SOURCE: Bridgelux

Bridgelux

December 20, 2011 14:43 ET

Bridgelux Poised for Rapid Growth and Increased Leadership in LED Lighting Market

New Customers, Technology Innovations, Additional Funding All Add to Company's Strengths and Ability to Seize Market Opportunities

LIVERMORE, CA--(Marketwire - Dec 20, 2011) - Bridgelux, a leading developer and manufacturer of LED lighting technologies and solutions, reported today that market conditions and its recent achievements ideally position it for additional growth and leadership in 2012. The company's revenue grew an extraordinary 792% from FY 2006 to 2010, and Bridgelux expects to see an additional 100% year over year growth by the end of 2011. During the past year, the company raised $76M in additional funding, added several noteworthy customers, introduced innovative products and technology and received numerous industry awards.

The LED luminaire market is poised for dramatic expansion, with analysts predicting growth of 40% (CAGR) through 2015.1 Recognizing its potential, prominent financial and strategic investors cast their vote of confidence in the market overall, and Bridgelux in particular by investing a total of $76M in the company this past year.

"We're seeing significant increases in adoption and demand for LED lighting in many sectors and regions. In fact, we've experienced a 300% unit volume growth in LED array sales in the past year alone, dramatically increasing our market share while also delivering well over 100M high power LED chips to enable new and innovative product designs," said Bill Watkins, Bridgelux's Chief Executive Officer. "Going forward, Bridgelux is extremely well positioned to meet rising demand: we're well funded, have some of the industry's most innovative technologies and product designs, and have established strong strategic partnerships."

Bridgelux Growth in the Regions, Retail and Hospitality Sectors
Retail and hospitality are among the most promising near term sectors for the LED lighting market, with growth (CAGR) from 2010 to 2015 predicted to be 59% for retail and 54% for hospitality2. Geographically speaking, Europe in particular has great market potential, with analysts predicting 101% (CAGR) growth from 2009 to 20153. Bridgelux recently expanded its customer base in all of these sectors, adding to both its hospitality and retail customer base with installations at The Sheraton Hotel at D-Cube City in Seoul, Intersport Austria in Klagenfurt, the Dior fragrance booth at the "Galeries Lafayette" in Paris, Coop Adriatica stores in Italy, and over 40 Manor department store locations throughout Europe with several more installations scheduled for the first quarter of 2012.

Technology Breakthrough, Awards
A large part of Bridgelux's success can be attributed to its technology innovations. In August of this year, the company extended its lead in the performance and manufacturability of GaN LEDs on silicon substrate when it shattered its previous industry record for highest Lumen per Watt values for Gallium Nitride on Silicon (GaN-on-Si).

Bridgelux's technology innovations have all been recognized by prestigious industry organizations, as has its market potential and impact, strong management and growth. This past year alone, the company was named to the Global Cleantech 100 and the Forbe's list of America's Most Promising Companies; was ranked number 135 on Deloitte's 2011 Technology Fast 500 list; and was chosen by AlwaysOn as one of the GoingGreen Global 200 winners.

About Bridgelux

Bridgelux is a leading developer and manufacturer of technologies and solutions transforming the $40 billion global lighting industry into a $100 billion market opportunity. Based in Livermore, California, Bridgelux is a pioneer in solid state lighting (SSL), expanding the market for light-emitting diode (LED) technologies by driving down the cost of LED lighting systems. Bridgelux's patented light source technology replaces traditional technologies (such as incandescent, halogen, fluorescent and high intensity discharge lighting) with integrated, solid state lighting solutions that enable lamp and luminaire manufacturers to provide high performance and energy-efficient white light for the rapidly growing interior and exterior lighting markets, including street lights, commercial lighting and consumer applications. With more than 550 patent applications filed or granted worldwide, Bridgelux is the only vertically integrated LED manufacturer and developer of solid state light sources that designs its solutions specifically for the lighting industry. For more information about the company, please visit www.bridgelux.com

1 IMSresearch, The World Market for Lamps & Luminaires in General & Exterior Lighting, July 8th, 2011
2 IMSresearch, The World Market for Lamps & Luminaires in General & Exterior Lighting, July 8th, 2011
3 IMSresearch, The World Market for Lamps & Luminaires in General & Exterior Lighting, July 8th, 2011

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