COLOR KINETICS AND TIREFLYS ANNOUNCE LICENSING AGREEMENT
Color Kinetics' Chromacore® technology and intellectual property to power industry's first intelligent LED-based under car lighting system for Tireflys®
SEMA Show - Las Vegas, NV - November 5, 2003 - Color Kinetics Incorporated and Tireflys® today announced an agreement designed to bring industry-leading LED illumination technology to the fast growing market for automotive aftermarket lighting. Tireflys will license Color Kinetics' patented Chromacore® technology and intellectual property to offer an under car lighting kit with integrated intelligence to enable millions of colors and color-changing lighting effects - all while exhibiting the low-maintenance, long-life benefits of LED sources.
The first-of-its-kind Tireflys lighting kit, called ColorMorphics™, is slated for availability in January 2004, with a prototype on display at the SEMA Show in Las Vegas this week (Tireflys booth #20231).
"This agreement marks yet another innovative application of Color Kinetics' proven technology, and we're pleased to work with Tireflys to demonstrate the value of intelligent LED illumination for automotive aftermarket lighting," said Bill Sims, President and COO, Color Kinetics. "This relationship will enable a unique and powerful offering for Tireflys customers in another vertical market for Color Kinetics."
"Color Kinetics' industry-leading LED technology and expertise will significantly enhance the Tireflys line," said Tireflys Co-founder Daniel Deutsch. "The new lighting kit will allow a whole new realm of creative possibilities by joining intelligent LED technology with the ever-growing popularity of Tireflys."
The ColorMorphics kit, which includes the central processing unit (CPU), cable connectors, easy-to-use wireless remote control and two one-foot Morph Sticks™, will retail from $199. Additional Morph Sticks, which quickly install with a unique clipping system, will retail for $59.95. It can also be used to highlight a car's interior. ColorMorphics will be in stores by late January 2004. By early spring, Tireflys will offer the expandability of plug-in modules. A video interface module and SD ram slot module will allow the exchange of custom programs through the Internet.
Chromacore is a pioneering, patented technology that applies microprocessor-controlled, multicolored, high-brightness LEDs to generate rich, saturated colors and color-changing effects without the cost and efficiency constraints of conventional lighting methods. By leveraging this technology to power ColorMorphics, Tireflys will offer the aesthetic benefits of color and color-changing effects, along with ultra-long source life, ruggedness, low energy consumption, and low maintenance requirements.
Digital images available upon request.
About Tireflys
Headquartered in Orlando, Fla., Tireflys innovated the patented motion-activated valves stem lights for cars, motorcycles and bicycles. Within the last three years, they've sold nearly15 million units at 60,000 retail locations throughout the world. With dozens of new SKU's, the company is poised to maximize the profit potential for their dealers, while offering the consumer creative new choices. For sales and distribution information, call 866-TIREFLY (407-822-8098). For more information on ColorMorphics and other automotive lighting products, visit www.tireflys.com.
About Color Kinetics
Color Kinetics Incorporated is the pioneer of intelligent solid-state illumination technologies. The company designs, manufactures and markets an award-winning line of products that apply the practical and aesthetic benefits of LEDs to transcend the limits of traditional light sources for use in professional, consumer, and OEM and licensing applications. Its flagship line of technologies leverage a patented layer of digital intelligence, called Chromacore®, to generate and control millions of colors and dynamic lighting effects. Color Kinetics leads the industry in solid-state lighting innovation, including the custom engineered Chromasic® microchip, and holds a growing patent portfolio encompassing a number of emerging digital technologies. Founded in 1997, the company is privately held and is headquartered in Boston, MA with offices in the UK, China, and a joint venture in Japan. More information can be found at http://www.colorkinetics.com.
Tireflys® is a brand owned by Theory3 Inc.
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