21 December 2011
LED maker Bridgelux closes in on 100% revenue growth in 2011
LED chip and lighting array maker Bridgelux Inc of Livermore, CA, USA (which claims to be the only vertically integrated maker of LED solid-state light sources specifically for the lighting industry) reckons that market conditions and its recent achievements have positioned it for additional growth in 2012. The firm's revenue grew as much as 792% from fiscal 2006 to 2010, and additional 100% year-on-year growth is expected by the end of 2011. The firm adds that, in the past year, it raised $76m in additional funding, added several noteworthy customers, introduced innovative products and technology, and received numerous industry awards.
The LED luminaire market is poised for dramatic expansion, with analysts predicting compound annual growth rate (CAGR) of 40% through 2015 (according to IMS Research's report 'The World Market for Lamps & Luminaires in General & Exterior Lighting' released in July). Recognizing its potential, prominent financial and strategic investors have invested $76m in Bridgelux in the past year.
“We’re seeing significant increases in adoption and demand for LED lighting in many sectors and regions,” says CEO Bill Watkins. “In fact, we’ve experienced a 300% unit volume growth in LED array sales in the past year alone, dramatically increasing our market share while also delivering well over 100 million high-power LED chips to enable new and innovative product designs,” he adds. “Going forward, Bridgelux is extremely well positioned to meet rising demand: we're well funded, have some of the industry’s most innovative technologies and product designs, and have established strong strategic partnerships.”
Retail and hospitality are among the most promising near-term sectors for the LED lighting market, with a forecasted CAGR (from 2010 to 2015) of 59% for retail and 54% for hospitality, reckons IMS. Geographically speaking, Europe in particular has great market potential, with analysts estimating a CAGR of 101% (from 2009 to 2015). Bridgelux recently expanded its customer base in all of these sectors, adding to both its hospitality and retail customer base with installations at The Sheraton Hotel at D-Cube City in Seoul, Intersport Austria in Klagenfurt, the Dior fragrance booth at the ‘Galeries Lafayette’ in Paris, Coop Adriatica stores in Italy, and more than 40 Manor department store locations throughout Europe (with several more installations scheduled for first-quarter 2012).
In August, Bridgelux extended its performance and manufacturability of GaN LEDs on silicon substrates when it broke its previous industry record for lumen per Watt luminous efficacy for gallium nitride on silicon (GaN-on-Si).