LEDs Business News: Digital Lumens, Acuity, Bytelight, Solais, Adura Technologies, Rubicon

Jan. 16, 2013
Digital Lumens receives $10 million in investments, ByteLight signs Solais Lighting as licensed lighting partner, SemiLEDs reports first quarter results, Acuity purchases Adura Technologies, and Rubicon closes a $25 million secured revolving credit facility.

Digital Lumens receives $10 million in investments

After a successful year that saw a 150% growth in its customer base, Digital Lumens has announced that it has closed a $10 million round of funding from existing investors, including Black Coral Capital, Flybridge Capital Partners, and Stata Ventures.

“We will use this latest investment to accelerate our expansion into new segments and international markets,” said Tom Pincince, President and CEO of Digital Lumens, “and to further develop our product and service offerings.”

ByteLight signs Solais Lighting as licensed lighting partner

ByteLight has signed a partnership agreement with Solais Lighting as its inaugural licensed lighting partner. This means Solais Lighting is now licensed to manufacture and sell ByteLight-enabled LED lamps.

ByteLight-enabled lamps from Solais Lighting serve as lights and positioning beacons by transmitting proprietary signals that can be picked up by camera-equipped mobile devices carried by customers, visitors, and workers within venues. When signals are detected, each mobile device can calculate its position without the need for an active network connection. This enables venue owners to deliver local content, interactive maps, and indoor navigation features to users based on their location inside the venue.

SemiLEDs reports first quarter results

SemiLEDs, a manufacturer of LED chips and components, has announced its financial results for the first quarter of fiscal year 2013. Revenue for the quarter was $6.2 million, an 8% decrease when compared to the $6.7 million of revenue in first quarter of fiscal 2012.

“As more of our customers have qualified our EV products, the demand of our LED chips and LED components has increased,” said Trung Doan, Chairman and CEO of SemiLEDs. “We are seeing pockets of demand while the overall LED market is still weak; we continue to manage cost, inventory and spending with a focus on profitable LED sectors to achieve our positive cash flow goal.”

Acuity acquires Adura Technologies

Acuity Brands has acquired the assets of Adura Technologies, a developer of wireless controls and energy management tools. Terms of the acquisition were not disclosed, and the acquisition is not expected to materially impact Acuity Brands’ fiscal 2013 consolidated financial performance.

Adura, which was founded in 2005, has developed radio frequency mesh networking technology that enables light fixtures to communicate in a wireless mesh network with sensors, switches, and management software. The technology is based off the ZigBee wireless standard.

“Adura’s simple to use wireless technology coupled with our broad luminaire portfolio, Sensor Switch® occupancy sensors and Lighting Control & Design™ (LC&D) system management software will allow for the creation of intelligent lighting systems that are simple to use while generating greater energy savings for our customers.,” said Vernon J. Nagel, chairman, president and chief executive officer of Acuity Brands.

Rubicon closes $25 million secured revolving credit facility

Rubicon Technology has closed a three year $25 million secured revolving credit facility with Silicon Valley Bank. Rubicon currently has no debt.

“This undrawn credit facility bolsters Rubicon’s strong liquidity position,” said William Weissman, chief financial officer of Rubicon Technology. “We believe it is prudent to establish this additional financial flexibility for the future.”