Question 1

What specific uses will this round of funding be used for? How much runway do you have prior to considering a series A? As performance increases and cost decreases in LED lights, what specific plan do you have to keep ahead of your competitors? Have you had any interest from l...

Accepted Answer

There are two main reasons for funding. The first is sales. As you can see in the charts above our "sample sale pipeline" is overflowing and we need to expand our sales staff to manage these customers. The second use of the funding is to expand our product portfolio to address additional crops and growing applications. We have ~18-24 month runway (not including any profit from sales). Our IP specifically leverages blue LEDs. Blue diodes are increasing in performance and decreasing in cost mor...

Question 2

When are you trying to close out this round?

Accepted Answer

During the month of October

Question 3

How do your prices compare to similar offerings from GE, Philips and Illumitex? How do you plan to compete with GE and Philips, who seem to be devoting substantial resources to this market?

Accepted Answer

Generally we are a slightly lower CapEx cost compared to Illumitex, Philips etc... Users of our lighting fixtures have a much lower OpEx because of increased energy efficiency. All of our competitors use individual monochromatic LEDs. We plan on competing with our wavelength conversion technology.

Question 4

Would it be possible to make a version suitable for true vertical farming applications (the plants grow horizontally) where the lights could be mounted in vertical or horizontal strips?

Accepted Answer

Yes, in fact we are already beta testing fixtures with vertical farming customers. We have designed and prototyped lighting systems for facilities that grow plants both horizontally and vertically.

Question 5

Hi Brian. Is it possible to see the patent portfolio that you currently have? I think the concept is good but what about competition from the big companies who are already vested in this market?

Accepted Answer

Hi Eileen, we have two patents under review with the USPTO, filed last summer. We also have a PCT filed for international coverage. We use a fantastic IP firm based here in NYC with extensive background in both lighting and international IP. Speaking to the quality of our IP, we just co-released a product with Gavita Holland, one of the Europe's and the World's most established horticultural lighting companies. Speaks loudly that one of the big companies wants to work with our technology and ...

Transcend Lighting

The world's most energy efficient grow light.

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Transcend Lighting

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$143,000

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