LUXIM CEO Tony McGettigan shows off LiFi light sources compared to HID at ECO:nomics 2011,
where LUXIM received the Wall Street Journal's "Next Big Thing" award.
SUNNYVALE, Calif., Mar. 02, 2011—Today, the Wall Street Journal named LUXIM a winner in its Next Big Thing: Top 10 Venture-Backed, Clean Technology Companies Award. The award ranks companies for entrepreneurial pedigree, growth and investor success, among other things. 516 US-based venture- backed clean-tech companies were considered. All had a valuation of less than $1 billion. Winners were recognized during the Wall Street Journal’s ECO:nomics conference held this week in Santa Barbara, Calif. The conference gathers CEOs, entrepreneurs, environmental and energy experts, and global policy makers at the intersection of business and the environment. LUXIM CEO, Tony McGettigan addressed attendees in a session featuring the winners.
“We’re honored to be included in this prestigious ranking,” said CEO McGettigan. “It’s inspiring for our team to be at the forefront of energy-efficient lighting as the transition to sustainable light-source solutions accelerates. Today, our Light Emitting Plasma™ [LEP] technology is saving energy and money for municipalities and corporations on four continents. In city streets, industrial work areas, parking lots and other venues, LEP-enabled light fixtures are cutting energy by 50 percent while providing better-quality light at a much lower overall cost.”
The award caps a year of deployment milestones for LEP. Scottsburg, Indiana became the first city in the US to upgrade its municipal lighting by switching to LEP. In China, the streets of three cities are now illuminated by LEP. Australia followed suit when the country’s leading lighting company joined forces with LUXIM last June to bring LEP to customers in the region. All were drawn to LEP for its efficiency, cost and quality advantages. With its compact form factor—the size of a tic-tac—it can be flexibly deployed to deliver energy savings in multiple applications, while its 50,000-hour life is three times longer than conventional high- intensity discharge lamps. Moreover, LEP can be dimmed to 20 percent—a feature that offers additional energy savings.
The Next Big Thing survey is based on proprietary data from Dow Jones VentureSource which tracks more than 48,000 venture-backed companies in the U.S., Canada, Europe, China and India, as well as over 14,000 private investment firms worldwide. Companies are eligible for The Next Big Thing ranking if they raised an equity round of financing in the last three years and carry a valuation of $1 billion or less. A team of Dow Jones VentureSource reporters also provides perspective beyond the financial metrics.
