Today Congresswoman Louise Slaughter announced a $2 million award for Rochester's OLEDWorks.
The funding is from the Department of Energy and will help accelerate the development of organic light emitting diode products, also known as "OLEDs." The move could significantly reduce energy costs for both local homes and businesses.
CEO of OLEDWorks, David DeJoy, said they "certainly see OLED being a useful lighting source in commercial applications, office buildings, and hospitals, but definitely residential use too. There's no reason why this wouldn't be a beautiful light source in any home."
Officials say OLEDs are about ten times more energy efficient than conventional incandescent lights and can last more than 25 times longer.
Copyright 2015 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.