|
COLOR KINETICS ENABLES INNOVATIVE PRODUCT LAUNCH
FOR SC JOHNSON
$7 billion consumer products giant licenses Color Kinetics’ intellectual property
to introduce Glade® PlugIns® Scented Oil Light Show
Boston, MA - August 2, 2006 - Color Kinetics Incorporated (NASDAQ: CLRK), a leading innovator of LED lighting systems and technologies, today announced the U.S. launch of SC Johnson’s Glade® PlugIns® Scented Oil Light Show, enabled by a license to Color Kinetics’ worldwide patent portfolio. SC Johnson is a $7 billion manufacturer of consumer household products that are distributed through traditional mass market channels, including Wal-Mart, K-Mart, Target, grocery stores and drug stores.
“With its universally recognized brands and massive market reach, we’re extremely pleased to call SC Johnson a licensee and to enable its unique use of LED technology for a broad, new consumer audience,” said Bill Sims, President and CEO, Color Kinetics. “We believe this relationship reflects not only the value of our intellectual property, but also the increasingly prevalent use of LED sources across diverse markets – from commercial lighting and entertainment to dynamic household products.”
The Glade® PlugIns® Scented Oil Light Show is a home fragrancing device that combines fragrance with a light show to provide a multi-sensory experience. The product leverages intelligent LED lighting technology that is covered by Color Kinetics’ intellectual property. Through the terms of the companies’ agreement, Color Kinetics will receive royalties based on net sales of the units.
Color Kinetics’ licensing business continues to gain momentum as rapid advancements in LED technology make it applicable to both existing markets and new product concepts. The company signed multiple licensing agreements in the second quarter, spanning architectural and entertainment lighting. Additionally, the company is pursuing a diverse list of prospective licensees in support of its mission to create a universal foundation for LED lighting – either through direct sales or through OEM and licensing.
“Their physical nature and capability for digital intelligence allow LEDs to infiltrate a whole new realm of products and applications – creating opportunities for manufacturers to enhance their product lines or enter new markets,” said Sims. “Color Kinetics intends to drive such cross-market adoption by making our well-established patent portfolio accessible to third parties like SC Johnson who recognize its value. We believe that our accelerating momentum in licensing will be bolstered by this exciting relationship.”
Color Kinetics entered into an exclusive licensing agreement with SC Johnson in 2002, providing access to its patent portfolio for certain SC Johnson products that display LED-based color-changing effects.
For additional information about Glade® PlugIns® Scented Oil Light Show, visit http://www.scentedoillightshow.com/.
About Color Kinetics
Color Kinetics Incorporated (NASDAQ: CLRK) transforms environments through new, dynamic uses of light. Its award-winning lighting systems and technologies apply the benefits of LEDs as a highly efficient, long lasting, environmentally friendly, and inherently digital source of illumination - reinventing light itself as a highly controllable medium. Color Kinetics also enables widespread adoption of LED lighting through OEM and licensing partnerships in diverse markets. The company is headquartered in Boston, MA with offices in the UK, China, and Japan. More information is available 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, 2005, File Number 000-50798, and most recent 10-Q, each as filed with the Securities and Exchange Commission.
Contact Info
|
