RG&E $61,000 Grant Helps OLEDWorks Build High-tech R&D Lab

ROCHESTER, N.Y., Dec. 2, 2011 /PRNewswire/ -- OLEDWorks LLC announced today that RG&E has granted them up to $60,700 in economic development funds for electrical infrastructure upgrades at their new research & development lab at Canalside Business Park in Rochester, NY.  OLEDWorks has already moved eight employees into the newly renovated 5,000 square foot R&D facility on Lyell Avenue, which is now operational. OLEDWorks plans to hire 12 more staffers and invest significantly in additional equipment in the next year.

The OLEDWorks state-of-the-art laboratory is now engaged in research and development leading to manufacturing of energy efficient lighting using Organic Light Emitting Diode (OLED) technology. John Hamer, chief operations officer of OLEDWorks, said, "We are very pleased to have the support of RG&E in building this laboratory. Their help was pivotal in our decision to locate the lab in Rochester." 

"RG&E is happy to assist OLEDWorks' expansion and not only keep, but grow high-tech jobs in Rochester. That's exactly why our economic development program exists," said Joe Rizzo, economic development manager at NYSEG and RG&E. "From September 2010 through December 2013, NYSEG and RG&E plan to invest nearly $40 million in economic development grants and rate incentives to businesses that want to expand in, or relocate to, upstate New York."

OLEDWorks LLC is a Rochester, NY based company established in 2010 for the production of Organic Light Emitting Diode (OLED) lighting panels.

RG&E, a subsidiary of Iberdrola USA, serves 367,000 electricity customers and 303,000 natural gas customers in a nine-county region centered on the City of Rochester. For more information or to apply for RG&E economic development assistance, please visit www.lookupstateny.com, or www.rge.com.

About OLEDWorks - OLEDWorks LLC was founded in July of 2010 with a mission to develop and manufacture the world's best OLED lighting.  The OLEDWorks team is comprised of pioneers and inventors in the OLED field.  Each individual has broad experience of process and product development in OLED technology.  OLEDWorks' team members average more than 10 years of OLED experience. For more information, please visit www.oledworks.com.

SOURCE OLEDWorks