Kaistar Lighting Agreed to Invest $25 Million in Bridgelux

Bridgelux Inc., a leading developer and manufacturer of LED lighting technologies and solutions, today announced that Kaistar Lighting (Xiamen) Co., Ltd. has agreed to invest $25 million in the company. Bridgelux will use the equity investment to further accelerate research, development, and production of LED chip and packaging technology for general illumination applications. "The market for solid state lighting is expected to grow from $3 billion in 2011 to more than $25 billion in 2015,” said Bill Watkins, Bridgelux’s Chief Executive Officer. “This investment marks the beginning of our cooperation with Kaistar to lead the transition to solid state lighting. Kaistar’s cost-competitive manufacturing capabilities combined with Bridgelux’s high performance packaging solutions will continue to drive down the cost of solid state technology for general lighting, helping to more rapidly expand the market for LED.” Source: tmcnet.com