Nuventix, an Austin, TX-based developer of an LED cooling technology for energy-efficient lighting, has received $10m in financing.
Investors include GE unit GE Energy Financial Services and The Bergquist Company, which joined existing investors Braemar Energy Ventures, CenterPoint Ventures, InterWest Partners and Rho Ventures.
The company intends to use the funds for global expansion and technology advancements.
Led by CEO and president Jim Balthazar, Nuventix has developed a method for moving air to cool LEDs using a single oscillating membrane, called a SynJet® (http://www.nuventix.com/synjet_flash_demo/), as an alternative to traditional fans. It allows lighting fixture companies to employs Nuventix’s technology for spot, down, track and accent lighting fixtures that also use high-brightness light engines.
GE’s investment was made as part of its ecomagination Challenge. In addition, GE Lighting signed a license agreement to complement, via Nuventix SynJet technology, GE’s effort to develop LED products and systems.
FinSMEs
20/07/2011