BOULDER, CO, Feb 20 (MARKET WIRE) --
Albeo Technologies, Inc. (www.albeotech.com), a fast-growing company
specializing in solid-state lighting, received a $1.5M equity investment from
an investment group led by Green Spark Ventures, LLC, a new Denver-based
cleantech
venture fund. This completes Albeo Technologies' first round of venture capital
financing, and the new capital is targeted at market and product expansion.
Albeo Technologies designs, manufactures, and markets white light emitting
diode
(LED)-based systems for commercial and industrial institutions. The company's
products provide a wide range of benefits that are unavailable from traditional
lighting technologies including: reduced energy consumption, zero maintenance
cost, no hazardous materials, and reduced heat loads, all while providing the
highest quality of illumination.
"There is a pent-up demand for low-maintenance, high-efficiency lighting
systems
that reduce corporate operational costs. Albeo's superior products meet that
need
and the company is seeing broad customer confirmation that they have hit the
mark," said Dave Ryan, managing director for Green Spark. "We are delighted to
invest in a company that is reducing operational costs and the carbon footprint
of global industry. Albeo's solid state lighting fixtures offer cost-effective
real-world solutions to the environmental problems we face today."
"Albeo has achieved a lot in less than three years, including successfully
launching
four major product lines, ramping production to ship over 20,000 units to date,
and developing multiple patents," said Jeff Bisberg, Albeo Technologies'
president and CEO. "We see wide spread acceptance for our LED lighting
solutions and with Green Spark's investment we now have the capital to
accelerate our growth." Albeo will be presenting at the 2008 Venture Capital
in the Rockies conference Feb. 27th, 2008.
Albeo Technologies Inc. manufactures high quality, long-lasting
solid-statelighting products for commercial and industrial facilities that save
energy,
reduce maintenance costs, and are safe and easy to install. Based on advanced
electro-optic technologies, Albeo's reliable lighting fixtures provide superior
performance at lower costs than competing technologies. Albeo's management team
has
decades of experience in solid-state product development and manufacturing, and
continues to deliver new products that enable users to better control their
total operating costs. For more information, product briefs, and
specifications, visit www.albeotech.com or call toll-free +1 (866) 825-5420.
Green Spark Ventures is an investment fund targeting early to
expansion-stage companies with products or services in the
renewable/alternative energy or clean technology arenas. Green Spark prefers to
look at companies with strong growth and profit potential, with a clear exit
strategy for participating investors. Early stage deals with potential for
long-term capital appreciation (3-7 years) are preferred. Companies should be
located in Colorado and be seeking capital in the range of $500,000 to
$2,000,000. Interested companies should contact Dave Ryan at
dave@greensparkventures.net.
CONTACT:
Sue Rose
Rose Public Relations
303.674.3459
Email Contact
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