Date Announced: 07 Jun 2011 -- Incremental Series B Funding of $3.5 Million Allows Redwood to Extend Adoption of its Intelligent Lighting Control Technology in Key International MarketsFREMONT, CA –– Redwood Systems, a leader in networked LED lighting controls and building intelligence, today announced it has secured a $3.5 million investment from Mitsui & Co. Global Investment, Inc., a subsidiary of Mitsui & Co., Ltd. With 155 offices worldwide and extensive business units, investments and partnerships across global energy efficiency and green building channels, Mitsui joins Redwood as a strategic investor enabling access to new business opportunities across multiple geographic areas.“In a very short time, Redwood Systems has proven the need for intelligent lighting controls that not only promote energy efficiency, but also enable a range of building intelligence applications,” said Shin Kodera, Investment Partner, Mitsui Global Investment. “This investment is a testament to the impact we believe Redwood’s technology will have on the global business landscape, as businesses seek ways to reduce energy use and monitor and improve their workplace.”With the industry’s only LED lighting control and building intelligence platform, Redwood takes a systems-based approach that results in the most energy efficient lighting solutions on the market. Redwood’s innovative solutions have achieved rapid adoption across office buildings and data centers of leading companies such as SAP, Volkswagen, and Johnson Controls. With the funding, Mitsui Global Investment joins Battery Ventures, U.S. Venture Partners and Index Ventures as investors in Redwood Systems.“Mitsui’s heritage and experience investing in renewables, smart grid and commercial energy efficiency projects will help us pursue a host of new opportunities around the globe,” said Dave Leonard, CEO and co-founder of Redwood Systems. “We will tap Mitsui’s reach and knowledge of global markets to accelerate our growth and extend the customer traction worldwide.”Mitsui & Co., Ltd.’s investment portfolio includes cleantech and energy companies, as well as major Asia-based intelligent building companies such as Beijing Tellhow Intelligent Technology Ltd. and CNA Group Ltd. In addition, Mitsui is developing a joint venture with ARUP, a global engineering and design firm, through which they will develop low-carbon projects worldwide.About Redwood SystemsRedwood Systems provides the industry’s only LED lighting control and building intelligence platform proven to deliver both ongoing energy savings and workspace productivity enhancements. Using patent-pending networking technology, Redwood has developed a unique and cost effective way to power and control lights using high density sensors with a flexible, scalable, open platform. With a growing roster of market- leading customers and partners, Redwood is building a reputation for customer success.
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Drew Smith Blanc & Otus Public Relations 415.856.5127
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Web Site:www.redwoodsystems.com
