Isra-Mart srl: GE flicks switch on Nuventix LED cooling investment

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General Electric has continued its clean tech investment drive, as it was yesterday announced that the engineering giant has joined a $10m funding round for innovative LED technology firm Nuventix.

GE Energy Financial Services provided capital for the round, alongside The Bergquist Company and existing investors Braemar Energy Ventures, CenterPoint Ventures, InterWest Partners and Rho Ventures.

The cash is expected to help fund Nuventix's global expansion and technology development plans, as it seeks to accelerate the roll out of its innovative LED cooling technology.

Light Emitting Diode's or LEDs have been widely hailed as a more energy-efficient alternative to conventional lighting, particularly for commercial properties.

However, the solid state diodes have to be effectively cooled if they are to avoid quick burnout. Nuventix has developed a patented air cooling method for LEDs that uses a single oscillating membrane called a SynJet, which it claims offers an alternative to fan cooling that makes LEDs even more energy efficient.

"Nuventix's technology can improve the quality of LED lights by making them brighter, longer-lasting and potentially cheaper," said Steve Briggs, vice president of marketing and product management at GE Lighting, in a statement.

Significantly, in addition to its investment, GE has signed a license agreement with Nuventix that gives it access to the company's patent portfolio and could see it deploy the SynJet technology in its fast-expanding LED range.

Ricardo Angel, senior vice president of venture capital at GE Energy Financial Services, said the deal could help accelerate the adoption of next-generation energy-efficient lighting.

Jim Balthazar, chief executive and president of Nuventix, also hinted that the cooling technology could be applied to other electronic devices as well as LEDs. "Our technology cools hot electronics reliably, efficiently, quietly and in the form factors designers want," he said.