$10 Million and GE Collaboration Light Way for Growth of Nuventix, Maker of LED Cooling Technology
Nuventix, creator of an LED cooling technology for energy-efficient lighting, announced that GE has provided capital alongside other investors and recently entered into a license agreement to access Nuventix’s extensive patent portfolio.
GE unit GE Energy Financial Services and The Bergquist Company joined existing investors Braemar Energy Ventures, CenterPoint Ventures, InterWest Partners and Rho Ventures to complete a $10 million investment round to fund Nuventix’s global expansion and technology advancements. GE’s investment was made as part of its ecomagination Challenge, created to accelerate the deployment of innovative technologies through open collaboration and financial support. The license agreement between GE Lighting and Nuventix complements GE’s effort to develop reliable, longer-lasting LED products and systems. GE Lighting’s scientists and product developers see the Nuventix SynJet technology as an enabler of broader and faster LED module adoption.