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OLEDWorks LLC in Rochester is one of five companies nationally that will divvy up $10.1 million in federal funding to develop cost-effective solid-state lighting, officials said Tuesday.
OLEDWorks plans to develop high-performance deposition technology that would reduce the cost of organic materials used in the lighting and offset the depreciation of equipment, officials from the U.S. Department of Energy said.
The goal for the OLEDWorks project is to supply affordable, high-quality products for the organic light-emitting diode market, officials said.
The five companies selected for the fourth round of Energy Department investments have separate project goals.
The $10.1 million from the department will be matched by $10.1 million from the five private-sector companies, officials said. A breakdown of the federal funding for each of the companies was not disclosed.
The four other companies participating in the two-year project are Cree Inc., Durham, N.C.; Eaton Corp., Menomonee Falls, Wis.; Philips Lumileds Lighting Co., San Jose, Calif.; and PPG Industries Inc., Pittsburgh.
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