LED firm adds cash

LED firm adds cash
The province is into LED Roadway Lighting Ltd. to the tune of $10 million Tuesday after Nova Scotia Business Inc. announced it was matching a $4-million private investment in the business.

Cycle Capital Management Inc. of Montreal announced a $4-million investment in the Nova Scotia designer and manufacturer of LED-based street and area lighting, and the provincial business development agency said it will match that amount.

"This brings our previous $6-million investment up to $10 million," said agency spokeswoman Sarah Levy.

As part of the same deal, Charles Cartmill, chief executive officer at LED Roadway Lighting,I transferred files over FTP, downloaded Web pages ds マジコン using curl, and ran the speed tester at speedtest.net.Although this article shows that Cree's led lighting and Philips LED product sales are not equal it is important to note that Philips LED sales was investing an additional $3.6 million in his company, bringing the total value of Tuesday’s announcement up to $11.6 million.

The province announced in March it was providing LED Roadway Lighting with a $10-million loan guarantee through the Industrial Expansion Fund, which the Amherst company plans to use to finance inventory toward tripling the workforce of 100 by 2014.

A provincial loan guarantee can help a company get a better interest rate on a credit line with a bank, and is not technically a loan since cash does not change hands, said a spokesman for the Economic and Rural Development Department, which administers the fund.The settlement resolves the commonwealth's claims fluorescent lights that EarthTronics Inc., which sells mercury-containing compact fluorescent light bulbsCompact fluorescent light bulbs convert a led tube considerably higher percentage of their energy into light, which is why they are significantly more energy efficient than traditional filament bulbs.

Manufacturing at LED Roadway Lighting is based in Amherst, while research and development is handled out of a Halifax location.

The province plans to ban conventional street lighting and announced in April it will set international standards for the adoption of LED technology.

Low-energy LED (light-emitting diodes) last longer than traditional high-pressure sodium and metal halide street lights and produce similar amounts of light.

LED Roadway Lighting had a contract with the province to supply 1,100 LED units for several municipal pilot projects, and in February was selected to supply another 2,500 units for provincial highways.

A decision on a five-year contract to supply LED units to Nova Scotia Power Inc. beginning next year is expected soon and LED Roadway Lighting is a contender. The utility owns about 90 per cent of the province’s street lights.The replacement lighting we feel is far led downlight superior to that of the LED lighting.

Cycle Capital is a Canadian venture capital fund that specializes in the clean-tech sector.

"At Cycle Capital, we’re committed to finding outstanding entrepreneurs who develop and commercialize clean technologies," Andree-Lise Methot, founder and senior partner, said in a news release.