The goal is to develop self-powered OLed lighting products

These products could have a wide variety of uses from military ships to night-time jogging vests, they said in a statement on Thursday. The collaboration is supported by an Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation programme.

The joint project will combine Power Paper's paper-thin, flexible, environment-friendly batteries and GE's Organic Light Emitting Diode (OLed) technology, which the company describes as wallpaper that lights up.

The goal is to develop self-powered OLed lighting products and identify next generation technologies during the next year.

"We will build a product that costs less, consumes less energy with improved reliability and resists vibration and shock," said John Ouseph, GE commercial & industrial business programs manager.

"Mobile, remote-powered light strips are a natural extension of GE's Lighting portfolio," he said.

The lighting market is estimated to be worth $2.5 billion.

Zvika Nitzan, chief technology officer of Power Paper, said the company's batteries do not contain caustic chemicals and cannot overheat, explode, or cause burns or electrical shock.

Power Paper's investors are led by Infinity Group and include Apax Partners, Amadeus Capital Partners and Bank of America Capital Partners.

The goal is to develop self-powered OLed lighting products