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New York buildings racking up big energy bills may soon be able to breathe a sigh of relief. Thanks to new OLED (Organic Light Emitting Diode) technology, lighting will be getting greener, healthier and much more energy efficient.

This November, LG Chem, Korea’s largest chemical company, will bring their new OLED panels into production. The new panels will boast 100 lumens per watt, a life of 40,000+ hours (a world’s best, outperforming Osram, Philips, and Panasonic; and almost on par with conventional LEDs), and be flexible enough to be used in everything from automotive to architecture. Currently plans are to focus distribution on markets in North America and Europe, and so far LG Chem has secured contracts with more than 50 lighting companies, including Atlanta-based Acuity Lighting.

More on the technology here