Date Announced: 23 Mar 2010 BOULDER, Colo. -- TerraLUX is pleased to announce that it has closed a USD 5.6 million Series A venture capital financing. The round was led by Emerald Technology Ventures with participation from existing investor Access Venture Partners.TerraLUX is a leading provider of high brightness, energy efficient LED modules for use in the general illumination and portable device markets. Founded in 2003 by Dr. Tony Catalano, TerraLUX initially targeted the portable device market with considerable success and grew from that foundation into the general lighting market. In 2009, TerraLUX added Jim Miller, formerly VP Sales, Global Geographic Regions from one of the largest LED lighting companies in the world to their team as President & CEO.The new capital will be used to accelerate the company’s growth in all segments of the business with a particular development focus on the rapidly expanding commercial general illumination products and LED Modules.“This investment marks a significant growth milestone for TerraLUX and is a strong endorsement of the accumulated intellectual property, robust and diverse customer base and TerraLUX success in solid state lighting,” said Jim Miller, President and CEO of TerraLUX. “We are pleased to have partnered with Emerald given their understanding of the sector, strong track record, international network and philosophy of working together as a team to achieve great success. We are also pleased with the ongoing support of Access Venture Partners.”“TerraLUX has all the elements we look for in an excellent investment opportunity. It is a capital efficient business, has a superior product platform and demonstrated product performance. Alongside of an established and growing revenue base and a spectacular team capable of executing on high growth markets, TerraLUX uses the latest high-power LED components to produce exceptional products and distributes LED-based lighting solutions to a variety of markets,” said Whitney Rockley, Partner with Emerald Technology Ventures. “We are delighted to work alongside of Jim Miller, Tony Catalano and David Gold (Partner, Access Venture Partners) to grow TerraLUX into a world-class LED module company.” As part of this financing, Whitney Rockley has joined the TerraLUX Board of Directors.About TerraLUX Inc.TerraLUX Inc. is headquartered in Boulder, Colo., and invents, designs, patents, manufactures and distributes innovative high power LED OEM solutions for general lighting as well as industrial, commercial, medical and retail markets. TerraLUX also produces LED Embedded Light Modules to replace incandescent bulbs in commercial lighting as well as many popular flashlights and lighting tools. LED lighting is energy efficient and can provide significant relief from current energy consumption.About Emerald Technology VenturesEmerald Technology Ventures is a global leader in cleantech venture capital and operates from offices in Zurich, Switzerland, and Toronto, Canada. Founded in 2000, Emerald is a pioneer in this rapidly emerging sector and is focused on innovative technologies in energy, advanced materials and water. Since inception Emerald has managed three venture capital funds and two venture capital portfolio mandates totalling over EUR 300 million (USD 440 million). Emerald is currently investing out of its latest fund and is looking for energetic and passionate entrepreneurs with the vision to build world-class clean technology companies.About Access Venture PartnersAccess Venture Partners is a seed and early stage venture capital fund with offices in Denver and Austin. The fund invests in businesses in the Clean Technology, SaaS, SaaS Infrastructure, Data Integrity, and New Media sectors that have exceptional management teams with the passion to build world class organizations that can redefine markets – and maybe even change the world.
Contact
TerraLUX Inc. Erik Milz, 303-442-4960 Vice President of Sales & Marketing
E-mail:[email protected]
Web Site:www.terraluxcorp.com
