News in brief: Cree, Lamina and TIR Systems
Cree has opened its new Hong Kong subsidiary, Lamina is sponsoring the LRC's LED Lighting Institute and TIR has received additional financing.
Cree Asia-Pacific Limited opened its new headquarters at the Hong Kong Science Technology Park on September 12, 2005. The company will host a dedication ceremony to introduce its Asian customers and prospective customers to the new staff and facility.
Cree Asia-Pacific Limited is a wholly owned subsidiary of Cree that was formed to provide greater customer and technical support, and serve as Cree's center of product innovation in Asia.
"Cree has focused significant sales efforts during the past several years toward the large and dramatically growing LED community in Asia," says Mike Dunn, managing director of Cree Asia-Pacific. Among Cree's chip customers in Hong Kong is Cotco, which has licensed Cree's white LED technology.
"The decision to locate the Cree Asia-Pacific headquarters in Hong Kong Science and Technology Park shows both the importance of having regional support for technical products, in this case packaged LED lighting components, and the importance of convenient, attractive facilities," noted C.D. Tam, Hong Kong Science and Technology Parks Corporation CEO.
Lamina sponsors LED Lighting Institute
Lamina Ceramics is to be a sponsor of the LED Lighting Institute, a training course organized by Rensselaer Polytechnic Institute's (RPI) Lighting Research Center (LRC). The next LED Lighting Institute is planned for September 21-23, 2005, at RPI.
In addition to sponsoring the LED Lighting Institute, Lamina will also donate its super-bright LED light sources for use in the design of architectural lighting fixtures.
The LRC's LED Lighting Institute provides hands-on training about this quickly evolving lighting technology in a small-class setting. Participants will learn about the latest advances in LED research, testing and technology, as well as various strengths and weaknesses of LED products, how to design lighting installations using LEDs, and how to select and specify LED lighting system components.
TIR receives C$7 million financing commitment
TIR Systems Ltd has received financing commitments of CAN $7 million as part of its previously announced convertible debenture release.
The company is increasing the size of the financing to include the participation of existing shareholders and institutional investors.
TIR says that new arrangements are "in response to institutional investor interest supporting a more aggressive and accelerated business plan directed toward attempting to ensure faster market adoption of TIR's Solid State Lighting Lexel technology as the new standard for general lighting."
The financing will be up to a maximum of CAN $25 million, with an allowance for over-subscription. To date, firm commitments of approximately CAN $7 million have been accepted by the company, subject only to the completion of closing documentation, plus regulatory and shareholder approvals as required.