announces the signing of agreements with two of the pool and spa industry's top companies: Balboa Instruments and Hayward Pool Products. Through these agreements, both companies will incorporate Color Kinetics' patented Chromacore® intelligent LED illumination technology within their products, offering customers the ability to create color-changing effects in their pools and spas. These agreements also signal the successful progression of Color Kinetics' strategy to introduce its digital lighting technology to this industry by moving its existing pool and spa business to the company's growing OEM and Licensing division.
With these agreements, Color Kinetics ensures its cutting-edge LED lighting technology will be married to the highest-quality pool and spa products. Balboa, the leading manufacturer of electronic control systems for the portable spa and hot tub industry, will initially offer Color Kinetics' existing line of ColorScape® LED lighting products for spas and hot tubs and will integrate Chromacore control systems into its existing line of controllers. The company will then focus on developing various new lighting products incorporating Chromacore technology. Hayward Pool Products will offer a unique LED-based pool light, called ColorLogic™, combining Chromacore technology with the brightest and most advanced LEDs, resulting in a pool light that is dramatically brighter. Hayward expects to begin shipments in January 2003 for its 120V version and March 2003 for a 12V version.
"We're very pleased to offer our technology to pool and spa owners through these partnerships with industry leaders Balboa and Hayward. The collective expertise of both these companies will be integral in ensuring Color Kinetics' technology is further embraced by the industry, advancing our company's mission to create a more colorful world through light," says Bill Sims, president and COO of Color Kinetics. "These agreements also fall under a larger strategic OEM and licensing mission of the company, in which partnering with industry leaders to expand market bases and enable exciting and innovative applications for Chromacore is a key objective," he adds.