Friday March 6, 2015 0 comments
LONGMONT - Terralux Inc., a designer and manufacturer of LED lighting and building intelligence solutions, announced that EnerTech Capital led an $11 million growth investment round in the company.
EnerTech is a leading energy technology venture capital firm. Joining EnerTech in the round were Generation Investment Management, Crawley Ventures, Emerald Technology, GC&H Investments, and Founder and CTO Dr. Anthony Catalano.
"Terralux has built elegant solutions that allow building owners to begin retrofitting the enormous base of existing buildings with energy-efficient LED technology," said Bill Kingsley, EnerTech Capital managing director.
"The pace, quality and the market acceptance of their new product releases caught our attention. The new LEDSENSE technology with sensory, communications and controls capabilities will allow building owners to take advantage of previously unavailable information.
"We believe in this strategy and look forward to working with the existing investors and management team to drive the rapid growth of Terralux."
The company said the funding will be used to continue its strong sales growth and further develop its rapidly expanding portfolio of LED retrofit products, OEM products and LEDSENSE cloud-based technology.
"LED lighting retrofit is quickly becoming more than just saving energy," said Steve Hane, Terralux CEO. "The massive footprint of commercial buildings challenges basic and separate systems in use today.
"LED retrofit with a cloud-based lighting system is the most economical way to connect a building's infrastructure to the Internet of Things. We are very pleased to have EnerTech endorse our strategy, join our investor group and, together with our existing investors, enable continued growth."