NSERTING and REPLACING eMagin Receives $6.8 Million in R&D Contracts; Demonstrates Brightest Full Color OLED Microdisplay

eMagin Corporation (NYSE MKT: EMAN), a leader in OLED microdisplays and virtual imaging technologies, announced today that it has been awarded three new R&D contracts totaling $6.8 million. One of the three new contracts is a $1.1M contract over 15 months to further enhance the full color brightness of its recently demonstrated ultra-high-brightness microdisplay products. The second is a $4.9 million contract over 30 months and the third is a $.8 million contract over 11 months, both pertain to new manufacturing technology. Further details regarding the second and third contracts will be released in the near future.

Andrew Sculley, President and CEO of eMagin, said, “In September 2014 we demonstrated a full color WUXGA display with 9.6 micron pixels running at 7,000 nits using our proprietary technology. We believe this is the brightest ever full color OLED micro-display. With this new contract we recently signed, we expect to approximately double the brightness. We have a significant lead in developing the technology for highly power efficient, small form factor, high contrast, ultra-high-brightness, full color OLED microdisplays. This new contract will help us extend our lead.” Mr. Sculley continued, “Our recent demonstration was a very high resolution display, better than full HD (1920 x 1200), at a pixel pitch as small as our other displays (9.6 microns). These full color displays are much higher brightness and much more power efficient because they don’t use color filters. These displays are ideally suited for applications from avionics (both commercial and military) to the consumer data glass wearables market. These are the only displays that demonstrate the very high contrast at high brightness typically needed for avionics. This brightness plus our thinner, smaller form factor and the inherent lower power than LCOS or LCD technologies make our display highly attractive for the consumer data glass market. Our displays can be made less than 1.8mm thick.”

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