LIVERMORE, CA -- (Marketwire) -- 11/15/12 -- Bridgelux Inc., bringing innovation to light by providing high power, energy efficient and cost effective LED solutions, today announced it ranked 128 on Deloitte's Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Bridgelux grew 876 percent during this period, from 2007 to 2011. Last year, Bridgelux ranked 135 as a Technology Fast 500 award winner.
Bridgelux's chief executive officer, Bill Watkins, credits understanding the market, investment in technology and product innovation with the company's 876 percent revenue growth. He said, 'We are honored to be ranked among the fastest growing technology companies in North America. Bridgelux has focused on developing light source technologies that simultaneously increase design flexibility for our customers and drive down the cost of light to enable rapid market adoption. In addition, we have established strong strategic relationships both in manufacturing and technology development, leveraging our core competencies to drive rapid revenue growth and new market penetration. I appreciate the tremendous support of our strategic partners, as well as the dedication of our employees, which has been truly instrumental in Bridgelux's success.'
Overall, 2012 Technology Fast 500 companies achieved revenue growth ranging from 128 percent to 279,684 percent from 2007 to 2011, with an average growth of 2,774 percent.
About Deloitte's 2012 Technology Fast 500
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies -- both public and private -- in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
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. 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.
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