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."
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