According to Reuters, Moser Baer Technology, a leading Indian technology company, Moser Baer India, will invest $11.5 million to build the world's first organic electroluminescent diode (OLED) illumination in New York, USA. Equipment factory.
To build this $20 million facility, Moser Baer Tech. will work with OLED technology operator Universal Display Corporation (UDC) and the State University of New York at Albany's School of Intelligent Systems Technology and Commercialization (Smart System) Technology and Commercialization Center; STC) cooperation.
The plan is in line with the US Revitalization Economic Act, which UDC can apply to the US Department of Energy for $4 million, but it must demonstrate that commercialization of OLED lighting panels is indeed feasible. Moser Baer Tech. is responsible for sourcing advanced equipment for the production of OLED panels.
The balance of the required funds will be provided by Empire State Development on a low-interest basis. The STC responsible for erecting clean room facilities may also apply for partial funding from the Economic Development Administration.
After the construction is completed, the plant is expected to create 50 high-tech jobs by 2012 and create high-performance and environmentally friendly lighting systems to replace traditional incandescent bulbs and fluorescent lamps.
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