LBT closes round of financing
Vancovuer announces the final closing of their $2M A Round of financing. The deal will give Light-Based Technologies the financial support required to complete development and launch of their LB4 family of ICs for the control of Solid State Lighting (SSL) products.
Light-Based Technologies has been developing technology around LEDs since 2004 and is currently working hard to grow their patent portfolio. LEDs, though they do offer very attractive energy saving properties, have the potential to deliver higher quality and more controllable light sources than traditional lighting solutions.
It is in the area of control that Light-Based Technologies offers an economical, best-in-class dimming, color-controllable, feed forward system to deliver these superior results. It offers products that benefit all stakeholders in terms of lower power consumption and longer product life span.
SSL is both an important and exciting field. Financially, exponential growth is projected over the next few years as a result of regulatory changes and LED technology developments. SSL is equally exciting because of its energy efficiency and positive environmental impact.
To date Light-Based Technologies has received great interest in licensing their technology for a variety of applications from general to decorative lighting. They expect to bring their first products showcasing their analog control technology to market with a partner company within the next 12 months.
Starting in the Lower Mainland of British Columbia, LBT has now grown to ten full time employees and sees further growth over the coming months as it looks to bring in more technical expertise to take advantage of the market opportunity.
News are collected by www.ledsigns.cn
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