Full Press Release Details
Licenses Technology to AUO For E-Paper and Nano Displays
MELVILLE, N.Y.--(BUSINESS WIRE)--May 31, 2011--CopyTele, Inc.
(OTCBB:COPY) announced today that it has entered into two license
agreements with AU Optronics Corp. ("AUO") (NYSE:AUO) of Hsinchu, Taiwan
to produce and market CopyTele's E-Paper and Nano Display technologies.
The license agreements grant AUO an exclusive license for CopyTele's
E-Paper display patents and technology with the right to sublicense the
technology to third parties and a non-exclusive license for CopyTele's
Nano Display patents and technology with the right to consent to the
granting of licenses of the Nano Display technology to third parties.
Under the agreements, AUO will pay CopyTele aggregate license fees of US
$10 million, $3 million payable as an initial fee and $7 million upon
completion of certain conditions for the respective technologies. The
terms of the agreements provide for the basis for royalty payments by
Our advanced E-Paper electrophoretic display technology utilizes
specially coated particles in combination with a unique type of pixel
structure to create an image. This new technology is applicable for
electronic books and other low power applications. Our Nano display
technology incorporates a new type of low voltage color phosphors in
combination with nano materials and an electron emission system
utilizing nano materials to produce color video information. CopyTele's
Nano Display is applicable to small hand-held and larger size
applications including TV's.
CopyTele Chairman and CEO, Denis A. Krusos, said, "We are pleased to
have an agreement with AUO, one of the world's leaders in flat panel
displays. With the addition of AUO, CopyTele has the opportunity to
bring its display technologies into all phases of the world-wide display
AUO is a global leader of thin film transistor liquid crystal display
panels (TFT-LCD). AUO is able to provide customers with a full range of
panel sizes and comprehensive applications, offering TFT-LCD panels in
sizes ranging from 1.2 inches to greater than 71 inches. AUO generated
NT $467.2 billion in sales revenue in 2010 (US $16 billion*) with global
operations in Taiwan, Mainland China, Japan, Singapore, South Korea, the
U.S., and Europe. Additionally, AUO is the first pure TFT-LCD
manufacturer to be successfully listed at the New York Stock Exchange
(NYSE). AUO extended its market to the green energy industry in late
2008. The Display and Solar businesses were established respectively as
the Company's two core businesses in October, 2010. For more
information, please visit AUO.com.
*2010 year end revenue converted at an exchange rate of NTD29.14:USD1.
CopyTele's principal operations include the development, production and
marketing of thin flat display technologies, including low-voltage
phosphor color displays and low-power passive E-Paper displays, and the
development, production and marketing of multi-functional encryption
products that provide information security for domestic and
international users over virtually every communications media. For more
information on CopyTele, please visit CopyTele.com.
Forward-Looking Statements:
Statements that are not historical fact may be considered
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are not
statements of historical facts, but rather reflect CopyTele's current
expectations concerning future events and results. CopyTele generally
uses the words "believes", "expects", "intends", "plans", "anticipates",
"likely", "will" and similar expressions to identify forward-looking
statements. Such forward-looking statements, including those concerning
CopyTele's expectations, involve known and unknown risks, uncertainties
and other factors, some of which are beyond CopyTele's control, which
may cause CopyTele's actual results, performance or achievements, or
industry results, to be materially different from any future results,
performance, or achievements expressed or implied by such
forward-looking statements. In evaluating such statements as well as the
future prospects of CopyTele, specific consideration should be given to
various factors, including the following: CopyTele's prior history of
losses and negative cash flows from operations; CopyTele's ability to
obtain debt or equity financing to continue our marketing, research and
development activities, on terms acceptable to CopyTele, if cash
generated from operations is insufficient to satisfy our liquidity
requirements; CopyTele's ability to commercialize a full-color video
display; the possible development of competitive products that could
render CopyTele's products obsolete or unmarketable; and other risks as
detailed from time-to-time in CopyTele's filings with the Securities and
Exchange Commission. CopyTele undertakes no obligation to update any
forward-looking statements as a result of new information, unanticipated
events, or otherwise.
Anne Rotondo, 631-549-5900