Competitive Technologies to commercialize optical technology for LED lighting market
Competitive Technologies, Inc. today announced that it has signed an exclusive, worldwide service and representation agreement with Illumitex, LLC to license optical technology for the light emitting diode ("LED") industry. The technology is a fundamental and enabling primary optical device that significantly improves the effectiveness of High Brightness LEDs ("HBLEDs").
An LED is a semiconductor device that produces narrow-spectrum light when a current is applied. The advantages of LEDs over traditional light sources are that they have an extremely long life span and they do not generate significant heat. Illumitex`s patent-pending LED optics technology increases brightness and efficiency of HBLEDs through its unique optical properties and packaging design. This technology has a number of potential applications across a variety of sectors, including flat panel televisions, portable electronic devices, and digital projectors.
The HBLED market has experienced tremendous growth in recent years, reaching $3.9 billion in 2005. (source: Strategies Unlimited). With an annual projected growth rate in the range of 15-20%, the HBLED market represents a significant opportunity for the Illumitex technology. "Most of the previous LED research focus has been on the primary diode and electronics while this technology is focused on enhancing the performance of existing HBLEDs. This late stage optical technology can be implemented quickly by manufacturers of HBLED semiconductor chips. The unique and proprietary design uniformly doubles the intensity of the device without increasing power consumption, size, or manufacturing costs," commented Joseph Ausikaitis, Senior Business Development Executive for Competitive Technologies.
"As we work to aggressively expand our portfolio of available technologies, the HBLED innovation with proven effectiveness is a strong addition to our physical sciences offering," added D.J. Freed, Ph.D., President and Chief Executive Officer of Competitive Technologies. "Commercializing late-stage technologies is one of CTT`s strengths, and we look forward to bringing this exciting technology to the global marketplace."
About Illumitex, LLC
Illumitex was founded in early 2005 and is headquartered in Austin, Texas. The company`s self-funded activities to date have included two successful phases of prototype development, readying its LED optical device for production. The management team represents over 60 years of combined experience in optics, electronics and entrepreneurial business management.
About Competitive Technologies, Inc.
Competitive Technologies, established in 1968, is a full service technology transfer and licensing provider, focused on bringing the intellectual property assets of its clients to the marketplace. CTT specializes in identifying, developing and commercializing innovative technologies in a variety of areas, including life and physical sciences, electronics, and nanotechnologies. Through its global distribution platform, CTT maximizes the value of its clients` intellectual property assets.
