Volvo investing in Illuminate Labs

Volvo Technology Transfer has substantially increased its ownership position in Illuminate Labs.

Gothenburg, 28 November 2006 – Illuminate Labs AB today announced that Volvo Technology Transfer has substantially increased its ownership position in Illuminate Labs. The increase in ownership was achieved through a recent new emission of shares to the majority owners of Illuminate Labs. Volvo Technology Transfer AB develops and supports new businesses that have relevance for the Volvo Group and its businesses.

“Illuminate Labs leads the market in the production of photorealistic images based on computerized design models. Effective use of this technology significantly reduces the cost of producing marketing material and speeds up design processes”, says Johan Carlsson, Investment Director, Volvo Technology Transfer.

“We are very pleased to have the continued support of Volvo Technology Transfer”, says Magnus Wennerholm, CEO, Illuminate Labs. “With Turtle™ we have developed a very interesting and useful technology with which to meet the specific requirements inherent in interactive product visualization.”

About Illuminate Labs:
Illuminate Labs develops and markets rendering and baking technology. Turtle™ is Illuminate Lab’s product for Maya® by Autodesk. Turtle is based on the proprietary LiquidLight® technology, which is also available for licensing to third party platforms.
Turtle has been used in production since 2003. Reference clients include Sony, Weta, Nintendo, Electronic Arts, Lockheed Martin, and Valve Software. The Company’s headquarters are in Gothenburg, Sweden.
Press Contact: sales@illuminatelabs.com

Turtle and LiquidLight are trademarks of Illuminate Labs. Maya is a registered trademark of Autodesk Inc. All other products or companies mentioned are trademarks or service marks of their respective owners. All rights reserved.
© Copyright 2006 Illuminate Labs. All rights reserved

About Volvo Technology Transfer:
Volvo Technology Transfer (VTT) www.volvo.com/venturetech is AB Volvo's corporate venture capital company. VTT creates value for Volvo shareholders and the organization by investing in emerging technologies and business opportunities with relevance to Volvo.