Digital Lumens has reported 150% growth in its customer base in the past year, now saving its customers a combined 250 million kWh and $25 million in energy bills. The company says that the recently completed round of funding will support continued growth and dominance in the smart LED lighting market.
According to estimates by Canaccord Genuity in the "Third Cycle V2.2" the overall LED lighting market grew 94% from 2011 to 2012. Digital Lumens grew much faster than the overall market as customers deployed the Digital Lumens solution – oftentimes with multi-site roll-outs – based on the company’s growing reputation and demonstrated energy savings.
As the company continues to thrive and expand into new markets, its technology deployments can be found across a range of commercial and industrial facilities worldwide. The rapid adoption is attributable to proven results: up to 90% energy savings, half from the innate efficiency of LEDs, and half from Digital Lumens’ patented integrated intelligence. The cumulative energy savings represent a 150% increase over the April 2012 announcement that the company was saving over 100 million kWh per year for its 200 customers.
Mike Feinstein, VP of Sales and Marketing at Digital Lumens, told AZoOptics, "Our systems are now installed in 500 facilities, accounting for about 50 million square feet, or 5 million square meters of space. In total our customers are saving over 250 million kWh of energy per year, which is a huge amount of energy. The customer-nominated awards we have won recently combine with these figures to demonstrate our leadership in the smart lighting sector."
During 2012, Digital Lumens expanded its patent portfolio for the energy-focused controls that make the Digital Lumens solution the most energy efficient LED lighting solution available. VP of Sales and Marketing Mike Feinstein commented, "We have expanded our product range significantly during 2012, which has allowed us to move into a range of new environments. To begin with the largest portion of our business was in cold storage, but that area now accounts for just a tenth of the total. Our customer base now includes all kinds of ambient temperature warehousing, manufacturing and production sites, and a wide variety of other facilities."
"Our customers are saving over 250 million kWh of energy per year"
Mike Feinstein, VP, Digital Lumens |
As it positions for further success in 2013, the company has closed a $10 million round of funding from existing investors including Black Coral Capital, Flybridge Capital Partners, and Stata Ventures (Stata Venture Partners).
“These impressive numbers are proof that the lighting market is moving rapidly to LED, and that Digital Lumens continues to set the standard for performance, efficiency, and value with our customers,” said Tom Pincince, President and CEO of Digital Lumens. “While we have established a leadership position in the industrial vertical, our integrated intelligence is applicable to the entire lighting market. We will use this latest investment to accelerate our expansion into new segments and international markets, and to further develop our product and service offerings.”
About Digital Lumens
Digital Lumens is redefining industrial lighting with intelligent LED lighting systems and service offerings that deliver unmatched energy savings, flexibility and unique value to commercial and industrial customers. Proven in hundreds of facilities to reduce lighting energy use by up to 90%, the patented system is setting the standard for industrial lighting in both retrofits and new construction. For more information, please visit www.digitallumens.com. Follow Digital Lumens on Facebook,Twitter, LinkedIn and YouTube.