Friday, December 04, 2020 11:25:29 AM
eMagin Expanding New York Manufacturing Facility to Support Growth
HOPEWELL JUNCTION, NY / ACCESSWIRE / December 4, 2020 / eMagin Corporation (NYSE American:EMAN), a leader in the development, design and manufacture of Active Matrix OLED microdisplays used in Military and Commercial AR/VR devices, and other near-eye imaging products, today announced that the Company has signed a new ten year lease expanding their current footprint by 25% to approximately 63,000 square feet. Additionally, eMagin will have two five-year options to extend the lease as part of this agreement.
"We are encouraged by the recognition we have received for our technology and are excited to begin the upgrade of our equipment and facilities. As a result, we are securing more space in our Hopewell Junction facility in advance of the arrival of the new equipment under our $5.5 million IBAS grant and $33.6 million award from the Department of Defense for enhanced U.S. domestic capability for high resolution, high brightness OLED microdisplays. We will begin the buildout of the space in the first quarter of 2021, increasing our existing clean room by approximately 50% which will house a production tool for our high brightness Direct Patterning Technology process. As part of this effort and to support our improved manufacturing processes, we expect to hire additional production and engineering personnel beginning in 2021," said CEO Andrew Sculley.
Dutchess County Executive Marcus J. Molinaro said, "We are grateful to have a leading tech company like eMagin in our County. Dutchess has a long and rich history of high-tech research and development, and manufacturing companies producing products that advance and protect the World. We look forward to working with eMagin to help train their new and existing workforce in Dutchess County."
About eMagin
The leader in OLED microdisplay technology for the next generation of computing and imaging devices, serving world-class customers in the military, consumer, medical and industrial markets. We invent, engineer and manufacture display technologies of the future in the USA, including our Direct Patterning Technology (dPdTM) that will transform the way the world consumes information. Since 2001, our microdisplays have been, and continue to be, used in AR/VR, aircraft helmets, heads-up display systems, thermal scopes, night vision goggles, future weapon systems and a variety of other applications. www.emagin.com
Contact:
eMagin Corporation
Mark A. Koch, Acting Chief Financial Officer
845-838-7951
mkoch@emagin.com
Affinity Growth Advisors
Betsy Brod
212-661-2231
betsy.brod@affinitygrowth.com
SOURCE: eMagin Corporation
https://us8.campaign-archive.com/?e=0166e6444c&u=68294f8d85c8f5e1cdc88c0c4&id=b69814e984
Recent EMAN News
- Form 15-12G - Securities registration termination [Section 12(g)] • Edgar (US Regulatory) • 10/30/2023 12:30:06 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 10/30/2023 04:15:21 AM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 10/27/2023 12:36:43 PM
- Form POS AM - Post-Effective amendments for registration statement • Edgar (US Regulatory) • 10/27/2023 12:33:01 PM
- Form POS AM - Post-Effective amendments for registration statement • Edgar (US Regulatory) • 10/27/2023 12:32:41 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM