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March 23, 2008 – Vol. 13 No.1 Luminus Devices Closes $72 million Venture Capital Investment. Luminus plans to use the capital to accelerate development of new products and expand into new lighting markets beyond its current focus of light sources for the TV and display industry. Luminus is considering opportunities in solid-state lighting that range from general commercial and consumer lighting to specialty applications such as medical, entertainment and homeland security. The company’s PhlatLight (R) high-brightness LED technology has enabled display applications that were previously out of reach for conventional light emitting diodes, according to the company. PhlatLight LEDs are currently replacing traditional lamps in projection TVs and digital projectors. Luminus plans to incorporate the PhlatLight technology into general illumination products.
Commenting on the latest investment Udi Meirav, CEO of Luminus Devices, Inc said, “This investment enables a new phase in the growth of our company, and it will provide us with the resources to expand our product line, serve new markets and deliver the full value of our technology to our growing roster of customers.” The venture capital investment syndicate was led by Boston-based Braemar Energy Ventures and included a number of other funds, notably San Francisco-based CMEA Ventures and Washington, D.C.- based Paladin Capital Group. Luminus Devices, Inc., of Billerica, Massachusetts, develops and manufactures high performance solid state light sources for a variety of illumination applications, including high definition TVs, video projectors, avionics displays, and lighting systems. (3/17/08)
Links: Luminus Devices PhlatLight (R)
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No
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