Press release
Universal Display Corporation Announces Formation of OVJP Corporation to Advance the Commercialization of Groundbreaking OLED TV Manufacturing Technology
Names Jeff Hawthorne CEO of OVJP Corporation, 25+ Year Capital Equipment Industry Veteran EWING, N.J.--(BUSINESS WIRE)-- Universal Display Corporation
About this update from Universal Display Corporation
[{"type":"text","content":"\nNames Jeff Hawthorne CEO of OVJP Corporation, 25+ Year Capital Equipment Industry Veteran\n\n EWING, N.J.--(BUSINESS WIRE)--\nUniversal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced the formation of its wholly-owned subsidiary OVJP Corporation (OVJP Corp). To be headquartered in Silicon Valley, California, OVJP Corp was established to advance the commercialization of Universal Display’s (UDC) novel, mask-less, solvent-less, OLED printing manufacturing platform. This newly established subsidiary will be led by Jeff Hawthorne, who has been appointed Chief Executive Officer of OVJP Corp.\n\n\nOrganic Vapor Jet Printing (OVJP) is a groundbreaking dry direct printing technology for depositing organic materials to manufacture 4K and 8K resolution OLED TVs. This technology represents a high-throughput, high-performance, efficient, large-area patterned OLED manufacturing process platform and enables cost-effective printing of side-by-side red, green and blue (RGB) OLED TVs. OVJP technology originated at Princeton University with Professor Stephen Forrest and his research team under the long-term research program with UDC. The Company has made significant advancements through the years and is currently working on printing full-color phosphorescent RGB 4K test panels. OVJP research and development will continue in Ewing N.J., and OVJP Corp. will focus on scaling the technology into a commercial equipment system.\n\n\nJeff Hawthorne brings a wealth of technical, strategic and operational leadership expertise, and over 25 years of experience in the capital equipment industry, primarily at Photon Dynamics (PDI). Under his leadership, Photon successfully scaled its tools from Gen 4.5/5 to Gen 6, 7.5, 8 and to Gen 10 as panel makers broadened its manufacturing of displays from small/mid-size to large-size and PDI became the market leader of test and repair equipment for the global flat panel display market.\n\n\n“The formation of OVJP Corporation is the next step in our strategic roadmap for commercializing our state-of-the-art OLED printing technology and we are pleased to have Jeff join us to lead our new subsidiary,” said Steven V. Abramson, Universal Display's President and Chief Executive Officer. “UDC was founded with the mission t...