LED Roadway Lighting Ltd. (LRL), a Halifax based manufacturer of LED-based street lighting and wireless controls, announced a $9.5 million equity investment today, the majority of which will come from LRL CEO/President Charles Cartmill, equity from LRL’s Board of Directors, and a $1 million Nova Scotia Business Inc. (NSBI) debenture conversion. This investment will allow LRL to finance global projects and technology development.
LRL products are installed in more than 37 countries worldwide. The company has experienced an average sales growth of 48% per year for the each of the past three years and continues to show significant growth. Key markets include North America, the Caribbean, Latin America, the UK, and Australia.
In 2013, LRL launched its proprietary Lumen IQ control suite, which allows municipalities and utilities to wirelessly control and manage street lighting assets. The company also announced smart grid technology partnerships with two of the industry’s leading smart grid networking players (On-Ramp Wireless Inc., and Silver Spring Networks). LRL is a leader in Smart City initiatives and will soon announce details regarding a country-wide deployment which will be the first of its kind. Also in 2013, LRL released the latest in its line of innovative LED luminaires – the NXT. NXT is the world’s first “future proof” street light, with components that can be upgraded to take advantage of future improvements in LED efficiency – all without tools. On February 26, 2014, the NXT-S was selected as “Best in Class – Local Residential” in the Next Generation Luminaires™ (NGL) Design Competition. This competition is sponsored by the Illuminating Engineering Society, the U.S. Department of Energy, and the International Association of Lighting Designers and “seeks to encourage technical innovation and recognize and promote excellence in the design of energy-efficient LED luminaires.”
LED Roadway Lighting Ltd. is a Canadian-owned and operated clean technology company that designs and manufactures energy efficient LED streetlights and adaptive control solutions. Our goal is to create positive environmental change through the development of future-proof products and sustainable technology solutions. Our LED luminaires are designed to provide on-going maintenance savings, long-term energy savings, and a short return on investment for our customers. Our environmentally friendly luminaires improve safety and lighting quality while reducing energy consumption, light pollution, and carbon emissions. On average, our LED luminaires provide 60% energy savings versus conventional technology. Our smart street lighting products are installed worldwide in more than 60 countries.