Abstract:
Swedish nanotechnology company to transition to pilot production phase for ground-breaking semiconductor nanowire LEDs for general illumination.
GLO AB closes SEK 82M series B investment round
Sweden | Posted on September 3rd, 2009
Lund (Sweden) based nanowire semiconductor LED developer GLO AB today announced the closing of an SEK 82 million Series B investment round (approximately USD 11.6 million).
Dr. Bo Pedersen, GLO's chief executive officer, said, 'We are delighted to welcome as new investors both Hafslund Venture AS, a wholly owned subsidiary of Hafslund ASA, and Agder Energi Venture AS, a unit of Agder Energi AS.' Both Hafslund and Agder are major power generation companies in the Nordic region, and both have substantial, successful investment track-records with a renewable energy focus. Hafslund Venture, for example, made its first investment in Renewable Energy Corporation in 1998, and is today the second largest shareholder in a company that has become one of the leading PV Solar companies in the world.
Current investors joining in the round in GLO include funds advised by venture capital firms Provider Venture Partners of Stockholm, Teknoinvest and
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