Jul 22 2015
Bridgelux, a leading developer and manufacturer of LED lighting technologies, today announced that its Board of Directors has approved a plan to spin off its Smart-Lighting LED platform business under the name of Xenio Corporation in conjunction with the sale of Bridgelux to an investment group led by the China Electronics Company (CEC).
Xenio will focus on the development of software-enabled LED modules for the emerging Internet of Things (IoT) market, benefitting from partnerships and investments from Bridgelux, Toshiba, DCM Ventures, VantagePoint Capital Partners, and other ecosystem partners.
The new company, which will have independent, dedicated engineering and go-to-market teams located in San Francisco, will be overseen by Brad Bullington, as Executive Chairman. Mr. Bullington, who is also the Chief Executive Officer of Bridgelux, will leverage the leadership talent of Bridgelux while seeking additional expertise from the IoT and building management industries.
Having incubated a number of core technology assets and IP over the past two years inside of Bridgelux, Xenio will have a running start at addressing the $135B IoT opportunity in lighting. Most recently, the company announced the launch of its Xenio™ Point, Xenio Link, and Xenio Power solutions at Lightfair International in New York. The products will ship in volume later this year.
“Establishing Xenio as a stand-alone company is a significant acknowledgment of the unique capabilities required to serve a new set of connected lighting and data infrastructure platforms which we believe will unlock the potential of solid state lighting technology,” stated Brad Bullington, Executive Chairman at Xenio. “We are creating a new company that has a strong LED heritage and all of the requisite tools to grow its business. At the same time, this transaction allows us to immediately focus on addressing the rapidly growing opportunity in IoT and connected devices.”
Xenio’s mission will be to develop and deliver networked and software-driven solutions that bring intelligence to lighting fixtures, providing a powerful platform to deliver IoT services in the rapidly growing smart building space. Critical to this effort will be Xenio’s seamless integration of LED light source technology with advanced power, radio, sensor, application and cloud software into a low-cost, easy-to-install network.
These technologies will combine to enable high-quality lighting experiences such as deep dimming and color tuning while deploying the sensor network to reduce energy consumption, and drive real-time engagement with occupants or even goods inside a building. In a store, the Xenio network can draw attention to a displayed product by brightening a spotlight as shoppers walk down an aisle. Similarly, lighting can dim in employee cubicles when they are away or adjust in response to changes in natural lighting. It can also change color to create a more comfortable and productive environment.
“With a focus on providing a complete, intelligent technology solution for lighting and systems manufacturers, we believe we can deliver a revolutionary Smart-Lighting platform that will further enable the Internet of Things,” continued Bullington.