Hybrid Lighting Technologies was previously a wholly owned subsidiary of UTEK Corporation, and the deal was a restricted stock transaction.
The technology acquired by Cyberlux enables the creation of a white or multi-colored lighting source by combining the emission from an LED chip with the photoluminescence from polymer and/or organic films.
"We are enthusiastic about the potential for this technology to improve the efficiency and appearance of LED products," said Alan Heeger, professor at the UCSB.
"We believe this technology may provide a competitive advantage for us in our target markets," said Mark Schmidt, president and COO of Cyberlux Corporation. "We are particularly excited to be working with Alan Heeger, a Nobel Laureate in Chemistry, and inventor of the technology."
In November 2006, Cyberlux acquired the rights to remote phosphor technology developed at Rensselaer Polytechnic Institute by acquiring another UTEK subsidiary (see Cyberlux acquires rights to remote phosphor technology).