A home-grown Nova Scotia company continues to shine brightly with its LED-based street lighting fixtures.
The province, through NSBI, is supporting LED Roadway Lighting's continued growth with a $6-million equity investment.
"LED Roadway Lighting has grown a solid business in Nova Scotia and now has an opportunity to become a world-leading provider of innovative, energy-efficient LED lighting," said Percy Paris, Minister of Economic and Rural Development. "We are proud to partner with exciting businesses like LED Roadway Lighting."
With a research office in Halifax and a manufacturing plant in Amherst, the company has created a series of street light fixtures that are more energy efficient than current technologies. LED Roadway Lighting fixtures produce the same amount of light, but consume up to 80 per cent less energy than common high-pressure sodium and metal halide street lights.
"We're excited to be moving forward and growing our business here in Nova Scotia and sharing our product with the world," said Chuck Cartmill, founder of LED Roadway Lighting Ltd. "The technology we have developed is the most efficient in the world and the additional applications are limitless."
The company's light-emitting diode lights have grown in popularity for many reasons, including low power consumption, a long lifespan, and the fact that they promote environmental sustainability. The lights contain no lead or mercury, and emit no light toward the sky. LED Roadway Lighting is conducting pilot projects throughout North America and the Middle East, and is expanding to Europe and the Caribbean as well.
LED Roadway Lighting will continue to build on its state-of-the-art research into electronics and optics design. The company is also researching wireless and solar applications.
"While it's hard to deny the uncertainty in today's economic climate, Nova Scotia businesses are still taking chances, investing in themselves, competing, and winning in the global economy," said Stephen Lund, president and CEO of NSBI. "LED Roadway Lighting is a great example of how local businesses are taking smart risks that can reap big rewards."
Nova Scotia Business Inc. is Nova Scotia's private-sector-led business development agency. NSBI is the investment-attraction arm of the province and helps businesses in Nova Scotia meet growth potential through advisory services, trade development, financing and venture capital.
NSBI Venture Capital is a mid- to late-stage investor focusing on Nova Scotia businesses in five key sectors: information and communications technology, defence and aerospace, energy, advanced manufacturing, and life sciences.