Corning Announces Collaboration with OLEDWorks
April 13 2015 - 8:30AM
Agreement enables increased efficiency and conformable OLED
lighting solutions
CORNING, N.Y., April 13,
2015 - 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 luminaries 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.
About OLEDWorks
OLEDWorks is a leader in the development and production of
affordable and innovative organic light-emitting diode lighting
solutions. Founded in 2010, OLEDWorks' has built its production
methodology on a novel system that delivers competitive and
cost-effective OLED solid state lighting panels, while
simultaneously offering flexibility and responsiveness. OLEDWorks
was founded by many of the original pioneers in the OLED industry,
giving OLEDWorks the unique OLED production experience and insight
into manufacturing strategies specifically tailored to lighting.
OLEDWorks applies its more than 200 person years of collective
industry experience in OLED technology to making the most advanced
and cost effective solutions in OLED lighting.
Headquartered in Rochester, N.Y.,
where OLED was discovered, OLEDWorks is the only U.S.-based OLED
lighting manufacturer, and has become the dependable domestic
source for OLED lighting solutions. For more information, visit
www.OLEDWorks.com.
About Corning
Incorporated
Corning (www.corning.com) is one of the world's leading innovators
in materials science. For more than 160 years, Corning has applied
its unparalleled expertise in specialty glass, ceramics, and
optical physics to develop products that have created new
industries and transformed people's lives. Corning succeeds through
sustained investment in R&D, a unique combination of material
and process innovation, and close collaboration with customers to
solve tough technology challenges. Corning's businesses and markets
are constantly evolving. Today, Corning's products enable diverse
industries such as consumer electronics, telecommunications,
transportation, and life sciences. They include damage-resistant
cover glass for smartphones and tablets; precision glass for
advanced displays; optical fiber, wireless technologies, and
connectivity solutions for high-speed communications networks;
trusted products that accelerate drug discovery and manufacturing;
and emissions-control products for cars, trucks, and off-road
vehicles.
Media Relations
Contact:
Pamela W. Porter
(607)
974-9980
porterpw@corning.com
Investor Relations
Contact:
Ann H.S. Nicholson
(607) 974-6716
nicholsoas@corning.com
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This
announcement is distributed by NASDAQ OMX Corporate Solutions on
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Corning Incorporated via Globenewswire
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