Posts Tagged ‘inv:Israel-Cleantech-Ventures’
Metrolight, a company that produces technology for so-called HID lamps, used in expansive areas such as streets, factories and warehouses, has raised $9 million from Virgin Fuels and others.
Lighting absorbs about 26 percent of electricity generated in the U.S. Fluorescent lighting has gotten the most attention as a source of energy saving, because it is an alternative to residential lighting. HID, however, makes up 22 percent of all lighting, according to the U.S. Department of Energy — so it’s also a huge market.
HID is more efficient than other forms of lighting used for expansive areas. For example, in Victoria’s secret stores there are 100 small HID lamps in a row, each the size of a half-dollar and putting out only 39 watts. There are about 150 million HID sockets in the U.S. Here’s a definition of HID or the most efficient lighting that is used in , which stands for High Intensity Discharge.
The funding comes from Richard Branson’s Virgin Fuels, along with Gemini Israel Funds, Israel Cleantech Ventures and Altshuler Shaham.
Specifically, Metrolight builds more energy-efficient electronic ballasts for HIDs. Ballasts are key components that are used to ignite the lighting.
Metrolight says its products reduce lighting costs by up to 65 percent, compared to lighting produced by conventional magnetic ballasts. Metrolight, based in Brentwood, Tenn., says its HID ballasts lets lights dim more efficiently when light is not needed.
Its product operates at 110 kilohertz, a much higher frequency than the 60 hertz frequency used by the convention technology of competitors. The higher frequency allows the electrodes to be constantly heated, and therefore causes less wear and tear to the lamps over time, according to Randy Reid, Metrolight’s executive VP and sales manager.
The company’s manufacturing is based in China. The company was founded in 1996, and is raising capital because of the growing market for lighting technology that is more energy efficient, Reid said.
Competitors are General Electric and Philips.
The company had previously raised $14 million.
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