LED Lighting Raises $16.5M
MORRISVILLE, N.C., Nov. 2, 2007 -- LED Lighting Fixtures Inc. (LLF), a developer of LED fixtures for general lighting applications, today announced that it has raised $16.5 million in an equity financing round led by private equity firm Digital Power Capital LLC.
"We are thrilled by the market acceptance of our product and the strong demand that we are seeing. With the close of our financing round, we expect to launch new products early next year that will include a four-inch downlight as well as a recessed architectural lay-in fixture that will be suitable for commercial and office environments," said LLF President Mike Rogers.
In addition to funding its product expansion, LLF said the money will help accelerate research and development efforts at its Morrisville facility.
"We are deeply impressed with the comprehensive intellectual property, in addition to the technology savvy and remarkably capable team at LLF. Our fund is interested in companies that are leaders of change for power conversion in the 21st century, especially where emerging technologies provide both efficiency and inherently superior qualities. LLF is clearly at the epicenter of this transformation and will likely change the lighting industry," said Mark Mills, founding partner of Digital Power Capital, a Wexford Capital fund.
For more information, visit: www.llfinc.com
- The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
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