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Lighting firm notches big sale

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  • | 4:37 p.m. December 5, 2012
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SARASOTA — Lighting system firm Evolucia, which has lost more than $40 million since 2009, recently closed a deal to outfit Bentley University, outside Boston, with its proprietary Aimed Optics cobra head light fixtures.

Terms weren't released for the sale, which included 171 110-watt Aimed Optics LEDs, or light emitting diodes. Officials at Bentley, in Waltham, Mass., say the Evolucia lights replace 250-watt Metal Halide fixtures that used to light the campus' upper and lower parking lots. The college, according to a release, expects to save more than 60% in total energy costs.

“Evolucia is proud to be a part of Bentley University's initiative to employ sustainable, energy-efficient technologies throughout their campus,” Evolucia CEO Mel Interiano says in the release. “This project demonstrates that LED lighting is an economically viable, environmentally beneficial, and a sustainable lighting alternative.”

The sale is also part of Evolucia's comeback strategy. The company, formerly Sunovia Energy Technologies, has gone through several iterations in business model and products in the last three years. During that time the publicly traded firm (symbol: ILED, recent price: 2 cents) also reported $41.1 million in cumulative annual losses. Interiano, its third CEO since August 2010, was appointed to the position in March. Read a 2011 story on the company here.



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