GE to Buy LED-Lighting Fixture Maker Albeo Technologies
News from Bloomberg:

General Electric Co. (GE)’s lighting unit has agreed to buy closely held Albeo Technologies Inc., a maker of energy efficient light-emitting diode fixtures.

GE Lighting will acquire Boulder, Colorado-based Albeo to add its fixture portfolio and enhance its offerings to its commercial customers, the East Cleveland, Ohio-based unit said today in a statement. Financial terms weren’t disclosed.

Customers want GE-quality LED systems in “as many areas as possible” because “the energy and maintenance savings opportunities are huge,” said Jeff Bisberg, chief executive officer of Albeo in an e-mailed response to questions.

Albeo will better serve customers “moving aggressively toward an all-LED building envelope in new construction and retrofits, including retail, commercial and industrial high-bay applications,” GE Lighting Chief Executive Officer Maryrose Sylvester said in the statement.

The company raised about $ 12.8 million over the last five years from investors Green Spark Ventures LLC, Braemer Energy Ventures and Silicon Valley Bank, Bisberg said.

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Related News:

Decorating debate: Are LED Christmas lights worth extra cost?
News from Orlando Sentinel:

By Kevin Spear, Orlando Sentinel

9:26 p.m. EST, November 23, 2012

Time-lapse photo this week shows traffic zip past downtown Orlando’s Christmas Star, which hangs amid 4,500 LED lights. (Stephen M. Dowell, Orlando Sentinel / Nov 23, 2012)

Take an evening drive through downtown Orlando and you’ll encounter elm trees bejeweled with hundreds of cascading points of light.

Their digitally precise pulsing reveals that they are LEDs. And suspended over Orange Avenue at Central Boule…………… continues on Orlando Sentinel

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