QD Vision Receives $3 Million to Ramp Up Commercialization of Energy Efficient Technology for Lighting and Flat Panel Displays

01/21/10
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WATERTOWN, MA -- January 21, 2010 --QD Vision, Inc. (www.qdvision.com), developer of Quantum Light™ nanotechnology-based products for solid state lighting and displays, announced today that DTE Energy Ventures has invested $3 million in the company. The funding will support QD Vision’s market expansion of quantum dot-based nanomaterials that enable major efficiency gains in high-quality solid-state lighting and flat panel displays.

“DTE Energy is actively participating in developing clean-energy solutions with its investments in some of the world’s most exciting startups in renewable energy, energy efficiency and energy storage solutions.” The investment follows a $10 million initial close of funding announced last month by the company.

“DTE Energy’s investment in QD Vision is a significant endorsement of our Quantum Light™ product platform, which will improve the quality of solid state lighting and displays while dramatically reducing power consumption and costs,” said Dan Button, CEO of QD Vision. “DTE Energy is actively participating in developing clean-energy solutions with its investments in some of the world’s most exciting startups in renewable energy, energy efficiency and energy storage solutions.”

Knut Simonsen, president, DTE Energy Ventures, said DTE Energy is pleased to partner with QD Vision and its highly talented team. “QD Vision’s Quantum Light™ platform will help lighting and display manufacturers reduce the carbon footprint of their products even as they continue delivering higher quality, better efficiency and lower costs for customers,” Simonsen said. “This technology promises to set a new standard for these multi-billion dollar global industries.”

Mike McNalley, Director of Energy Efficiency and Business Energy Services, DTE Energy, said “We look forward to creating more LED lighting options for our customers with QD Vision products. We plan to encourage QD Vision to team up with Michigan based LED lighting companies and broaden their market reach.”

QD Vision’s first product, announced in 2009, is a Quantum Light™ optic for a new high- efficiency, high-color-quality LED lamp developed by Nexxus Lighting, Inc. (NASDAQ:NEXS), that combines the warmth and color of incandescent bulbs with the efficiency of LED technology. The power-saving lamp, expected to ship in the first quarter of 2010, can be directly installed in standard Edison sockets used by today’s incandescent bulbs. Meanwhile, QD Vision is actively working with several worldwide major manufacturers to design its Quantum Light™ optic into a number of SSL lamps and fixtures.

Founded in 2004 by a research team from MIT, QD Vision has raised a total of $33 million in venture capital financing. Other investors include North Bridge Venture Partners (www.NBVP.com), Highland Capital Partners (www.HCP.com) and In-Q-Tel (www.IQT.org).

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