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UTEK Corporation Completes Technology Transfer with Cyberlux Corporation

UTEK Corporation Press Release

FlashlightNews.org - 1/16/2007

Transfer Includes Worldwide Exclusive License for Technology to Improve Efficiency
of Light Emitting Diodes

Everon Emergency Lighting

Everon Emergency Lighting

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 Hybrid Lighting Technologies, Inc., a wholly owned subsidiary of UTEK Corporation in a restricted stock transaction.

Hybrid Lighting Technologies, Inc. holds a worldwide exclusive license for an inorganic light emitting source for LEDs developed at the University of California-Santa Barbara. The technology provides for the method and practice for creating a white or multiple colored lighting source by combining the photoluminescence from polymer and/or organic films with emissions from an electrically-powered, solid state, inorganic light source.

“We are enthusiastic about the potential for this technology to improve the efficiency and appearance of LED products,” said Alan Heeger, Ph.D., Professor at the University of California-Santa Barbara.

“We believe this technology may provide a competitive advantage for us in our target markets,” said Mark Schmidt, President and Chief Operating Officer of Cyberlux Corporation. “We are particularly excited to be working with Dr. Alan Heeger, a Nobel Laureate in Chemistry, and inventor of the technology.”

“UTEK is pleased to consummate this technology transfer with Cyberlux Corporation,” said Claire Guyer, Manager of Technology Licensing at UTEK Corporation.

About The University of California-Santa Barbara

Originally a small, independent teachers’ college, Santa Barbara joined the renowned University of California system in 1944 and has since grown to be an integral and important part of public postsecondary education in the state. Pioneering research is a critical component of the highest quality education. UCSB’s 1,000-member faculty includes five Nobel Prize winners and scores of elected members of national and international academies and societies as well as dozens of winners of Guggenheim and Fulbright Fellowships. The campus is one of only 62 research-intensive institutions elected to membership in the prestigious Association of American Universities. In the humanities and the arts as well as in engineering and the sciences, UCSB introduces students to novel ways of thinking, learning, and conducting research. For more information about the University of California-Santa Barbara, please visit its website at www.ucsb.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; consumer retail products such as the “EverOn” and “RelyOn”; the “Aeon” task 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.