WASHINGTON, June 2 /PRNewswire-USNewswire/ -- Intellectual Property Owners Education Foundation will present the 35th Annual National Inventor of the Year Award to Dr. Ihor Lys of Color Kinetics (now Philips Solid-State Lighting Solutions) on June 10, 2008. The Award will be presented in a ceremony at the Old Patent Office, now the Smithsonian American Art Museum and National Portrait Gallery. Dr. Lys will be recognized for his development of Powercore(R), a breakthrough in digital power processing technology designed to increase efficiency, lower the overall cost, and simplify installation of LED (light emitting diode) lighting systems. LED sources are highly efficient, long-lasting, easily controllable, and environmentally friendly, enabling new uses of light while minimizing energy consumption. LEDs are up to four times more efficient than incandescent and halogen sources and are rapidly gaining ground on fluorescent sources. An incandescent bulb burns for 1,000 hours before the filament flakes out, while LEDs can last 50,000 hours and longer depending on the system. They are expected to supplant conventional light sources for illuminating homes and workspaces in the future. The LED market is projected to reach $30 billion by 2025. The U.S. Department of Energy has estimated cumulative savings of $98 billion by 2020 once LED lighting reaches the performance crossover with conventional light sources. However, to be useful for illumination, LED sources must be integrated into systems that account for optics, high-efficiency LED drivers, advanced power components, and thermal management. Historically, LED lights required an external power supply and special cabling to convert line voltage into low voltage. Similar to a laptop's power supply, these were in the form of a "brick" in the power cord. This configuration, a power source outside the light fixture itself, was inefficient because power was lost in the conversion. Powercore(R) technology integrates power, data management and voltage conversion into the light fixture, eliminating the need for a separate power supply. A number of high-profile landmarks are illuminated by Powercore-based solid-state lighting systems, including the Hollywood Bowl and CN Tower in Toronto. The technology has been incorporated into 13 commercialized products to date and will be incorporated into a majority of Philips' future solid-state lighting products, including many already in development. Dr. Lys co-founded Color Kinetics in 1997, where he developed Powercore(R) and a number of other LED illumination technologies. Color Kinetics was acquired by Philips Electronics North America in August 2007, and now Dr. Lys serves as Chief Scientist of the new Philips Solid-State Lighting Solutions. He is responsible for the company's strategic technology advancement and implementation, including applied research and advanced engineering in the development of new lighting, power and control products. Throughout his career, Dr. Lys has contributed to more than 50 issued patents and numerous patent filings. He has been named to several prestigious industry lists, including the Technology Review TR100, Mass High Tech All-Stars, and Entertainment Design magazine's 50 Most Powerful People in Entertainment Technology. The National Inventor of the Year Award fosters the spirit of American innovation and highlights the protection offered to inventors by the patent system. The Award is the best known honor for recent American inventors, having gone previously to those responsible for the development of the Jarvik Seven Artificial Heart, Bose speaker technology and other patented breakthrough inventions. The award will be presented by Dean Kamen of DEKA Research & Development Corporation, a noted inventor, entrepreneur, and National Medal of Technology recipient. Members of the media can arrange to attend the June 10 ceremony by contacting Clara Stanfield at 202-521-6738. About IPO Education Foundation Intellectual Property Owners Education Foundation, a non-profit subsidiary of Intellectual Property Owners Association (IPO), was established in 2005 to educate the public on the importance of intellectual property rights to the national and global economies. Donations to the foundation by individuals are tax deductible to the extent allowed by law. To find out more about IPO Education Foundation programs or how to make a donation, visit www.ipoef.org or call 202/466-2396.
SOURCE Intellectual Property Owners Education Foundation