Lemnis Lighting starts China joint venture (San Francisco)
LED bulb maker Lemnis Lighting Inc. agreed to start a joint venture in China.
The San Francisco startup, which raised $37.5 million earlier this year, makes a $40 LED lightbulb that produces about the same amount of light as a 40 or 60 watt incandescent bulb while consuming far less energy.
Lemnis' LED bulbs use light emitting diodes, which produce colored light when electric current runs through them. They’re used in many popular products like flashing bicycle tail lights and in the red and green lights in traffic signals.
Lemnis will set up a joint venture with Tsinghua Tongfang Co., a Beijing information and energy business. The joint venture will work on LED lighting for use both indoors and outdoors.
Tsinghua is connected to Tsinghua University.
Read the full story in the San Francisco Business Times.
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