LED Business Roundup: Redwood, Lumileds, Future, GT Solar
Redwood Systems has received a $3.5-million investment from Mitsui, Lumileds and Future have extended their worldwide distribution agreement, and GT Solar has received another huge order for sapphire growth systems.
Redwood Systems, the Fremont, CA-based supplier of networked LED lighting controls and building intelligence, has secured a $3.5-million investment from Mitsui & Co. Global Investment, Inc., a subsidiary of Mitsui & Co., Ltd.
Shin Kodera, Investment Partner with Mitsui Global Investment, said that 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.”
Dave Leonard, CEO and co-founder of Redwood Systems, said that “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.”
Lumileds and Future extend worldwide distribution agreement
Philips Lumileds and Future Electronics have extended their exclusive worldwide distribution relationship. The new five-year agreement builds on the decade-long relationship that has enabled the development of solid-state lighting solutions worldwide.
“Our investment in resources, training, design tools, and best-in-class supply chain capabilities has enabled us to become the service leader in the solid-state lighting industry,” said Jamie Singerman, Corporate VP, Future Lighting Solutions.
“Future Lighting Solutions has proven over the last decade that with LUXEON LEDs, highly trained LED solution engineers, and the core services of a global solutions provider, they are well positioned to support and enable the growing number of companies that want to enter the solid-state lighting industry,” said Steve Barlow, Sr. VP of Sales and Marketing at Philips Lumileds.
GT Solar receives $460.4 million order
GT Solar International, Inc. (NASDAQ:SOLR), a supplier of sapphire crystal-growth systems, has received an order for its growth furnaces totaling $460.4 million from a new market entrant. The order is GT’s largest single order to date, and will be included in GT’s backlog for its current Q1 FY12, which ends on July 2, 2011.
“Our customer is a well established, diversified manufacturing company located in China who is new to the LED industry,” said Tom Gutierrez, GT Solar’s president and CEO. “The market acceptance of our sapphire growth technology has been remarkable and it speaks to the confidence our customers have shown in our ability to help them build successful businesses that leverage our crystalline growth expertise and our global equipment installation and support resources.”