Back to Blog January 31, 2012 in

Member Beringea Invests $3.2 Million in Relume Technologies

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Farmington Hills-based Beringea invested $3.2 million in Relume Technologies, which has closed its $7.0 million Series D financing round.

“Relume is growing rapidly – it roughly doubled its revenue in 2011 – and through its innovative technology and world-class management team, Relume is poised to secure a dominant position in the outdoor LED lighting market,” said Jeff Bocan, managing director for Beringea. “We are pleased to offer continued support as the company re-lights more cities and spaces with its superior long-lasting and energy efficient LED technology.”

Relume Technologies is a leading manufacturer of light-emitting diode (LED) products and smart grid control systems for outdoor lighting applications. Relume has installed outdoor lighting solutions in more than 1,000 outdoor facilities, producing up to a 50 percent energy savings per product. The company’s customers include Starbucks Coffee, US Cellular, McDonalds, Chase, Best Buy, and Lexus, among others. In addition, Relume has re-lit many cities across the country, including Ann Arbor, Mich.; Arlington, Va.; Canton, Ohio, and West Nottingham Township, Pennsylvania.

Beringea offers advice, guidance and capital to support growing businesses. With capital, experience and offices in the U.S. and UK, Beringea’s award-winning team offers its portfolio companies the resources to develop strategy, evaluate growth opportunities, solve problems and build value in a range of sectors.

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