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COLOR KINETICS NAMED "RISING STAR" IN THE NEW ENGLAND TECHNOLOGY FAST 50 PROGRAM
Company Attributes Award-Winning Growth Rate to Pioneering Intelligent LED-Based Lighting Technology and Comprehensive Intellectual Property Portfolio
BOSTON - August 15, 2001 - Color Kinetics Incorporated today has been named a "Rising Star" as part of the prestigious New England Technology Fast 50 Program, an annual ranking of the fastest-growing technology companies in the area presented by Deloitte & Touche and Hale and Dorr LLP and sponsored in association with Mazonson, Nasdaq, Trinity Communications and Mass High Tech, The Journal of New England Technology. Rising Star rankings are based on the percentage of growth in revenues over a three-year period (1998-2000); Color Kinetics has experienced phenomenal growth since its inception in late 1997, resulting in being named to this listing of the top young technology companies in New England.
Color Kinetics' co-founders, CEO George Mueller and Chief Technology Officer Ihor Lys, credit the company's pioneering "disruptive" digital lighting technology, an emphasis on strong sales and marketing, and a focus on developing a solid, diverse intellectual property portfolio with the company's revenue growth over the past three years. "We're very excited to be recognized as a Rising Star on New England's competitive technology scene. This award reinforces our position as a technology company within an industry traditionally considered outside the technology elite: lighting," says Mueller. Color Kinetics manufactures cutting-edge digital lighting products based on the company's patented LED-based (light emitting diodes) lighting technology, Chromacore®, which uses microprocessor-controlled, multi-colored LEDs to generate millions of colors and a variety of dynamic lighting effects. Through the use of LEDs as an illumination source, Color Kinetics' technology offers several benefits beyond those of traditional light sources, including an ultra-long source life, low power consumption, no UV (ultra violet) emissions, and extremely low heat output. The inherent benefits of Chromacore technology make it possible to incorporate color and light into a wide range of applications well beyond the ways it is used today. Color Kinetics counts some of the world's leading companies as its customers, including Disney, Sony Loews, Circuit City, Sheraton, Royal Caribbean Cruise Lines, Limited Inc., Saks Fifth Avenue, Foxwoods Casino and Boston Symphony Hall.
"To make the 2001 Rising Star list, companies must have sustained significant revenue growth in 2000, a year that many technology companies were finding it difficult just to stay solvent," says Steve DiPietro, co-chair of the New England Technology Fast 50 program for Deloitte & Touche. "We at Deloitte & Touche applaud Color Kinetics for having the long-term vision to develop technologies that kept them growing while many competitors faded away," he adds.
Now in it's second year, the program's Rising Star category honors technology companies that have posted significant growth and have been in business for at least three years, but less than five years. Ten companies are named annually as Rising Stars on their way to becoming New England Technology Fast 50 companies in the future. To qualify, companies must have had operating revenues of at least $50,000 in 1998 and $1,000,000 in 2000; must be public or private companies headquartered in Massachusetts, New Hampshire, Maine, Rhode Island or Vermont; and be "technology companies" defined as companies that produce technology, manufacture a technology product, or devote a high percentage of effort to research and development of technology. Winners of the 22 regional Fast 50 programs and Rising Star categories in the United States and Canada are automatically entered in the Deloitte & Touche Technology Fast 500 program, ranking North America's top 500 fastest growing technology companies. Rankings for Fast 50 and Rising Star winners will be announced September 11. For more information on the Deloitte & Touche Fast 50 or Fast 500 programs, visit www.fast50.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.
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