Hanwha and Plasmion Sign Exclusive $2.25 Million Strategic Agreement.Business/Technology Editors SEOUL, South Korea & HOBOKEN, N.J.--(BUSINESS WIRE)--Oct. 21, 2002 Hanwha buys $1.25 million production system and makes $1 million strategic investment in Plasmion with exclusive OLED (Organic Light Emitting Device, Organic Light Emitting Diode) A thin film light-emitting technology that is expected to compete with LCD and plasma TVs as well as LCD monitors and readouts. substrate production rights in Korea and Taiwan Hanwha L&C Corporation (Hanwha) and Plasmion Corporation (Plasmion) today announced that they have entered into a strategic partnership to commercialize Plasmion's Negative Ion Beam deposition technology, a breakthrough thin film coating technology used to produce high quality Indium Tin Oxide Indium tin oxide (ITO, or tin-doped indium oxide) is a mixture of indium(III) oxide (In2O3) and tin(IV) oxide (SnO2), typically 90% In2O3, 10% SnO2 by weight. (ITO Ito, city (1990 pop. 71,223), Shizuoka prefecture, central Honshu, Japan, on the Izu Peninsula and the Sagami Sea. It is an important fishing port and hot spring resort. See indium. ) coated glass for Organic Light Emitting Diode See LED. (OLED) display substrates. Plasmion's patented technology utilizes a controlled discharge of ionized i·on·ize tr. & intr.v. i·on·ized, i·on·iz·ing, i·on·iz·es To convert or be converted totally or partially into ions. i particles to a substrate, resulting in coatings that are thinner, harder and smoother than conventional thin film deposition Placing thin films of material onto metal, ceramic or semiconductor substrates. See sputtering. processes. It can be implemented as a modification to existing magnetron magnetron (măg`nĭtrŏn'), vacuum tube oscillator (see electron tube) that generates high-power electromagnetic signals in the microwave frequency range. sputtering equipment, eliminating the expense of new equipment replacement. "We are delighted that Hanwha has embraced Plasmion's technology to help them launch production of ITO-coated glass for OLED substrates," said James A. Ionson, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Plasmion Corporation. "This extremely exciting initiative is just the beginning of a strategic partnership that will combine Plasmion's expertise in thin film deposition with Hanwha's leading polymer film based technologies and resources to revolutionize the way displays are coated." Hanwha ordered a $1.25 million production system and plans to begin full scale manufacturing of products beginning December 2002. The company expects to replace all of the ITO glass substrates for OLED that are currently imported from Japan and is also looking for export opportunities in Japan, Taiwan and other Asian countries. In addition to the system purchase, Hanwha made a $1 million strategic investment in Plasmion with rights to produce OLED substrate products in Korea and Taiwan. Du-Ryeon Chu, CEO of Hanwha L&C Corporation, said, "Plasmion's revolutionary technology, strong base of knowledge and intellectual property in thin film coating technology makes them a natural choice as a strategic partner to Hanwha." About Hanwha Hanwha Group is a multi-billion dollar company involved in information services, construction, explosives, machinery, trade and telecommunications. Established in 1966, Hanwha L&C Corp., a unit of the Chemical and Explosive Division of Hanwha Group, currently is involved in plastics, chemical products, automotive parts and floor-covering materials with manufacturing plants in Jinhae and Bookang, Korea. About Plasmion Plasmion Corporation is a market-driven technology company focused on delivering leading edge thin film application technology for the display, semiconductor, storage disk and optical communications industries and novel atmospheric pressure plasma technology for use in manufacturing plasma displays, etching/cleaning of electronic structures, surface modification and medical sterilization. Plasmion was formed in 2001 through the merger of two companies founded by scientists and inventors from Stevens Institute of Technology Stevens is known for its rigorous engineering, science, and technological management curricula. Among the prominent research centers of Stevens is the Davidson Laboratory, Wireless Network Security Center, Keck Geotechnical Laboratory, Plasma Physics Laboratory, Nicoll Environmental . Plasmion Corporation is headquartered in Hoboken, NJ, with representatives worldwide, including Europe, Japan, Korea and Taiwan. For more information please visit www.plasmion.com. |
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