic light-emitting diode (OLED) products.
 
Combined, OLEDWorks received more than $1.4 million for this effort - $1 million from the Department of Energy and nearly $400,000 from NYSERDA. The goal of this funding is to help OLEDWorks reduce the high costs of OLED lighting manufacturing, to provide affordable, high-quality products to help grow the emerging OLED market.
 
OLEDWorks is utilizing this funding, along with its own investment, to develop innovative, high-performance deposition technology to address the high expense of organic materials and the depreciation of equipment.
 
"One of the primary obstacles to OLED's market acceptance is the current high cost of manufacturing," said John Hamer, COO, OLEDWorks. "We greatly appreciate the continued generous support of both NYSERDA and the U.S. Department of Energy in assisting us in accelerating the adoption of OLED lighting in the marketplace by reducing the cost of developing high-quality products."
 
Source: OledWorks
 
 
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