Corning Announces Collaboration with OLEDWorks
Corning Incorporated (NYSE: GLW) today announced a collaborative agreement with OLEDWorks to develop unique, flexible, and conformable OLED lighting solutions using Corning® Willow® Glass as an integrated substrate.
These lighting panels will be used in architectural lighting and luminaires and are expected to provide two times the light output of traditional OLED lighting panels, enabling increased efficiency and lower power consumption.
A key component in these new lighting solutions is Willow Glass, an excellent, thin, and flexible hermetic barrier and substrate. Willow Glass helps protect sensitive internal components from damaging moisture and oxygen while also acting as a structural material. This makes it an excellent choice for encapsulating the organic light emitting materials.
“Our collaboration with Corning adds the exciting promise of incredibly thin and flexible OLED lighting to our innovative product offerings,” said David DeJoy, chief executive officer, OLEDWorks. “Through this strategic alliance, the team will significantly improve energy efficiency by creatively integrating Corning’s light extraction technology with OLEDWorks’ formulation science and inventive manufacturing processes. Using Corning Willow Glass in our near-term product roadmap expands our OLED lighting portfolio to provide highly flexible and adaptive design statements for a wider variety of lighting applications.”
“We are pleased to collaborate with OLEDWorks to enable efficient and flexible lighting solutions,” said Dr. Dipak Q. Chowdhury, division vice president and program director, Emerging Innovations Group, Corning. “We believe this work will result in rapid product development and greater design flexibility, opening a world of possibilities for architects and designers.”
OLEDWorks’ novel manufacturing platform delivers affordable OLED solid-state lighting panels. Willow Glass enables system versatility and rapid reaction to market demands. Architects and lighting designers should be able to use conformable OLED lighting solutions in the near future.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are detailed in Corning’s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.