CAMBRIDGE, U.K.,  – Cambridge Display Technology (CDT), the owner and leading developer of light emitting polymer (LEP) technology, has been named as one of Europe’s 50 Hottest Tech Firms in the third annual Hot Company List published by TIME.

TIME identified CDT as the technology owner and licensor of light-emitting polymer technology, remarking that the company is laying the groundwork for lighter weight, thinner, higher image quality, and less power consuming displays for display-based products that range from mobile phones to eventually televisions.

CDT was named alongside a mix of early stage and established technology companies including biotechnology, semiconductor, optics, wireless and emerging technology firms. CDT was one of only three companies in the latter category, alongside Memscap, a French micro-electro mechanical systems manufacturer (MEMS), and fuel cell developer Smart Fuel Cell.

TIME interviewed venture capitalists, industry experts and entrepreneurs in its search to identify the “50 Hottest Tech Firms” with the most innovative products and services and the most promising business models. It looked for companies with the greatest future potential rather than current hype.

“CDT has successfully emerged from the early days of hype that cloud any emerging technology to establish LEP technology is a viable commercial reality. We are delighted that TIME has recognised CDT as one of Europe’s leading technology companies, validating both LEP technology’s future potential and our business model. CDT has remained focused on building a business that supports the full commercialisation of LEPs by its licensees. Our licensees have begun to launch products onto the market using LEP display technology as a mark of this progress,” said David Fyfe, CEO, CDT.

LEP is part of the OLED (organic light emitting diode) display market, which has been forecast to be over $2.7 billion in revenue by 2007. The OLED display market consists of a wide range of electronics products, including mobile phones, PDAs, digital cameras, camcorders, microdisplays, and eventually personal computers, desktop monitors and television.

About CDT
Cambridge Display Technology (CDT) is a privately held company leading the research, development and commercialisation of polymer technology for flat panel displays, lighting, and photovoltaics. CDT’s light emitting polymer (LEP) technology is targeted for use in a wide range of electronic display products used for information management, communications and entertainment. Features include reduced power consumption, size, thickness and weight, very wide viewing angle, superior video imaging performance and the potential to produce displays on plastic substrates. To date, licenses have been granted to Delta Optoelectronics, DuPont Displays, MicroEmissive Displays, OSRAM, Philips, and Seiko-Epson.

CDT is promoting LEP technology development and speeding its commercialisation through a global business strategy including co-developments with leading companies in a wide range of display and related technology areas. Founded in 1992, the company is headquartered in Cambridge, U.K. and has a LEP manufacturing development centre in Godmanchester, U.K.