CAMBRIDGE, United Kingdom, April 13, 2007 (PRIME NEWSWIRE) -- Cambridge Display Technology (CDT) (Nasdaq:OLED), a pioneer in the development of polymer light emitting diode (P-OLED) technology, has announced that it has been awarded another grant by the UK Department of Trade and Industry (DTI). This grant will part fund a project which will be important in the field of low-cost organic electronic devices, and especially in the development of low-cost flexible displays. The total value of project is around $500k.
The project will aim to develop commercially viable computational fluid dynamic (CFD) simulation techniques to model the drying behavior of organic semiconductors. Until now, the production of working display prototypes has required the use of empirical data which is both expensive and slow to obtain. Using the new models, the development cycle time should be significantly reduced.
Working with lead partner CDT on this project is ANSYS Europe, a subsidiary of ANSYS, Inc. (Nasdaq:ANSS), which has many years experience of multiphase free-flow modeling. ANSYS Europe will implement the models for organic semiconductor drying behavior in order to provide predictive tools within its ANSYS CFX(r) software, which should lead to further understanding of the complex drying process.
When completed, the materials process model will itself be made available commercially by the partners to display makers wishing to accelerate their own P-OLED display developments, as well as helping CDT to improve the performance and time to market of its own range of inkjet inks.
"The support of the DTI on this project is greatly appreciated," said Dr. David Fyfe, CEO of CDT. "It will allow us to make fast progress in improving our ability to develop inks and device technology, as well as potentially providing a new product in its own right.
"The announcement of this grant success comes after our announcement of work on metal deposition processes, also important in the development of flexible displays, and underscores the increasing importance which CDT puts on flexible display and OTFT development."
About CDT
Cambridge Display Technology is a pioneer in the development of light emitting polymers (P-OLEDs) and their use in a wide range of electronic display products used for information management, communications and entertainment. P-OLEDs are part of the family of organic light emitting diodes, or OLEDs, which are thin, lightweight and power efficient devices that emit light when an electric current flows. P-OLEDs offer an enhanced visual experience and superior performance characteristics compared with other flat panel display technologies such as liquid crystal displays, and have the key advantage that they can be applied in solution using printing processes. Founded in 1992, the company is headquartered in Cambridge, UK and listed on the U.S. NASDAQ National Market under the symbol 'OLED'.
More information on CDT can be found at: www.cdtltd.co.uk
About ANSYS, Inc.
ANSYS Europe Ltd. Is a subsidiary of ANSYS Inc. (Nasdaq:ANSS), founded in 1970, which develops and globally markets engineering simulation software and technologies widely used by engineers and designers across a broad spectrum of industries. The Company focuses on the development of open and flexible solutions that enable users to analyze designs directly on the desktop, providing a common platform for fast, efficient and cost-conscious product development, from design concept to final-stage testing and validation. The Company and its global network of channel partners provide sales, support and training for customers. Headquartered in Canonsburg, Pennsylvania, U.S.A., with more than 40 strategic sales locations throughout the world, ANSYS, Inc. and its subsidiaries employ approximately 1,400 people and distribute ANSYS products through a network of channel partners in over 40 countries. Visit www.ansys.com for more information.
ANSYS, ANSYS Workbench, CFX, AUTODYN, FLUENT and any and all ANSYS, Inc. product and service names are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries located in the United States or other countries. ICEM CFD is a trademark licensed by ANSYS, Inc. All other trademarks or registered trademarks are the property of their respective owners.
Statements contained in this press release that are not historical facts are "forward-looking statements" and their presence may be indicated by words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will" and "may," as well as the negative thereof and similar expressions. There can be no assurance that future developments affecting Cambridge Display Technology, Inc. and its subsidiaries will be those anticipated by management. Among the factors, risks and uncertainties that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements are the following: the outcomes of the Company's ongoing and future research and development activities, as well as those of its licensees; the Company's ability to form and continue strategic relationships with manufacturers of P-OLED materials and displays; the successful commercialization of products that include the Company's P-OLED technology by its licensees; the willingness of the Company's manufacturers and licensees to continue to develop, manufacture and sell commercial products integrating the Company's technology; the future demand for products using the Company's P-OLED technology; the comparative advantages and disadvantages of any competing technologies; the Company's ability to maintain and improve its competitive position following the expiration of its fundamental patents; the adequacy of protections afforded to the Company by the patents that it owns or licenses and the cost to the Company of enforcing these patents; the Company's ability to obtain, expand and maintain patent protection in the future and to protect its unpatentable intellectual property; and the Company's future capital requirements and its ability to obtain additional financing when needed. Readers should also consider the additional factors described under the caption "Risk Factors" in the Company's 10-K and 10-Q reports filed with the SEC. Investors should not place undue reliance on such forward-looking statements and the Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.