SALEM, NH-ProPhotonix Ltd., formerly StockerYale Inc., a designer and manufacturer of light-emitting-diodes (LEDs) arrays and light engines, produces laser modules and distributes laser diodes for industrial OEMs, medical and defense markets, announces that its two subsidiaries, StockerYale and Photonic Products, will now trade under the ProPhotonix Ltd. name and the relaunch of its new corporate Web site, www.prophotonix.com
The newly-adopted name and united Web site reflects the Company's focus on optics technology for LED and saser systems, linescan Illumination and laser diodes and unites the strengths and expertise of the two subsidiaries.
ProPhotonix' forward looking strategy is to capitalize on its reputation, knowledge and proprietary technology in the LED light engine and diode-based laser space. LED technology, based on high levels of energy efficiency when compared to alternative lighting sources, such as incandescent, fluorescent and high pressure sodium, represents a large market opportunity for our LED technology over the next five years.
According to Strategies Unlimited, LED lighting represents less than 3% of the approximate $100 billion global lighting fixture market and is expected to increase significantly due to new government regulatory policies, improved energy efficiency and businesses' desire to enhance their "green" credentials. Leveraging its core technology and know-how the Company intends to penetrate this market by providing LED components into the architectural, commercial and industrial light fixture industry, which is currently estimated to be worth approximately $1.5 billion and forecasted to double by 2012.
ProPhotonix' Web site reflects the new brand and business strategy. In addition, the Company will be publicizing the new name and promoting its next generation of machine vision products at the Stuttgart Vision show on the 9-11 November 2010: http://cms.messe-stuttgart.de/cms/index.php?id=80339&L=1
Mark W. Blodgett, chairman and CEO of ProPhotonix, commented: "Following the renaming of StockerYale Inc. to ProPhotonix Ltd. earlier this year, the next logical step was for the StockerYale and Photonic Products subsidiaries to adopt the new brand which now represents the Group's full range of expertise and world leading products under one international brand name."