The EXtended Range format (.exr) was made available as an open-source C++ library in 2002 by Industrial Light and Magic. It is based on a 16-bit half floating-point type, similar to IEEE float with fewer bits. Each RGB pixel occupies a total of 48 bits, broken into 16-bit words. The Half data type is also referred to as S5E10, for "sign, five exponent, ten mantissa." The OpenEXR library also supports full 32-bit/channel (96-bit/pixel) floats and a new 24-bit/channel (72-bit/pixel) float type introduced by Pixar.
Source - High Dynamic Range Imaging: Acquisition, Display and Image-Based Lighting
(Erik Reinhard, Greg Ward, Sumanta Pattanaik, Paul Debevec)
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