Epistar Signs LED Collaboration and IP Licensing Agreement With Intermolecular
SAN JOSE, Calif., April 22, 2013 -- Intermolecular, Inc. (Nasdaq:IMI) announces today that Epistar, Corp. (TWSE:2448) and Intermolecular, Inc. (Nasdaq:IMI), have signed a collaborative development program (CDP) and royalty-bearing IP licensing agreement to increase the efficiency and reduce cost of Epistar's light emitting diode (LED) devices. Under this agreement, Epistar and Intermolecular engineers will work together to leverage Intermolecular's High Productivity Combinatorial (HPC™) technology platform to dramatically accelerate development and manufacturing qualification of novel materials and processes for advanced LED products.
"After a rigorous review of Intermolecular's capabilities through an initial collaboration engagement, we have seen how their combinatorial approach to materials innovation and device integration can augment Epistar's leadership in LED technology," said M. J. Jou, president of Epistar. "Collaboration with our industry partners has been critical to our world-leading R&D and manufacturing strategy. We are confident that leveraging Intermolecular's team and technology platform will further increase our competitive advantage."
The commercial LED market is highly competitive, and new technologies created by R&D are needed to both improve light output and to reduce costs. A multi-functional team of technologists from Epistar and Intermolecular will work together using the HPC Platform to accelerate the pace of R&D ten times or more compared to what can be achieved in a conventional LED lab.
"We are very excited to partner with Epistar, a global leader in LED manufacturing," commented Sandeep Nijhawan, senior vice president and general manager of Intermolecular's clean energy group. "Entering into a strategic engagement with a top-tier LED company like Epistar validates the applicability and disruptive potential of the HPC technology platform for LEDs, a market that continues to have tremendous room for growth and technology innovation."
Intermolecular's mission is to improve R&D efficiency in the semiconductor and clean energy industries through collaborations that use its HPC platform, which allows R&D experimentation to be performed at speeds up to 100 times faster than traditional methods.
Forward-Looking Statements
Statements made in this press release that are not statements of historical fact are forward-looking statements. Forward-looking statements are subject to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release relate, but are not limited, to the Company's expectations for any incremental revenue related to the technology that is being leveraged. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations, including but not limited to risks detailed from time to time under the heading "Risk Factors" in the Company's report on Form 10-K for fiscal year 2011, and its subsequent reports on Form 10-Q for fiscal year 2012. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Intermolecular, Inc.
Intermolecular® has pioneered a proprietary approach to accelerate research and development, innovation, and time-to-market for the semiconductor and clean energy industries. The approach consists of its proprietary HPC™ platform, coupled with its multi-disciplinary team. Through paid collaborative development programs (CDPs) with its customers, Intermolecular develops proprietary technology and intellectual property for its customers focused on advanced materials, processes, integration and device architectures. Founded in 2004, Intermolecular is based in San Jose, California. "Intermolecular" and the Intermolecular logo are registered trademarks; and "HPC" is a trademark of Intermolecular, Inc.; all rights reserved. Learn more at www.intermolecular.com.
