Color Kinetics and Element Labs Announce Licensing Agreement
Boston, MA and Austin, TX - March 27, 2007 - Color Kinetics Incorporated and Element Labs, Inc. today announced a global cross-licensing agreement, fostering on-going product development in the entertainment-focused market for intelligent LED lighting. Element Labs will acquire access to Color Kinetics' complete patent portfolio, enabling the development and sale of certain LED-based product lines worldwide.
Element Labs is a prominent manufacturer of LED systems that merge lighting and video in a wide range of theatrical, touring, television and other entertainment applications. Its systems have been used in many high-profile projects around the world, including three of the last four Super Bowl halftime shows, the 49th Annual Grammy Awards, and the concert tours of Madonna, the Dixie Chicks, Red Hot Chili Peppers, Tom Petty and Coldplay, among many others.
Several of Element Labs' intelligent LED product lines apply Color Kinetics' proprietary control methods to generate millions of colors and video-based lighting effects. As such, Element Labs will pay royalty fees on the sales of these products in all markets covered by Color Kinetics' patent portfolio. Element Labs will also grant Color Kinetics a license to certain patents owned or controlled by Element Labs.
"Both Color Kinetics and Element Labs have achieved substantial success in the entertainment lighting space, where LEDs already far outweigh the capabilities of conventional sources in most color applications. Adding Element Labs to our roster of licensees in this sector not only reflects the weight of our intellectual property; it points to the increasing convergence of intelligence and LED sources - a trend that we believe will ultimately touch all uses of light," said Bill Sims, President and CEO, Color Kinetics. "Our licensing program continues to gain momentum as more manufacturers across various industries recognize the power that digital intelligence can afford."
"We are witnessing remarkable demand around the world for our cutting-edge LED systems, which provide an economical and easy-to-install alternative to conventional video screens," said Nils Thorjussen, President and CEO, Element Labs. "As we continually look to take advantage of rapidly improving LED technology, we think it's important to work with Color Kinetics, whose pioneering R&D and resulting intellectual property have led the market."
Intelligent LED lighting technology is increasingly displacing conventional lighting methods in the entertainment and event production markets, particularly in color lighting applications. Unlike conventional sources, LED lighting systems require no gels, filters, or mechanical scrollers to generate color and dynamic effects. In addition, they're well suited for creating flexible grids and modular displays for low-resolution video effects that are commonly applied as stage backdrops or dynamic set pieces.
About Color Kinetics
Color Kinetics Incorporated 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 and China. More information is available at www.colorkinetics.com.
About Element Labs
Element Labs, Inc., headquartered in Austin, Texas with offices in Germany and the UK, is a global leader in design, manufacturing and support of cutting-edge LED video technology to the entertainment, architectural, and signage industries. Their award-winning products and customized solutions give designers the freedom to innovate and realize their creative visions. For more product information, please visit: www.elementlabs.com.
Contact Info
Felicia Spagnoli:
fspagnoli@colorkinetics.com
Media Relations
Color Kinetics Incorporated
617-701-2292
Isa Flores
Element Labs, Inc.
512 491 9111 x7129
isa@elementlabs.com
