The two companies will collaborate on R&D and other projects supporting the continuous improvement and advancement of LED technologies suitable for consumer, architectural, commercial, institutional and general illumination applications.
The agreement is intended to accelerate each company’s commercialization of LED luminaires, which will "reinforce both companies’ commitment to innovation that enhances the value proposition of solid-state lighting."
“Partnering with Renaissance Lighting gives Acuity Brands Lighting the ability to continue to build our rapidly-growing LED portfolio and develop innovative new products through the use of advanced, patented technology,” said Vernon Nagel, chairman, president and CEO of Acuity Brands, the parent company of ABL.
“Renaissance Lighting’s intellectual property estate, experienced management team, and multi-disciplinary approach will further enrich ABL’s depth of technical expertise in product design and development for the growing LED market.”
“As one of the largest and most-respected lighting companies in the world, Acuity Brands Lighting has the resources to help us accelerate the delivery to market of breakthrough LED technology," said Renaissance Lighting CEO Barry Weinbaum.
"ABL’s collaboration with Renaissance Lighting validates our technological viability in both the lighting industry and our global marketplace. It also serves as a key endorsement of our intellectual property prowess, diversity and breadth, while solidifying the inevitability of solid-state technology’s impact on the future of lighting. We are proud to be aligned with such a respected industry leader.”