Terralux raises $11 million in funding
Based in Longmont, Colorado, Terralux has raised $11 million in funding. EnerTech Capital led this round of funding. Terralux is known for designing and manufacturing LED lighting and building intelligence solutions. More details below:
LONGMONT, Colo.–(BUSINESS WIRE)–TERRALUX, Inc. announces that EnerTech Capital, a leading energy technology venture capital firm, led an $11 million growth investment in the company. Joining EnerTech in this round are investors Generation Investment Management, Crawley Ventures, Emerald Technology Ventures, GC&H Investments, and Founder & CTO Dr. Anthony Catalano.
“TERRALUX has built elegant solutions that allow building owners to begin retrofitting the enormous base of existing buildings with energy efficient LED technology,” said Bill Kingsley, Managing Director with EnerTech Capital. “The pace, quality and the market acceptance of their new product releases caught our attention. The new LEDSENSE® technology with sensory, communications and controls capabilities will allow building owners to take advantage of previously unavailable information. We believe in this strategy and look forward to working with the existing investors and management team to drive the rapid growth of TERRALUX.”
The funding will be used to continue TERRALUX’s strong sales growth and further develop its rapidly expanding portfolio of its LED retrofit products, OEM products and LEDSENSE® cloud-based technology.
“LED lighting retrofit is quickly becoming more than just saving energy,” said TERRALUX CEO Steve Hane. “The massive footprint of commercial buildings challenge basic and separate systems in use today. LED retrofit with a cloud-based lighting system is the most economical way to connect a building’s infrastructure to the Internet of Things (IoT). We are very pleased to have EnerTech endorse our strategy, join our investor group, and together with our existing investors, enable our continued growth.”
About TERRALUX Inc. TERRALUX designs and manufactures LED lighting and building intelligence solutions. TERRALUX’s illumination-grade technology can be found in commercial and industrial applications. TERRALUX solutions are easy to install, highly reliable and economical. TERRALUX holds 30 patents across the most critical aspects of LED technology. For more information visit: www.terralux.com.
About EnerTech Capital EnerTech Capital invests in companies that offer products or services that dramatically improve the profitability of producing or consuming energy. Founded in 1996, the firm has managed approximately $500 million and has delivered over 30 exits. EnerTech Capital is currently investing out of its fourth fund and has offices in Philadelphia, Toronto, Montreal and Calgary, and Menlo Park.