Richard Branson's Virgin Fuel and Gemini invest in efficient lighting
It was announced today that Gemini invested in Metrolight.
The company develops electronic ballasts for HID (High intensity discharge) lighting systems. These are basically the igniting engines behind high power light bulbs, the type you find in stadiums, roads, shopping centers, etc.
Richard Branson's Virgin Fuels joined Gemini in our investment:
"Inefficient lighting is one of the largest sources of energy waste," said Sir Richard Branson. “Through Virgin Fuels, we invest in companies such as Metrolight that help reduce greenhouse gas emissions and substantially improve energy efficiency around the world.”
Its amazing to note that high intensity lighting applications currently consume approximately 5-6% of the world’s electricity. Therefore, smart lighting solutions such as Metrolight's can save over 50% of this energy - up to 3% of the world's energy consumption - Without the need to compromise the quality or reduce the usage of light!
I had the chance to work closely with the company over the last several months and believe we have a great team and product. Moreover, its really great to invest in a company that I believe will not only do good for itself and its investors, but also do good for the environment...
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