GE Licensing ("GEL"), Current Lighting Solutions, LLC ("Current"), Savant Systems Inc. and Seoul Semiconductor Co., Ltd. ("SSC") today announced that they have entered into a patent license whereby SSC acquired a license to a PFS (also known as KSF) patent portfolio for all application fields widely licensed by the LED industry.
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$1B Company by 2nd Generation Technologies (Graphic: Seoul Semiconductor Co., Ltd.)
Thanks to this collaborative agreement, Seoul Semiconductor has emerged as the unique beneficiary of GEL's PFS patent portfolio for all applications, such as display, lighting, and automotive, among others. The impact of this agreement in the emerging electric vehicle sector is anticipated to be especially critical, where the parties anticipate the benefits of in-vehicle displays and lighting containing PFS to significantly reduce power consumption.
"We are pleased to welcome SSC back to the ranks of our PFS licensees, so that we can both focus on innovating and creating LED products that are critical to the world," said Patrick Patnode, President of GE Licensing.
"Seoul Semiconductor, as a company that respects intellectual property rights, values the patent portfolios of GE Licensing, Current Lighting and Savant. The rights granted today in this license agreement further strengthens Seoul Semiconductor's 2nd Generation Patent Portfolio of 18,000 patents and significantly enhances our ability to move products to the market," said Chung H. Lee, founder of Seoul Semiconductor and Seoul VioSys.
About Seoul Semiconductor
Seoul Semiconductor is the world's second-largest global LED manufacturer, a ranking excluding the captive market, and has more than 18,000 patents. Based on a differentiated product portfolio, Seoul offers a wide range of technologies, and mass produces innovative LED products for indoor and outdoor lighting, automotive, IT products, such as mobile phones, computer displays, and other applications, as well as the UV area. Seoul's world's first development and mass production products are becoming the LED industry standard and leading the global market with a package-free LED, WICOP; a high-voltage AC-driven LED, Acrich; an LED with 10X the output of a conventional LED, nPola; a cutting edge ultraviolet clean technology LED, Violeds; an all-direction light emitting technology, filament LED; a natural sun spectrum LED, SunLike; and more. For more information, please visit www.seoulsemicon.com/en, YouTube, LinkedIn.
About GE Licensing
GE Licensing is a leading provider of innovative intellectual property solutions with a proven approach to identifying value in intangible assets and unlocking their full potential. GE Licensing goes beyond traditional licensing models to drive innovation and create value-filled transactions for its licensees and partners. GE Licensing firmly believes that building partnerships is the key to long-term IP monetization. To this end, GE Licensing continuously invests in R&D as well as offering their partners training and guidance, capital investment, and even helps establish new companies to take technology to the market.
About Current Lighting
Current is a versatile, customer-driven lighting solutions company that solves the challenges of businesses and partners around the globe. With the industry's widest selection of advanced lighting and intelligent controls, we create safer, efficient, inspired environments powered by smart, sustainable technologies, reliable performance, responsive service, and uncompromising quality you can expect from us. We are Current. We are always on. Learn more at currentlighting.com/discover.
About Savant
Headquartered in Massachusetts, Savant Systems, Inc., is a global leader in smart home, intelligent lighting and energy solutions for consumers, businesses, utility companies and more. Along with GE Lighting, a Savant company and Savant Power, Savant Systems, Inc. offers the most diverse portfolio of DIY and professionally installed smart products available at thousands of leading retail stores and through a network of authorized integrators. Engineered to customize any space, Savant's innovative solutions unite all the vital pillars of any connected environment climate, lighting, entertainment, security, and energy together into a premier integrated experience controlled by intuitive award-winning software for iOS and Android. Learn more at savant.com.
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Contacts:
For more information, please contact:
Seoul Semiconductor Co., Ltd.
Jinseop Jung
+82-1566-2771
jjs8732@seoulsemicon.com
GE Licensing
Naomi Jacob, Marketing Communications Lead
naomi.jacob@ge.com
Current Lighting
Bill Cohen, VP GM Chemicals Division
bill.cohen@currentlighting.com
+1 216 570 3873
Savant
Ben Sabol
ben.sabol@savant.com
+1 216-233-9062
