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Print Edition StoriesTuesday, May 19, 2009
Braemar backs electronic ballast supplier Fulham with $10M
By Mass High Tech staff
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Braemar Energy Ventures, a venture capital firm with offices in Boston, has invested $10 million in Fulham Inc., an electronic ballast supplier for LED lights and fluorescent, high-intensity lights. As part of the backing deal, Braemar representatives, currently unnamed, will join the Fulham board of directors.
The investment, Fulham officials said in a press release, will be used to support the company’s global sales growth and long-range plans for implementing energy-efficient lighting. The company develops and sells induction light components for alternative fluorescent lighting, as well as ballasts for indoor and outdoor use.
Braemar, which makes early- to mid-stage investments in energy companies, maintains an investment portfolio of such energy-efficient lighting firms as Laser Light Engines, Nuventix and Luminus Devices. The firm, which was founded in 2002 and has another office in New York, has invested in more than 50 companies, including two in Massachusetts: EnerNoc Inc., a Boston firm that manages backup electric generators for peak demand periods, and Celunol Corp., a Cambridge company that develops technology for producing ethanol. In 2007 the firm closed a $250 million energy technology fund.
Last month, Braemar announced that it had participated in the latest funding for Austin, Texas, cooling systems company Nuventix Inc. -- an $8 million tranche, closing the company’s Series C round, of which Braemar contributed $3 million.
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