LED Lighting Fixtures Inc., a Morrisville, N.C.-based maker of light fixtures for general illumination from LED light sources, has raised $16.5 million in private equity funding. The round was led by Digital Power Capital, a fund managed by Wexford Capital.
LED Lighting Fixtures, Inc. (LLF), which develops and markets the first and only viable light fixtures for general illumination from LED light sources, today announced that it has raised $16.5 million in an equity financing round which was lead by Digital Power Capital LLC, a Wexford Capital fund. LLF plans to use the proceeds to significantly expand its product line and accelerate research and development efforts.
Mark Mills, Founding Partner of Digital Power Capital, said, “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.”
According to Mike Rogers, LLF's President, “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.”
The LR6 six-inch downlight incorporates LLF's patented technology, contains no toxic mercury and is designed for 50,000 hours of lifetime. Its beautiful color characteristics and high CRI allow residential and commercial spaces to look attractive while maximizing energy savings. The LR6 product is selling in volume quantities in warm (2700K) and neutral (3500K) white colors.
About LED Lighting Fixtures, Inc.
LED Lighting Fixtures, Inc. (LLF) is a privately held company headquartered near