Wednesday, August 25, 2010

Lumenergi Raises $12.7M

Newark-based Lumenergi, a developer of networking energy efficient lighting systems, said Wednesday that it has raised $12.7M in a Series B round of funding. The funding was led by Braemer Energy Ventures, and also included Townsend VC LLC, Low Carbon Accelerator Ltd. and Noventi Ventures. As part of the funding, Braemer's Dennis Costello joins the company's board. Lumenergi said the funding will help it expand into large-scale commercial and industrial buildings, as well as for sales, marketing, and customer service. The firm says its system enables building owners and managers to control their lighting systems down to individual light fixtures, saving 34 to 40 percent on annual electricity consumption. More information »