Citizen Electronics and Once Innovations Sign License Agreement

"This agreement clearly demonstrates that both companies are dedicated to developing and bringing new LED lighting technologies to consumers and commercial markets," said Mr. Yoshihiro, President of Citizen Electronics. "We aim to expand our LED business in this rapidly developing market by seeking out the best technologies available in the market and combining them with our precision manufacturing cultivated through our watch business. By doing so, we will continuously deliver pioneering and affordable LED solutions to our customers."

Mr. Zdenko Grajcar, Once Innovations CEO added, "Our team developed a series of pioneering technologies, redefining AC LEDs as we know them today. We effectively demonstrated that AC LED technology can have commercial power quality with a Power Factor (PF) over 0.98, Total Harmonic Distortion (THD) under 20%, and luminous efficacies challenging those of DC driven LEDs. Even so, the best technology is only as good as the company that brings it to the market. Throughout the years, Citizen has continuously proven their leadership in the industry by being at the forefront of innovation instead of simply following the crowd."

About Once Innovations:
Once Innovations (ONCE) is a privately held corporation with a strong focus on the development of forward-thinking LED technologies. ONCE manufactures highly differentiated LED lighting using a visionary approach to research and product development - from unique designs with proprietary technologies through final production and distribution. ONCE was founded in 2008 by current CTO, Zdenko Grajcar, who is considered a rebel in LED technology for his remarkably unconventional thinking and relentless challenge to the industry status quo. The ONCE technology research, marketing, and product development campus is located in Plymouth, MN United States of America.