TROY, Mich., June 20, 2012
ilumisys, Inc., developer and producer of next-generation solid-state lighting technology, announced today that it has granted a license for light-emitting diode (LED) fluorescent tube replacements to LED Global Supply, a global distributor of LED lighting solutions based in Westlake Village, Calif.
The ilumisys licensing program allows LED Global Supply to provide LED lighting products to the market at a competitive price. The licensing agreement provides for royalty payments in exchange for rights to manufacture and sell products covered by the patent portfolio of ilumisys' parent company, Altair Engineering.
"We provide outstanding value to our customers by our careful product selection, competitive pricing and the development of critical industry relationships," said Michael Paganelli, founder and president of LED Global Supply. "By forming this partnership with ilumisys, LED Global Supply will further ensure the delivery of quality products to our customers and promote a higher standard of quality throughout the industry."
With more than 10 years in the LED marketplace, LED Global Supply is one of the nation's leading distributors of LED lighting, including LED light bulbs, dimmable LED light bulbs and accessories.
"By providing licensees access to our patent portfolio, we can help ensure that a variety of products enter the market and continue to increase the vitality of our industry," said Dave Simon, president of ilumisys. "The LED industry has been growing rapidly over the past few years and we have great confidence that it will continue to accelerate as the demand for advanced solid-state lighting increases."
Solid-state lighting technology has the potential to cut U.S. lighting energy usage by one-quarter and contribute significantly to the nation's climate-change solution, according to the U.S. Department of Energy (DOE). According to a recent report from the DOE, it is estimated that switching to LED lighting over the next two decades could save the country $250 billion in energy costs over that period, reduce the electricity consumption for lighting by nearly one half, and avoid 1.8 billion metric tons of carbon emission
ilumisys, formed in 2007, is a spinoff of Altair, a global software and technology company that has a growing presence in the energy market. With the backing of Altair, its majority owner, ilumisys has a deep and substantial investment in research and development that includes nine issued patents and more that 70 filings to date.
ilumisys, Inc. is a Troy, Mich.-based company focused on next-generation solid-state lighting technology. The company was formed in 2007 as a spinoff venture and wholly owned subsidiary of Altair Engineering, Inc. Products are derived from Altair's intellectual property for the direct replacement of fluorescent light tubes with light-emitting diode (LED) lamps and direct replacement of incandescent lamps. For more information, please visit www.ilumisys.com.
Altair Engineering, Inc. empowers client innovation and decision-making through technology that optimizes the analysis, management and visualization of business and engineering information. Privately held, with more than 1,500 employees, Altair has offices throughout North America, South America, Europe and Asia/Pacific. With a 26-year track record for high-end software and consulting services for engineering, high-performance computing and enterprise analytics, Altair consistently delivers a competitive advantage to customers in a broad range of industries. To learn more, please visit www.altair.com and www.simulatetoinnovate.com.
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