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TIR Systems Demonstrates Breakthrough Technology for US$78B Illumination Market
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Company News Releases
April 12, 2005... New York, New York USA-- TIR's universal general lighting platform will deliver energy efficient, perfectly controllable light, in a cost effective way
TIR Systems Ltd., a world leader in light enabling technology, has today unveiled its universal platform for solid state lighting (SSL) at Lightfair International, the lighting industry's largest annual tradeshow. Called Lexel, it not only provides perfectly controllable and high quality illumination, but also will enable the most energy efficient general lighting on the planet.
The Lexel is a new light source utilizing Light Emitting Diodes (LEDs), a semiconductor component that government and industry have identified as having the potential to reduce the world's overall consumption of electricity by 10% while delivering superior performance and useful life in excess of 50,000 hours - over 20 years for many applications. Until now, this potential has gone untapped for illumination because LEDs were an incomplete lighting system on their own and the industry has been struggling with several technology barriers that prevented them from being utilized for general lighting purposes. With Lexel, TIR has overcome these technology hurdles and, as a result, now has the first and only fully integrated, seamless SSL source that can be used cost effectively for general lighting purposes.
"In addition to introducing award-winning SSL products into the early adopter markets, TIR has quietly spent the last two years researching and developing a universal general lighting platform that will deliver the phenomenal energy savings and operational benefits that have been promised by LEDs for several years," states Leonard Hordyk, President & CEO for TIR. Hordyk adds, "For the first time ever, the world is now able to take advantage of a perfectly controllable light source that uses up to 80% less energy to produce the same amount of light as a conventional source and at the same time, does not degrade its output or color over its life."
TIR unveiled the Lexel for key industry partners and demonstrated several light fixtures that provide 1000 lumens of light - approximately equivalent to a 75W incandescent lamp - a quantity of light that addresses more than 60% of the market currently served by conventional sources. In addition to meeting the market requirements for light output, Lexel provides precise color temperature control and dimming using a closed-circuit feedback system, resulting in a truly intelligent light source for illumination.
Brent York, TIR's Chief Technology Officer (CTO) says, "Lexel addresses all of the major obstacles that have prevented LED-based light sources from entering the mainstream illumination markets and does so in a simple and cost effective way." In describing the fact that Lexel actually incorporates several breakthrough technologies, York notes that, "by combining a leapfrog improvement in thermal management with more than 95% drive efficiency, an inexpensive but extremely accurate feedback system, and the most advanced optical system for SSL to date, Lexel will finally deliver the light output, color temperature control, extremely long life, and energy efficiency that the lighting industry has been promised."
Building on its recently announced patent for using SSL in grid ceilings found in general illumination applications, TIR is rapidly expanding its portfolio of intellectual property which currently includes 44 patent applications in the field of SSL. The majority of these current patent applications along with those that will result from continued research will allow TIR to further develop and protect the Lexel. TIR is meeting with industry partners to determine how best to commercialize the Lexel technology by 2006.
About TIR Systems Ltd.
TIR Systems Ltd., a world leader in delivering specialty lighting systems, is building the foundations for tomorrow's lighting. Through sound innovation and proven technical capability, TIR is developing, designing and marketing the core technologies that will allow Solid State Lighting (SSL) to move to the forefront of mainstream lighting.
This News Release contains forward-looking statements concerning the development, design and marketing of SSL technology and its expected impact on the Company's business. Forward-looking statements are statements about the future and include, but are not limited to, our success developing, designing and marketing the sales of our products or technologies in response to the continuing change in technology, evolving industry standards and changing customer preferences and requirements. Such statements are inherently uncertain, and the actual events or results could be materially different than those anticipated in those forward-looking statements as a result of numerous factors, including without limitation, our ability to successfully address these developments on a timely basis or at all; as well the other risks and uncertainties affecting the Company and its business, as contained in the Company's most recent Annual Information Form and other subsequent news releases and filings with the Canadian Securities Regulatory Authorities, any of which could cause actual events or results to vary materially from the Company's expectations. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
TIR Systems Ltd.
Contacts
TIR Systems Ltd.
Issa Nakhleh
Chief Financial Officer
(604) 473-2302
issa.nakhleh@tirsys.com
OR
TIR Systems Ltd.
J. Caren Holtby
Investor Relations Manager
(604) 473-2318
caren.holtby@tirsys.com
www.tirsys.com
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