Bridgelux Inc. said that it raised $25 million from Kaistar Lighting (Xiamen) Co., Ltd. The money will allow the maker of LED chips for lighting to accelerate research, development, and production of its chips and packaging technology.
KAISTAR LIGHTING INVESTS $25 MILLION IN BRIDGELUX
LIVERMORE, CALIF., February 13, 2012 – Bridgelux Inc., a leading developer and manufacturer of LED lighting technologies and solutions, today announced that Kaistar Lighting (Xiamen) Co., Ltd. has agreed to invest $25 million in the company. Bridgelux will use the equity investment to further accelerate research, development, and production of LED chip and packaging technology for general illumination applications.
“The market for solid state lighting is expected to grow from $3 billion in 2011 to more than $25 billion in 2015,” said Bill Watkins, Bridgelux’s Chief Executive Officer. “This investment marks the beginning of our cooperation with Kaistar to lead the transition to solid state lighting. Kaistar’s cost-competitive manufacturing capabilities combined with Bridgelux’s high performance packaging solutions will continue to drive down the cost of solid state technology for general lighting, helping to more rapidly expand the market for LED.”
Bridgelux is a leading developer and manufacturer of technologies and solutions transforming the $40 billion global lighting industry into a $100 billion market opportunity. Based in Livermore, California, Bridgelux is a pioneer in solid-state lighting (SSL), expanding the market for light-emitting diode (LED) technologies by driving down the cost of LED lighting systems. Bridgelux’s patented light source technology replaces traditional technologies (such as incandescent, halogen, fluorescent and high intensity discharge lighting) with integrated, solid-state lighting solutions that enable lamp and luminaire manufacturers to provide high performance and energy-efficient white light for the rapidly growing interior and exterior lighting markets, including street lights, commercial lighting and consumer applications. With more than 600 patent applications filed or granted worldwide, Bridgelux is the only vertically integrated LED manufacturer and developer of solid-state light sources that designs its solutions specifically for the lighting industry. For more information about the company, please visit www.bridgelux.com.