UTEK Corporation Completes Technology Transfer with Cyberlux Corporation
UTEK Corporation Press ReleaseFlashlightNews.org - 11/16/2006
Transfer Includes Worldwide License for Technology to Create Improved Light Emitting Diodes
Everon from Cyberlux
TAMPA, Fl. - UTEK Corporation (AMEX:UTK) (LSE-AIM:UTK), a specialty finance company focused on technology transfer, and Cyberlux Corporation (OTCBB:CYBL), a provider of LED lighting solutions, today announced that Cyberlux has acquired SPE Technologies, Inc. a wholly owned subsidiary of UTEK Corporation in a restricted stock transaction.
Prior to the Cyberlux acquisition, SPE Technologies, Inc. held the worldwide exclusive license to a number of pending patents for the Scattered Photon Extraction™ (SPE) methodology, developed at Rensselaer Polytechnic Institute. These packages are designed to enable higher luminous efficacy with down-converted white light illuminators constructed with Light Emitting Diodes (LED). In contrast to traditional white LED packages, the SPE packages place the phosphor and/or down-conversion materials, such as quantum dots, at locations remote from the LEDs. The optic surrounding the LED’s die is shaped to extract a significant portion of the down-converted white light that is otherwise absorbed and lost as waste heat within the traditional LEDs packages.
“The SPE technology increases light output and efficacy of white LEDs, and could play a important role in the evolution of white LEDs for lighting in homes and offices,” said Nadarajah Narendran, Director of Research at Rensselaer’s Lighting Research Center, where the technology was developed.
“This newly acquired technology gives Cyberlux the ability to ultimately hold the proprietary rights to a technology that could provide major advancements in the LED marketplace,” says Mark Schmidt, President, Chief Operating Officer of Cyberlux Corporation. “With the development of the SPE technology, the Rensselaer researchers have developed what we believe to be novel white LED packages that may achieve a brighter, more efficient illumination system. We hope that this acquisition will bring a greater value to our company and compliment our existing suite of products sold both to the commercial and residential lighting market,” added Schmidt.
“UTEK is pleased to consummate this technology transfer between Rensselaer Polytechnic Institute and Cyberlux Corporation,” said Claire Guyer, Manager of Technology Licensing at UTEK Corporation.
About Rensselaer Polytechnic Institute
Rensselaer Polytechnic Institute, founded in 1824, is the nation’s oldest technological university. The university offers bachelor’s, master’s, and doctoral degrees in engineering, the sciences, information technology, architecture, management, and the humanities and social sciences. Institute programs serve undergraduates, graduate students and working professionals around the world. Rensselaer faculty are known for pre-eminence in research conducted in a wide range of fields, with particular emphasis in biotechnology, nanotechnology, information technology, and the media arts and technology. The Institute is well known for its success in the transfer of technology from the laboratory to the marketplace so that new discoveries and inventions benefit human life, protect the environment and strengthen economic development.
For more information about Rensselaer Polytechnic Institute, please visit its website at www.rpi.edu.
About Cyberlux Corporation
Cyberlux Corporation engages in the development, manufacturing and marketing of LED solutions for retail, commercial and industrial uses, primarily in the United States markets. The Company offers a family of products for task and accent lighting, emergency and security lighting, and specialized lighting systems for the residential, commercial, military, and homeland security markets. The Company’s products include the “WatchDog” and “BrightEye” portable military lighting products such as the “EverOn” and “RelyOn”; the “Aeon” residential lighting solutions; and specialty lighting, such as the “KeOn” product.
For more information about Cyberlux, please visit its website at www.cyberlux.com.
About UTEK Corporation
UTEK® is a specialty finance company focused on technology transfer. UTEK’s services enable companies to acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and acquisition of external technologies for clients in exchange for their equity securities. This unique process is called U2B®. In addition, UTEK offers companies the tools to search, analyze and manage university intellectual properties. UTEK is a business development company with operations in the United States, United Kingdom and Israel.
For more information about UTEK, please visit its website at www.utekcorp.com.