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COLOR KINETICS DIVES INTO POOL AND SPA INDUSTRY WITH NEW OEM PARTNERSHIP
Leading Industry Manufacturer Embraces Color Kinetics' Patented Digital Technology;
Multi-Billion Dollar Markets to Get Much More Colorful
Via Chromacore-based Color-Changing Lighting
ORLANDO, FL, USA - 2000 NSPI Expo - November 9, 2000 - As part of its continuing success in actively extending its patented technologies into new markets, Color Kinetics Incorporated, the pioneer of full spectrum digital lighting, today announces its entrance into the worldwide multi-billion dollar pool and spa industry. As of today, Color Kinetics has formalized an OEM partnership with Leisure Bay Industries through which LBI will offer the company's innovative technology in its high-end portable spas and above-ground pools. (See press release dated 11/9/00, "Pools and Spas of Many Colors.") Color Kinetics is taking a multi-faceted approach to this market by pursuing additional OEM partnerships with leading pool and spa manufacturers, building strategic relationships with manufacturers of enabling technologies, and developing a line of after-market retrofit products. The company has worked with major suppliers to understand the unique requirements of this market, and has designed a new product family based on its patented Chromacore® color-changing LED (light emitting diode)-based digital lighting to meet the needs of rigorous pool and spa environments.
The pool and spa market is an ideal next step for Color Kinetics and its technology. The industry generated annual sales of over $8 billion in 1999 and is expected to reach equally strong numbers for 2000 (P.K. Data). A recent article in the Wall Street Journal declared that "today's...pools are about looks...and style," citing an increasing desire for and use of "new technologies" in accessories and features for both new pool owners and for the growing number that are giving their old pools a makeover. As with surrounding fencing and decking, pool and spa lighting-once viewed as strictly functional-is now seen as a differentiator and a way to create a specific mood for the overall pool and spa experience. Color Kinetics' innovative new method of creating and controlling colored lighting that eliminates many of the obstacles of conventional lighting options will capitalize on this trend.
Color Kinetics holds a U.S. Patent (#6,016,038) for its exclusive Chromacore technology, which uses microprocessor-controlled multi-colored LEDs to generate over 16.7 million colors and a variety of color-changing lighting effects. The inherent benefits of Chromacore make it ideal for use in a wide variety of applications, including pool and spa lighting. In contrast to conventional lighting techniques, which require gels, dimmers and moving parts to produce color and colored lighting effects, Chromacore generates colored light by using a microprocessor and semiconductor-based additive color mixing. In addition, Chromacore-powered products are compact, and offer an ultra-long source life of up to 100,000 hours. They use little power, produce virtually no heat or UV emissions, and create dynamic changing color without moving parts, all of which significantly extends the range of environments in which colored lighting effects can be used.
Color Kinetics designs, manufactures and markets a full line of products based on Chromacore that today are used in visual merchandising, architectural, entertainment, theatrical and signage applications. Since being developed and introduced by Color Kinetics in 1997, this entirely new type of lighting has been recognized by lighting and design professionals as a revolutionary invention, both technically and aesthetically. Color Kinetics has earned numerous industry awards for its technology, and has built a client list that reads like a "Who's Who" of the retail, entertainment and design industries.
Chromacore is an integral part of Color Kinetics' growing intellectual property portfolio, which includes U.S. and international filings encompassing a number of emerging digital technologies and applications. This combination of revolutionary technology and a strong intellectual property portfolio have wide-ranging consumer, OEM and licensing opportunities.
"Creating, marketing, selling and licensing a host of Chromacore-based products is a key focus of our company, and we are extremely excited to be working with industry leaders as we kick off Color Kinetics' entry into the pool and spa market," notes George Mueller, President and CEO of Color Kinetics. "Our technology offers companies and their customers a new way of adding brilliant color and dynamic colored lighting effects to pools and spas of all types and sizes, whether in their homes, backyards or in more public settings like hotels, resorts and theme parks."
While continuing to achieve success in the professional lighting space, Color Kinetics is supplementing its entry into the pool and spa market by expanding into other promising new markets for its technology. Look for Color Kinetics to continue to build a more bright and colorful world through additional technology developments and relationships with top companies in a variety of industries.
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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