An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Adesis Announces Expansion at Delaware’s DuPont Experimental Station
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Universal Display Corporation (Nasdaq: OLED) announced the expansion of its subsidiary, Adesis, Inc., with a new state-of-the-art laboratory in Wilmington, Delaware, tripling its R&D space. This expansion aims to enhance Adesis' capabilities in organic and organometallic synthesis, supporting its growth in the chemical research sector. Governor John Carney commended the development as a boost to Delaware's economy, reflecting a commitment to innovation and job creation. The Adesis team expressed gratitude for state support, highlighting its role in contributing to Delaware's reputation in chemical research.
Positive
Expansion of Adesis' laboratory space tripled, enhancing R&D capabilities.
Governor Carney praised the expansion as beneficial for Delaware's economy.
Increased capacity supports broader service offerings and expertise.
Negative
None.
NEW CASTLE, Del.--(BUSINESS WIRE)--
Adesis, Inc., a leading contract research organization and a wholly-owned subsidiary of Universal Display Corporation (Nasdaq:OLED), today announced a new state-of-the-art laboratory expansion to support its growing research and development pipeline. Situated in Wilmington, Delaware, this expanded lab space approximately triples Adesis’ footprint in the DuPont Experimental Station.
“The new lab expansion in the Experimental Station increases our research footprint and broadens our capabilities for discovering, developing and designing critical chemistry solutions,” said Andrew Cottone, Ph.D., President of Adesis, Inc. “For nearly a century, the DuPont site has contributed to Delaware’s reputation as a leader in chemical research and development, and we are proud that Adesis is part of that remarkable legacy.”
“Adesis has a strong track record of growth and innovation, and we are pleased to see their continued expansion at the Experimental Station,” said Governor John Carney. “This is another example of how Delaware remains a great place for businesses of all sizes to put down roots, grow, and create jobs.”
The Adesis team worked closely with the office of Gov. John Carney and Becky Harrington and Kurt Foreman at the Delaware Prosperity Partnership (DPP), who were integral in facilitating the search and securing the Experimental Station agreement. This increased capacity will allow Adesis to extend its expertise and service offerings across a broader range of opportunities.
“Supporting Adesis’ growth in Delaware has been very gratifying for the DPP team to be a part of. As a leading chemical contract research manufacturing and R&D organization, Adesis plays an important role in enhancing Delaware’s vibrant science sector,” said Kurt Foreman, President and CEO of Delaware Prosperity Partnership. “Andrew Cottone and his team are doing great work. We look forward to celebrating Adesis’ continued growth.”
Cottone continued, “This expansion is the result of the continued growth Adesis has experienced since we first moved into the Experimental Station in 2017 for additional laboratory space. We’re incredibly appreciative of state and local support, including Governor Carney, the DPP, and Delaware Innovation Space (DISI) CEO and President, William Provine.”
About Adesis, Inc.
As a wholly-owned subsidiary of Universal Display Corporation, Adesis is a contract research organization (CRO) supporting the pharma, biotech, catalysis and a number of other industries. The CRO specializes in organic and organometallic synthesis, in milligrams to multi-kilogram quantities. Adesis has a business model of providing clients with organic chemistry services in three areas: early stage research, scale up and development, and specialty manufacturing. With over 20 years of success and approximately 100 chemists with extensive industry and professional experience, Adesis supports companies in various industries with small molecule organic chemistry expertise. Adesis provides a range of services that can supplement research and development efforts. It can also act as a specialty manufacturer to reinforce supply chains and protect sensitive intellectual property. To learn more about Adesis, please visit http://adesisinc.com/.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. To learn more about Universal Display Corporation, please visit https://oled.com.
Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as those relating to the Company’s technologies and potential applications of those technologies, the Company’s expected results and future declaration of dividends, as well as the growth of the OLED and CRO market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
What is the significance of the recent lab expansion by Universal Display Corporation's subsidiary, Adesis?
The lab expansion significantly increases Adesis' R&D capabilities, tripling its laboratory space and enhancing its service offerings in chemical research.
When was the laboratory expansion for Adesis announced?
The laboratory expansion was announced on September 7, 2021.
How does the laboratory expansion impact job creation in Delaware?
The expansion is expected to contribute to job creation in Delaware by supporting the growth of Adesis and enhancing the state's chemical research sector.
What is Universal Display Corporation's stock symbol?
Universal Display Corporation's stock symbol is OLED.
