Mar 6 2015
TERRALUX, Inc. announces that EnerTech Capital, a leading energy technology venture capital firm, led an $11 million growth investment in the company. Joining EnerTech in this round are investors Generation Investment Management, Crawley Ventures, Emerald Technology Ventures, GC&H Investments, and Founder & 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, Managing Director with EnerTech Capital. “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 funding will be used to continue TERRALUX’s strong sales growth and further develop its rapidly expanding portfolio of its LED retrofit products, OEM products and LEDSENSE® cloud-based technology.
“LED lighting retrofit is quickly becoming more than just saving energy,” said TERRALUX CEO Steve Hane. “The massive footprint of commercial buildings challenge 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 (IoT). We are very pleased to have EnerTech endorse our strategy, join our investor group, and together with our existing investors, enable our continued growth.”
Source: http://terralux.com/