Reuters: Private Equity: Bridgelux wins investment from Toshiba

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Bridgelux wins investment from Toshiba May 10th 2012, 19:59 SAN FRANCISCO | Thu May 10, 2012 3:59pm EDT SAN FRANCISCO May 10 (Reuters) - Toshiba Corp is making a strategic investment in light-emitting diode lighting company Bridgelux, the companies said in a press release, signaling the growing importance of long-lasting, low-power lighting technology. The companies declined to disclose the size of the investment, but someone familiar with the matter said it was in the tens-of-millions range. In a project they have been working on together, the companies also said they have reached a breakthrough that allows for brighter light using a smaller chip. Creating truly bright light has long proven a challenge for LED developers. Livermore, Calif.-based Bridgelux designs LED chips for both commercial uses-- largely street lighting-- and residential. It has raised over $220 million from backers including VantagePoint and DCM, and was considered a likely initial public offering candidate for later this year. After solar developer BrightSource pulled its IPO filing last month, most greentech companies have put their own IPO plans on the back burner. (Reporting By Sarah McBride; editing by M.D. Golan)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions