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Chrysalix Furthers Investments in 3 Energy Efficiency Companies
Thursday, December 22, 2011
Bridgelux, LBT & Nanosteel close $38 million in new financing from investors
VANCOUVER, BC – Today, Chrysalix Energy Venture Capital, the world’s most active cleantech venture capital firm in 2010, announced its continued support of three of its portfolio companies in one of the hottest cleantech sectors in 2011, energy efficiency. During the last four months of the year, Chrysalix participated in the following investment rounds:
- The additional $15 million raised in October by leading LED solution developer and manufacturer, Bridgelux Inc., specifically to further accelerate research, development, and scaling of the Company’s leading position in GaN-on-Silicon LED chip technologies, targeted for commercialization in 2013.
- The $5.9 million round announced in September by innovative LED control and power electronics solutions company, Light-Based Technologies Inc., marking the Company’s largest financing to date. As the largest shareholder in the Company, Chrysalix also helped bring in a proven management team from the Solid-State-Lighting (SSL) industry, and Richard MacKellar of Chrysalix was appointed Chairman of the Board.
- The oversubscribed $16.99 million financing round closed in October by nanotechnology-based steel alloy pioneer, The NanoSteel Company Inc., which included existing investors and a new, large strategic partner.
“These three portfolio companies all have game-changing technologies which could bring tremendous upside to their investors. With this important financing under their belts, they are poised for growth in 2012 even if global economic growth slows down,” said Wal van Lierop, President & CEO of Chrysalix. “We see huge potential in the energy efficiency sector and in the years to come, as saving energy directly translates into cost savings.”
Eight of Chrysalix’ portfolio companies are in its “Energy Use” investment category, including recent new addition, GaN Systems. And in June, Chrysalix sold its electric vehicle (EV) fast-charging company, Epyon Power Inc., to ABB in the largest EV infrastructure deal to date. The Firm continues to look at breakthrough technologies in the energy efficiency space in its quest to find solutions for the new energy economy.
About Chrysalix Energy Venture Capital
Chrysalix is a venture capital firm investing in technologies that will drive the new energy economy. The Firm provides early-stage financing, hands-on assistance, and strategic connections to innovative companies confronting the world’s most important energy and environmental issues. In the past few years, the Firm has consistently ranked among the top most active clean energy technology venture capital firms in the world and in 2010, was listed as the most active cleantech VC by the Cleantech Group. The Chrysalix team has an exceptional track record in this emerging industry. Collectively, it has over 120 years of experience in the energy industry and over 120 years in the venture capital business. The Firm is backed by a strong group of international blue-chip industrial and financial Limited Partners, and is headquartered in Vancouver, British Columbia. In total, Chrysalix has approximately $300M in assets under management. For more information, please visit http://www.chrysalix.com.
Magnolia Marketing Communications
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