Investors Grant LatticePower $80M for LED Production
HONG KONG, July 11, 2014 — LED developer LatticePower Corp. recently received an $80 million cash infusion from investment groups.
The company said the funding will be used to expand its R&D and manufacturing capabilities and scout locations for facilities in the U.S.
The investors are led by Asia Pacific Resources Development Investment LLC and GSR Ventures, and include the Mayfield Fund and Crescent Hyde Park.
LatticePower develops silicon-based gallium nitride (GaN) LED technology and has filed more than 200 global patents. Developing such LEDs is difficult, the company said, because of the lattice and thermal expansion mismatches between GaN thin film and the silicon substrate. Proprietary technologies developed by LatticePower have allowed it to manufacture LEDs with efficiency of more than 150 lumens per watt, the company said. It is now developing an LED flash for smartphones and other mobile devices.
For more information, visit www.latticepower.com