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COLOR KINETICS JOINS
NEXT GENERATION LIGHTING INDUSTRY ALLIANCE
Supports government-industry partnership to accelerate solid-state lighting for
energy efficiency
Boston, MA - August 10, 2005 - Reflecting its pioneering role as an innovator and advocate for intelligent solid-state lighting, Color Kinetics Incorporated (NASDAQ: CLRK) today joined the Next Generation Lighting Industry Alliance (NGLIA) - an organization that partners with the U.S. Department of Energy to accelerate the advancement of solid-state lighting as an important energy-conserving technology.
The NGLIA is administered by the National Electrical Manufacturers Association (NEMA), of which Color Kinetics is also a member. The organization works in conjunction with the U.S. Department of Energy's Solid-State Lighting Program to support research and development and to lobby on behalf of solid-state lighting issues, including increased funding. The goal is to accelerate the technical foundation and commercialization of solid-state lighting systems which, according to a 2005 Department of Energy report, could net cumulative energy expenditure savings of $25 billion between 2005 and 2025.
"Adoption of intelligent solid-state lighting is on the rise, thanks in part to its proven energy efficiency. While its impact is already felt in specialized applications today, the technology has potential for energy savings on a much larger scale as it becomes more applicable to general illumination, and subsequently becomes more widely used," said Bill Sims, President and CEO, Color Kinetics. "On the heels of Monday's landmark signing of the Energy Policy Act of 2005, we're pleased to align with both government and industry leaders through the NGLIA to help bring solid-state lighting to the national and global forefront. This includes supporting the research, development, and education required for solid-state lighting to cross the threshold into general illumination."
"Now more than ever, we have an opportunity to accelerate solid-state lighting by bringing a manufacturing and commercialization focus to the government's research and development efforts," said Kyle Pitsor, Vice President of Government Relations, NEMA. "Color Kinetics brings tremendous value to the cause, with knowledge gained from its own extensive R&D program and proven methods for applying solid-state sources in viable, commercially successful lighting systems. We're pleased to welcome Color Kinetics to the Alliance and look forward to their contributions."
Today Color Kinetics customers realize significant energy savings through reduced electricity. For example, the Hard Rock Hotel and Casino in Las Vegas anticipated energy savings of $16,000 annually after replacing its exterior metal halide system with Color Kinetics' LED-based system. Additionally, the Fairmount Park Commission in Philadelphia expects to reduce energy expenditures from $8,000 to $1,000 annually since replacing the incandescent lights of Boathouse Row with a Color Kinetics system. As LED technology continues to advance, assisted in part by the work of the NGLIA, it will become more applicable to general illumination, and therefore allow even greater potential for energy savings on a broad scale.
About Color Kinetics
Color Kinetics Incorporated (NASDAQ: CLRK) is a leading innovator of intelligent solid-state lighting -- enabling light without limits™. The company's award-winning product lines apply the benefits of LEDs to transform the way light is produced, controlled and applied, advancing the adoption of cost- and energy-efficient lighting worldwide. Its systems leverage a patented layer of digital intelligence, called Chromacore®, to generate and control color and white light for use in high-performance lighting and OEM and licensing applications. The company's investment in research and development is reflected by its wide-ranging intellectual property portfolio. Founded in 1997, the company is headquartered in Boston, MA with offices in the UK, China, and Japan. More information can be found at www.colorkinetics.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Color Kinetics Incorporated's business that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements involve risks and uncertainties, are only predictions and may differ materially from actual future events and results. For a discussion of such risks and uncertainties, see "Risk Factors" in the Company's Annual Report on Form 10-K for the Twelve Months Ended December 31, 2004, File Number 000-50798, and most recent 10-Q, each as filed with the Securities and Exchange Commission.
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