Lumenpulse Inc., a manufacturer of architectural LED-based lighting products, has completed a $16 million Series A equity and debt round. The funding will be used to support the company’s growth and to extend its market and product development.
The investment came from a select group of private investors and includes participation from the company’s management and board of directors. In addition, the financing includes a new term loan and working capital line of credit from Silicon Valley Bank (SVB).
“This financing allows us to invest in international market expansion ahead of plan, to further enhance our product development capabilities and to ensure our manufacturing strategies and capacity are solidly in place to meet the accelerating demand for our products," said François-Xavier Souvay, the company’s president and CEO.
Labsphere collaborates with Chinese test center
Test and measurement specialist Labsphere, Inc. has signed a cooperation agreement with National Lighting Test Centre in Shanghai, China. The organization’s National Luminaries Quality Supervision Testing Centre is the first professional international laboratory for lighting equipment in China.
Labsphere has supplied the center with its Thermal/Optical/Electrical LED Measurement Systems (TOCS), to which the center will apply its patented technology to correlate voltage drop with junction temperature. Additionally, the companies have agreed to actively share information pertaining to developing lighting trends and to cooperate in the launch of academic communications and activities.
Stellarnet celebrates, adds distributor
Tampa, FL-based StellarNet, Inc. has celebrated a milestone of 20 years in the spectroscopy industry, and has also added Titan Electro-Optics as its distributor in China, with offices in Beijing, Shenzhen, and Shanghai.
“Over the past two decades StellarNet has strived to provide low-cost, yet research grade instrumentation,” says company President and Chief Scientist Will Pierce. “We look forward to the future with more exciting products being developed to meet the demands of today’s applications, and securing additional distribution.”
Illumitex cuts deal with GLG
Austin, Texas-based LED developer Illumitex, Inc. has signed a strategic alliance agreement with Gerard Lighting Group Limited (ASX:GLG), the largest lighting manufacturer and distributor in Australia and New Zealand.
In addition, GLG has invested $3 million in Illumitex for a small minority interest as part of the LED company’s latest round of private equity financing.
Under the strategic agreement, effective immediately, GLG will become the exclusive general lighting integrator and distributor of Illumitex’s LED products in Australia, New Zealand and the Pacific Islands.
South Korea was no.2 LED producer in 2010
South Korea was the second-largest producer of LEDs last year, according to an article in the China Post.
A statement by Korea’s Ministry of Knowledge Economy said that combined worldwide sales by Korean LED manufacturers more than doubled to 6.9 trillion won (US$6.35 billion) last year, compared with 3.1 trillion won (US$2.9 billion) in 2009, and more than tripled from 2.2 trillion won (US$2.05 billion) in 2007.
The government has supported the growth of LED lighting and is encouraging the replacement of incandescent lamps with LED lamps in the private sector by providing tax benefits. The ministry said that LED technology accounts for 14 percent of total lighting systems in municipalities and state-run corporations nationwide, and 8 percent at public institutions.
Electronic components distributor Digi-Key Corporation has signed a global distribution agreement with Taiwan-based Everlight Electronics Co. Ltd. Everlight manufactures through-hole and surface-mounted LEDs, optical sensors and infrared components, and state-of-the-art lighting fixtures and digital LED displays.
In related news, Mouser Electronics has signed a global distribution agreement with Cree, and will supply the company’s lines of lighting-class XLamp LEDs, high-brightness LEDs, LED modules, and power products.