TerraLUX Announces US$5.6 Million Financing to Expand its LED Lighting Business

TerraLUX is pleased to announce that it has closed a USD 5.6 million Series A venture capital financing. The round was led by Emerald Technology Ventures with participation from existing investor Access Venture Partners.

TerraLUX is a leading provider of high brightness, energy efficient LED modules for use in the general illumination and portable device markets. Founded in 2003 by Dr. Tony Catalano, TerraLUX initially targeted the portable device market with considerable success and grew from that foundation into the general lighting market. In 2009, TerraLUX added Jim Miller, formerly VP Sales, Global Geographic Regions from one of the largest LED lighting companies in the world to their team as President & CEO.

The new capital will be used to accelerate the company’s growth in all segments of the business with a particular development focus on the rapidly expanding commercial general illumination products and LED Modules.

“This investment marks a significant growth milestone for TerraLUX and is a strong endorsement of the accumulated intellectual property, robust and diverse customer base and TerraLUX success in solid state lighting,” said Jim Miller, President and CEO of TerraLUX. “We are pleased to have partnered with Emerald given their understanding of the sector, strong track record, international network and philosophy of working together as a team to achieve great success. We are also pleased with the ongoing support of Access Venture Partners.”

“TerraLUX has all the elements we look for in an excellent investment opportunity. It is a capital efficient business, has a superior product platform and demonstrated product performance. Alongside of an established and growing revenue base and a spectacular team capable of executing on high growth markets, TerraLUX uses the latest high-power LED components to produce exceptional products and distributes LED-based lighting solutions to a variety of markets,” said Whitney Rockley, Partner with Emerald Technology Ventures. “We are delighted to work alongside of Jim Miller, Tony Catalano and David Gold (Partner, Access Venture Partners) to grow TerraLUX into a world-class LED module company.” As part of this financing, Whitney Rockley has joined the TerraLUX Board of Directors.

Source: http://www.terraluxcorp.com