Competitive Technologies Signs Marketing Agreement for Over 50 LED Patented Technologies
Competitive Technologies, Inc. (AMEX: CTT) announced today that it has signed a marketing and royalty sharing agreement with a Fortune 100 company to license and commercialize their group of over 50 U.S. patents related to Light Emitting Diodes (LEDs). The LED industry, also referred to as Solid State Lighting (SSL), is undergoing rapid growth and is projected to be a $7 billion industry in three years.
"LED technologies achieve energy efficiency with high-quality, efficient and safe products for lighting purposes," said Joe Ausikaitis, CTT's Senior Business Development Executive." The technology has created an environmentally cost-effective method for society to move away from the 125-year-old incandescent lighting and 70-year old florescent lighting technologies to reduce energy consumption by 30 to 70 per cent. The addition of these high value patents to CTT's existing portfolio of large area LED plasma display, Flip Chip and other LED technologies, allows CTT to effectively broaden its target of companies seeking innovative technologies in this market space. The technologies in this new agreement relate to the full LED value chain -- chips, phosphors, packaging and encapsulants."
According to the National Electrical Manufacturers Association, the domestic luminaire industry is currently a $4.5 billion market, with outdoor at $1.5 billion and indoor at $3.0 billion. The Department of Energy has proposed a plan that supports the sale of five million SSL luminaires per year and achieving annual energy savings of 19 terrawatt hours by 2012.
The Optoelectronics Industry Development Association states that white High Brightness LEDs will fuel growth of the LED markets to surpass $14 billion by 2017, driven by solid state lighting, automotive and signs/displays. The solid state lighting market is expected to grow to over 30% of the total lighting market by 2017, and is forecasted to grow to over $60 billion over the next decade, composed predominantly of HBLEDs.
"We continue our interest in obtaining technologies in rapidly growing industries," said John B. Nano, CTT's Chairman, President, and CEO. "In addition to this new technology, we are aggressively marketing our recently acquired pain management technology and stress reduction technology, as well as our other technologies, including our HB LEDs, bone biomaterial, cholesterol trapping and regeneration, and Lupus diagnostic and monitoring, to drive revenue growth, improve profitability and create shareholder value."
About Competitive Technologies:
Competitive Technologies, established in 1968, is a full service technology transfer and licensing provider focused on the technology needs of its customers and transforming those requirements into commercially viable solutions. CTT is a global leader in identifying, developing and commercializing innovative technologies in life, electronic, nano, and physical sciences developed by universities, companies and inventors. CTT maximizes the value of intellectual assets for the benefit of its customers, clients and shareholders. Visit CTT's website: www.competitivetech.net
