Lumenpulse Inc., a Montréal-based manufacturer of high-performance, architectural LED-based lighting solutions for commercial, institutional and urban environments, has secured new financing totaling $5 million. The company’s backers are Canadian venture capital firms the Fonds de solidarité des travailleurs du Québec (FTQ) and Investissements W2, which invested C$3.3 million and $1.7 million, respectively. In 2011, Lumenpulse raised C$16 million in equity and debt, which included a term loan and working capital line of credit from Silicon Valley Bank.
Fonds de solidarité FTQ investissements croissance Invests $3.3 Million in Lumenpulse
MONTREAL, Feb. 20, 2013 /CNW Telbec/ – The Fonds de solidarité FTQ investissements croissance (FSIC) today announced a $3.3 million investment in Montréal-based Lumenpulse. FSIC’s partner, Investissements W2, is injecting $1.7 million.
Created earlier in 2012 by the Fonds de solidarité FTQ, FSIC is a partnership that employs an innovative co-investment approach to finance mature stage Québec companies in the information technology, telecommunications, digital technology and green technology sectors.
While other LED lighting manufacturers have their roots in either electronics or traditional lighting, Lumenpulse’s distinctive combination of both industrial design and electronics know-how has enabled the company to innovate ahead of its rivals and to offer more options for sustainable interior and exterior lighting.
“Encouraging Québec companies to develop green technologies also encourages job creation and a greener Québec,” said Alain Denis, Senior Vice-President, New Economy, of the Fonds de solidarité FTQ, and FSIC’s President. “FSIC’s investment is therefore perfectly in line with our sustainable development approach. Quebecers can be proud of companies like Lumenpulse that showcase Québec ingenuity around the world.”
“We strongly believe in the power of partnerships between private investors and institutional investment funds to support the growth of Québec companies through a much more entrepreneurial approach,” added Nicolas Bélanger, co-founder and senior manager of Investissements W2.
“We looked at several financial partners around the world and decided to make our most recent investment in Québec. FSIC proved to be a partner of choice, along with our shareholders, who all participated in this strategic round,” said in turn François-Xavier Souvay, President and CEO of Lumenpulse.
Last week, Lumenpulse received three “Recognized Winners” awards at the 2012 Next Generation Luminaires (NGL) Solid-State Lighting (SSL) Design Outdoor Competition. The NGL competitions are sponsored by the U.S. Department of Energy (DOE), the Illuminating Engineering Society (IES) and the International Association of Lighting Designers (IALD).
In Québec, Lumenpulse luminaires have been used to illuminate such landmarks as the Mount Royal Cross, historic buildings on McGill Street in Old Montréal, the Musée d’art contemporain, the Maison symphonique de Montréal, the Biosphere and the Théatre du Nouveau Monde.
The company’s other notable projects include the impressive Shard skyscraper in London, BC Place Stadium in Vancouver, Soldier Field in Chicago, General Motors Headquarters in Detroit and Åre Ski Resort in Sweden.
Founded in 2006 in Montréal where it is headquartered, Lumenpulse has a global presence through its U.S. headquarters and Global Technology Development Center in Boston, and EMEA Headquarters in London.
About the Fonds de solidarité FTQ
Created in 1983, the Fonds de solidarité FTQ has been driving our economy for 30 years. With net assets of $8.8 billion as of November 30, 2012, the Fonds is a development capital investment fund that channels the savings of Quebecers into investments in all sectors of the economy to help further Québec’s economic growth. Its investments contribute to the creation and maintenance of jobs in Quebec businesses and favour economic development. The Fonds is a partner, either directly or through its network members, of more than 2,000 companies. With close to 600,000 owner-shareholders, it has helped to create, maintain and close to 170,000 jobs. For more information, visit www.FondsFTQ.com.
About W2 Investments
W2 Investments is a private Québec investment firm that targets high-growth potential businesses. Taking an entrepreneurial approach, the partners guide companies in their development, maximizing their strengths and assets without necessarily changing their business practices or key human resources. A springboard for talent, W2 ensures the next generation of entrepreneurs, guarantees growth and brings added value that makes all the difference.
SOURCE: Fonds de solidarité FTQ
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