GE’s funding was part of the second round of the company’s ecoimagination Challenge, which recently awarded $63 million to ten start-up firms.
GE Energy Financial Services and The Bergquist Company joined existing investors Braemar Energy Ventures, CenterPoint Ventures, InterWest Partners and Rho Ventures to complete a $10 million investment round to fund Nuventix’s global expansion and technology advancements. The investment amount for each firm was not disclosed.
The license agreement between GE Lighting and Nuventix complements GE’s effort to develop longer-lasting LED products and systems. “Nuventix’s technology can improve the quality of LED lights by making them brighter, longer-lasting and potentially cheaper,” said Steve Briggs, VP of marketing and product management at GE Lighting.
Nuventix’s SynJet active cooling technology is not a standalone system, but can be incorporated with commercially-available light engines such as GE’s Infusion LED modules. In this way, the technology helps cool the electronics in a variety of spot, down, track and accent lighting fixtures.
From an investment standpoint, Ricardo Angel, senior vice president of venture capital at GE Energy Financial Services, said: “GE brings more than money to this investment, such as unparalleled expertise and market reach, to accelerate the adoption of next-generation lighting.”