TerraLUX and Pacific Light Technologies secure funding
Solid-state lighting company TerraLUX has closed a series B venture-capital funding round worth USD18.3 million, while quantum-dot developer Pacific Light Technologies has raised USD3.0 million in a series A round.
TerraLUX, Inc., a Longmont, Colorado-based solid-state lighting (SSL) company specializing in integrated LED solutions for OEM and retrofit applications, has closed a series B venture-capital financing round of USD18.3 million.
The new capital will be used to accelerate the company's growth in all segments of the business with a particular development focus on LED engines and technologies for both OEM and retrofit applications in general illumination.
The round was led by new investment partner Generation Investment Management based in London, with participation from existing investors Emerald Technology Ventures and Access Venture Partners. Also participating were undisclosed private investors as well as company founder Anthony Catalano and members of the TerraLUX executive management team.
Generation partner Colin le Duc said: "With advanced technology such as LEDSense(R) Thermal Management and Dynamic Transformer Recognition, TerraLUX is poised to accelerate the adoption of energy-efficient solid state lighting by reducing barriers of entry and backing up the promise of extended lifetime and durability." Le Duc has assumed a new position on the TerraLUX board of directors.
Pacific Light Technologies announces series A funding
Pacific Light Technologies (PLT), a Portland, OR-based developer of quantum dot down-converter products for high-efficiency LED lighting, has received nearly $2 million in equity funding with additional commitments to bring its Series A funding to over $3 million. Participants in the funding include Pivotal Investments, the Oregon Angel Fund, and individual investors.
Quantum dots will enable lower-priced and more-pleasing LED lighting for home and office, according to PLT, as well as reducing industry dependence upon rare-earth materials and electricity use worldwide.
“PLT’s unique quantum-dot products have been sampled to leading LED lighting companies who have verified the unique performance advantages of our technology, including moisture and humidity resistance, dramatically reduced self-absorption losses, and ability to withstand high optical intensity,” said Ron Nelson, CEO of PLT.
PLT was founded in early 2011 by a strong team of quantum dot specialists formerly with SpectraWatt, an Intel spinoff which attempted to develop quantum-dot-enhanced solar cells prior to closing in 2011. In late 2011 PLT acquired the intellectual property of SpectraWatt.