Company signed a new ten-year lease expanding its current footprint by 25% to approximately 63,000 square feet.
Printed Electronics Now staff12.07.20
announced that the company has signed a new ten-year lease expanding its 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," CEO Andrew Sculley said. "We will begin the buildout of the space in the first quarter of 2021, increasing our existing cleanroom 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."