Wednesday, September 24, 2008

Luminus appoints new CFO Ellen Richstone

By Mass High Tech Staff

Billerica-based light-emitting diode maker Luminus Devices Inc. has appointed Ellen Richstone to the executive vice president and chief financial officer post. Richstone’s responsibilities cover the company’s global finance, human resources, administrative, legal and IT operations.

Prior to joining Luminus, Richstone worked as CFO of Sonus Networks; president and CEO of Entrepreneurial Resources Group; and CFO and senior vice president, finance and administration, of Brooks Automation. She has also held management roles at Augat Inc., Rohr Aerospace and Data General.

Richstone is a member of the board of directors, as well, for Blue Shift Technologies and Entrepreneurial Resources Group.

Privately held Luminus Devices announced the closing of its $72 million fifth round of financing in March, bringing the company’s total raised to nearly $140 million since its photonic lattice technology was spun out of MIT in 2002. The Series E funding was provided by lead investor Braemar Energy Ventures of Boston, as well as Stata Venture Partners of Westwood, Battery Ventures of Waltham, CMEA Ventures of California and Paladin Capital Group in Washington D.C.

Traditionally focused on bringing its Phlatlight light-emitting diode (LED) technology to high-end flat panel televisions and displays, the new funding is expected to help the company penetrate new applications, from commercial and consumer lighting to specialty applications in the medical, entertainment and homeland security industries, according to company officials.