Philips Lumileds CTO Wins Prestigious Economist Innovation Award for Energy and the Environment

Philips Lumileds CTO Wins Prestigious Economist Innovation Award for Energy and the Environment

The Economist Honors Pioneering Work in Development of Bright, Energy-Efficient Light-Emitting Silicon Chips

Philips Lumileds, the leading manufacturer of high-power LEDs, is pleased to announce that George Craford, its Chief Technology Officer, was honored last night with the Innovation Prize in Energy and the Environment at the 2007 Economist Innovation awards, held at The Science Museum, London.

Dr Craford’s research work at Philips Lumileds and previously at Monsanto and Hewlett-Packard has enabled the product innovations that have seen the LED transformed into a viable, energy efficient replacement for traditional incandescent and fluorescent light sources. Philips Lumileds LUXEON LEDs are now used in applications from architectural and entertainment lighting to retail and office luminaires and even vehicle headlights.

Tom Standage, Business Editor at The Economist, said, “George Craford and Roland Haitz’s pioneering work on the development and commercialization of LEDs means that the proportion of human energy consumption attributable to lighting will finally go down.”

Dr Craford said: “I am honored to be receiving this award and to be recognized for making a difference in my field of research. It is wonderful to think that my work and that of my colleagues has helped to create a practical replacement to conventional lighting, that is both energy-efficient, and that can significantly reduce the impact of lighting on the environment by using less toxic materials and reducing CO2 emissions.”

His recognition by the Economist’s 25-strong judging panel acknowledges his status in the LED market, his leadership of the development of LED technology, and his contribution to the commercial success of Philips Lumileds.

Held annually, the awards recognize the individuals who have made significant contributions to the development of new products, processes and markets in seven areas: bioscience; computing and telecommunications; social and economic innovation; ‘no boundaries’ business process; consumer products; and energy and the environment.

Previous winners of the Economist Innovation award for Energy and the Environment include:
2006 – Johannes Poulsen, for the commercialization of wind energy
2005 – Stanford Ovshinsky, President and Chief Scientist and Technologist, Energy Conversion Devices, for his work developing High-powered NiMH Batteries
2004 – Takeshi Uchiyamada, Director, Toyota Motor Corporation, for leading the team that developed the hybrid gasoline-electric consumer automobile.

About Philips Lumileds

Philips Lumileds Lighting Company pioneered power LED technology and is the world’s leading provider of power LEDs for everyday lighting applications. The company’s recent records for light output, efficacy and thermal management are direct results of the ongoing commitment to advancing solid-state lighting technology and enabling lighting solutions that are more environmentally friendly, help reduce CO2 emissions and reduce the need for power plant expansion. Philips Lumileds’ LUXEON LEDs are enabling never before possible applications in the general lighting, automotive, digital imaging, display, and signage markets. More information about the company’s LUXEON® LED products and solid-state lighting technologies can be found at www.philipslumileds.com.

About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE:PHG)(AEX:PHI) is a global leader in healthcare, lighting and consumer lifestyle, delivering products, services and solutions through the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 128,000 employees in more than 60 countries worldwide. With sales of USD 34 billion (EUR 27 billion) in 2006, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. News from Philips is located at www.philips.com/newscenter.

Contacts

Philips Lumileds Lighting Company
Steve Landau, 408-964-2695
Director of Marketing Communications
steve.landau {at} philips(.)com