eMagin Corporation (NYSE American:EMAN), a leader in the development, design and manufacture of Active Matrix OLED microdisplays for high resolution imaging products, today announced the signing of a development and licensing agreement with a tier-one consumer electronics company permitting it to use eMagin technology.
The program is expected to generate licensing revenue if the company commercializes eMagin’s technology.
“This agreement is a major step towards the commercialization of our proprietary microdisplay technology,” said Andrew Sculley, President and Chief Executive Officer. “It is further validation of the capabilities of our direct patterning technology for high-brightness, high density microdisplays. Having another tier-one consumer electronics company complete rigorous diligence on our direct patterning technology and sign this agreement with us is a strong endorsement of our microdisplay technology.
“Display quality is one of the key remaining hurdles for ubiquitous AR/VR and we continue to hear that our technology is the solution. Just as we established our leadership in the demanding military market by leapfrogging LCD microdisplay technology with our superior OLED microdisplay technology, we believe we are now eliminating a key barrier for our consumer electronics partners to capture the AR/VR market.”
About eMagin Corporation
A leader in OLED microdisplay technology, OLED microdisplay manufacturing know-how and mobile display systems, eMagin manufactures high-resolution OLED microdisplays and integrates them with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin’s microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs. 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 and uncertainties, 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.
