Austin, TX (PRWEB) March 6, 2011
The State of Texas Emerging Technology Fund recently announced that it has awarded $3 million to Austin Technology Incubator (ATI) member company Firefly LED Lighting for product commercialization.
Energy industry regulators in the United States and worldwide are phasing out incandescent and fluorescent lighting in favor of LED (light-emitting diode) technology to save energy costs and lessen environmental impact. Firefly LED Lighting products are more energy efficient and longer lasting than conventional lighting, lowering consumer costs by over 80 percent for energy and 96 percent for maintenance and increasing ROI with a quick payback.
Firefly LED Lighting products provide a 32 percent reduction in temperature, 48 percent increase in thermal conductivity, an up to 223 percent increase in surface area, and up to 40K hours of light output, along with added light and motion sensors and controls.
Firefly products are manufactured in Texas, which helps strengthen the local economy and create jobs. Firefly CEO Steve Barcik said “We are very excited to be awarded the ETF grant to help commercialize our products. It is a big vote of confidence and validates our business model. The Texas Emerging Technology Fund cultivates the powerful entrepreneurial community in Texas and it is an honor and a privilege to work together with them to grow the economy and put Texans back to work.”
Last week, Firefly launched a complete series of spot and flood lamps for indoor and outdoor use. Firefly’s modular heat sink and driver technology ensure that the lamps will provide years of service and save thousands of dollars.
Barcik said Firefly has a powerful relationship with ATI, including regular advisory meetings and networking opportunities with local clean tech entrepreneurs, venture capital investors, government officials, and potential customers.
Clean Energy Incubator Director Mitch Jacobson said “Steve Barcik and his team have been the consummate group to work with through our Clean Energy Incubator. Steve came to us a year and a half ago with his cutting-edge lighting ideas and technology, and it has been a real pleasure and honor to work with him to get to this stage of success of receiving Emerging Technology Funding and starting product commercialization in a vital area of energy efficiency in buildings around the world.”
About the Austin Technology Incubator
The Austin Technology Incubator is a nonprofit unit of The University of Texas at Austin that harnesses business, government and academic resources to provide strategic counsel, operational guidance and infrastructure support to its member companies to help them transition from early stage ventures to successful technology businesses. Since its founding in 1989, ATI has worked with over 200 companies, helping raise close to $750 million in investor capital. ATI is a key program of the IC2 Institute at The University of Texas at Austin. For more information, visit http://www.ati.utexas.edu.
About Firefly LED Lighting
Firefly provides full range of “Smart LED” light bulbs for direct replacement of incandescent and fluorescent bulbs. Firefly’s LED lights are low energy, low heat and have a long life allowing customers to reduce heat and energy costs by up to 90 percent. Control and sensors are built into the lamps to create a smart construction from the socket down. Firefly has designed lights that meet customer and market demand for light output and reliability. Anywhere you see a light source you will see Firefly lamps, bulbs, and fixtures. For more information, visit http://www.fireflyledlight.com.
CEO of Firefly LED Lighting