MSi’s light-emitting diode (LED) lights provide both a lifetime cost and carbon emission saving to users when compared with the high-energy consumption halogen lights that are currently commonly used.
3M’s undisclosed funding builds upon the existing relationship between the two companies where, for the past year, 3M have been working with MSi on a line of LED lights for multiple applications.
Gabi Sabongi, vice-president of 3M Corporate Ventures, said: “3M’s Light Management platform enables the company to manipulate light in different ways, and we are committed to developing high-quality LED lights. Solid-state lighting technology has the potential to reduce US lighting energy usage by nearly one half and contribute significantly to the nation’s climate change solutions. MSI’s technology is a great fit with 3M and takes our business relationship to the next level in a way that complements both companies.”
According to a report by the US Department of Energy switching to LED lighting over the next two decades could save the US $250bn in energy costs over that same period.
MSi president John Burke said: “This investment allows us to further share ideas and innovations in LED. With 3M’s range of technologies and expertise in optical science, we are very excited about the future and new ways to serve customers.”