Boulder, Colorado-based solid-state lighting manufacturer, Albeo Technologies, Inc., has received a $1.5 million equity investment from an investment group led by Green Spark Ventures, LLC, a new Denver-based cleantech venture fund.
The investment completes Albeo Technologies’ first round of venture capital financing, and the new capital is targeted at market and product expansion.
Albeo Technologies designs, manufactures, and markets white light emitting diode (LED)-based systems for commercial and industrial institutions.
LEDs provide a wide range of benefits that are unavailable from traditional lighting technologies including: reduced energy consumption, zero maintenance cost, no hazardous materials and reduced heat loads.
"Albeo has achieved a lot in less than three years, including successfully launching four major product lines, ramping production to ship over 20,000 units to date, and developing multiple patents" said Jeff Bisberg, Albeo Technologies’ president and CEO. "We see wide spread acceptance for our LED lighting solutions and with Green Spark’s investment we now have the capital to accelerate our growth."
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