eMagin Corporation (NYSE Amex: EMAN), a global leader in OLED microdisplays and virtual imaging technologies, announced today the formation of a partnership with the University of Rochester to develop next-generation organic light-emitting diodes (OLED) for high-efficiency, solid-state lighting systems. The research effort is being funded by the U.S. Department of Energy in a three-year, $1.3 million effort to more than triple the light output of the current generation of OLEDs. The grant to help develop the next generation of high-efficiency, solid-state lighting systems was awarded to the University of Rochester and eMagin Corporation. eMagin will receive a portion of the award amount for its work on the project. Andrew G. Sculley, President and CEO of eMagin, commented, “As a recognized leader in high performance OLED technology, we are delighted to have been chosen by the U.S. Department of Energy for this award. We are also honored to be working with Professors Lewis Rothberg and Ching Tang, inventor of OLED, on this project. While OLEDs are giving consumers efficient, brighter and faster electronic displays, about 80% of light is trapped inside the device and is wasted. Therefore, the partnership will seek to drastically improve the amount of useful light emitted from the device by developing technologies that use nano-particle based plasmonic scattering of light.” Mr. Sculley continued, “Solid state lighting is one of the areas the DOE is focusing on as it seeks solutions that will help optimize energy consumption in the U.S. while reducing carbon emissions. Success in this research effort has the potential to revolutionize the multi-billion-dollar markets for home, commercial and industrial lighting systems. In addition, advances in OLED technology for solid state lighting systems could also help make our microdisplays even more efficient, further improving our competitive position in the military, commercial and industrial markets we serve. We look forward to working with our partners at the University of Rochester to advance the next generation of OLED technology for lighting solutions with an eye toward commercialization.”
About eMagin CorporationA leader in OLED microdisplay technology and personal display systems, eMagin integrates high-resolution OLED microdisplays with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs. The company's own Z800 3DVisor provides 3D stereovision and headtracking for PC gaming, training and simulation, immersion therapy, and other applications. More information about eMagin is available at www.emagin.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding eMagin Corporation's expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors, including those described in the Company's most recent filings with the SEC. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. The business and operations of the Company are subject to substantial risks which increase the uncertainty inherent in forward-looking statements. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.