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Lighting Technology Company and Leading Fixture Company Discussing Synergies Between Technology and Products
Jul 31, 2008 10:33:00 AM
SAVANNAH, GA -- (MARKET WIRE) -- 07/31/08 -- PureSpectrum, Inc. (PINKSHEETS: PSPM) has signed a letter of intent with W.A.C. Lighting stating that the two companies will continue discussions toward developing a licensing arrangement that would integrate PureSpectrum's ballast technology into existing and possibly new product lines from W.A.C. Lighting.
"We have a tremendous opportunity to work with an established and respected company which shares our corporate values," said PureSpectrum president and CEO Lee Vanatta. "W.A.C. Lighting has propelled itself to the upper echelon of the lighting industry through a commitment to innovation and a culture of excellence. After our initial discussions, there was a clear business interest for both companies and we agreed to work together during the next month to clearly define the scope of a potential licensing agreement.
"We believe our technology would provide a competitive advantage in the marketplace, and we are extremely pleased to be able to continue discussions with a company that has a proud history of achievement within the lighting industry," Vanatta concluded.
PureSpectrum owns multiple patents and patents pending for innovative electronic ballast technology for fluorescent lighting. During the past few months, the company's technology has been tested by several leading lighting manufacturers, and feedback gained through those interactions allowed PureSpectrum's advance technology team to refine its circuitry for optimum performance in preparation for licensing the technology and integrating it into the manufacturing process.