Capricorn Cleantech Fund and LRM are planning to invest €20m in Ducatt NV, a Belgium-based solar-glass start-up.
Due to the banning of the incandescent light bulbs from the European market in 2012 light bulb producer Emgo NV has been obliged to take measures and to focus on new growth markets. For this reason, shareholders Philips Lighting and Osram have agreed to spin-out the lightbulb production from Emgo.
With the support from CCF and LRM, which have conditionally agreed to each invest €10m, two members of the management team of Emgo will launch Ducatt and offer jobs to 100 Emgo employees.
The company’s light bulb production line will be converted into a high value production facility for speciality glass for the photovoltaic industry.