NEWS

WIRES

OTHER

Luminus Devices Receives $38 Million Investment

New Funding Supports Accelerated Manufacturing and Marketing of PhlatLight(TM) Technology

Luminus Devices, Inc. today announced that it has closed approximately $38 million in new venture financing. Participants in the round include Luminus' current investors Battery Venture Partners, Argonaut Private Equity, Stata Venture Partners, Draper Fisher Jurvetson, DFJ-New England and Eastward Capital, plus several new investors. Luminus will use the investment to expand capacity and its PhlatLight(TM) product line.

"With this investment, our team of investors has continued to demonstrate their confidence in the direction Luminus is headed," said Udi Meirav, CEO of Luminus Devices, Inc. "We are tremendously encouraged by the level of interest in our PhlatLight technology and the opportunity this investment has afforded us to meet our customers' demand. This puts Luminus in a superb position to begin capturing the value we have been working to create since our inception."

PhlatLight technology is a new type of solid state light source based on patented photonic lattice structures. With PhlatLight chipsets currently in production, Luminus is leading the industry in developing cost-effective, solid state light sources with extremely high power and brightness to illuminate state-of-the-art, high-definition televisions and displays. Several notable consumer electronics brands, including Samsung Electronics, have incorporated PhlatLight technology into their products and many others are designing new products based on Luminus' PhlatLight chipsets.

"Luminus' determination and unparalleled focus on high definition display applications remains a key to its success," said Morgan Jones, general partner at Battery Ventures. "We are excited about the momentum building around PhlatLight technology and are confident that Luminus has the leadership and manufacturing capabilities to lead the way in designing and producing new and powerful solid state light sources."

"What we recognized early on as being truly unique about Luminus and as having the most potential was not just the technology itself, but also their ability to commercialize their technology," said Jason Martin, managing director of Argonaut Private Equity. "We have watched Luminus perfect its technology, establish a high-volume manufacturing process and line up an impressive list of customers. It is their continued growth, focus, ability to execute and win customers that has affirmed our desire to support them as they expand into new applications."

Luminus' PhlatLight technology has been acknowledged with several awards since its launch in January 2006, including being recognized as the light source behind Samsung's HL-S5679W 56-inch rear projection television that won the CNET Best of 2006 Award in the TV category at the 2006 International Consumer Electronics Show (CES). Luminus' also won Insight Media's CES 2006 Best Buzz Award in the category of "Best New Enabling Technology," and LED-based, microdisplay rear-projection TVs featuring the PhlatLight light source also received the Best Buzz award as "Best New Display Category."

About Luminus Devices

Luminus Devices, Inc., headquartered in Woburn, Massachusetts, develops and manufactures high performance solid state light emitting devices. Its PhlatLight (Photonic Lattice) technology, developed by Luminus Devices based on research done at MIT, is the only solid state light source that provides enough brightness to illuminate large screen projection televisions. With PhlatLight chipsets in commercial production, Luminus is leading the industry in designing and manufacturing this new, powerful light source for a variety of applications, including projection TVs and other advanced, high-definition displays. Several leading television and consumer electronics vendors are currently including PhlatLight technology in their products. For more information, visit www.luminus.com.

Distributed by Market Wire