Cree settles patent suit with LED co. Bridgelux
Efficient lighting company Cree has settled its patent infringement lawsuit with Sunnyvale, Calif. LED maker Bridgelux after two years of litigation. Not only must Bridgelux pay to license the technology from Cree — technology that increases the efficiency of LED lighting systems — but it also signed an agreement to make Cree one of its major suppliers.
The suit encompassed six different patents concerning LEDs (long-lasting lighting systems that cut energy use up to 85 percent relative to a regular incandescent bulb). This type of lighting is currently a hot topic, holding the potential to replace costly and wasteful fluorescent systems in commercial spaces and even street lights.
Bridgelux has raised $63.5 million to date from Chrysalix Energy Venture Capital, DCM, El Dorado Ventures, VantagePoint Venture Partners and VentureTech Alliance. It says it’s gearing up for a fifth round of funding with a target between $25 million and $40 million, reports VentureWire.
See past coverage of Bridgelux and the suit here.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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