Taiwanese $15 M. Investment Shines Light on Israeli LED Start Up Oree

Will Edison’s invention be relegated to ancient history as LED goes mainstream?

Before the light bulb, invented by Thomas Edison in 1879, the nights were saturated in darkness and human activity limited to what could be achieved by candlelight. Now if the lights go out because of a power surge, we’re up in arms, raging at utility companies for their incompetence. And electricity’s environmental toll is immeasurable. Cleaner alternatives, such as LED, have been slow on the uptake, but  the recent $15 million investment by the Taiwanese LED chip producer Epistar in the Israeli start up Oree could be a sign that LED technology will secure a place for Edison’s then-revolutionary technology in ancient-history. 

“Oree has developed a differentiating technology that brings LED lighting to a new level of efficiency and practicality in terms of energy consumption and cost. Oree’s solid-state light source is thin and flat – about the size and shape of a credit card – and is ideally-suited for general lighting applications, decorative and architectural lighting, as well as backlighting for LCD panels,” according to a statement from the company.

Old Knowledge Modern Trend

While the technology behind the LED has been around since the 1960s, 2010 is expected to be the year that it will become mainstream.

Oree hopes the investment by Epistar, which have been manufacturing chips for Oree since 2007, will help the company penetrate important and growing markets such as the United States, Europe and Asia for both companies.

“By investing in Oree, Epistar has demonstrated confidence in the significant market potential of our technology,” said Eran Fine, founder and CEO of Oree. “This funding will help us meet our high-volume production goals, as well as expand our global reach.”

Small Source Big Light

Oree’s main product is the Oree LightCell that emits uniform color and brightness from its lighting surface making it a very and efficient light source.

The technology developed by Oree combines the light from individual LED cards redirecting their radiation through a flat light guide for an efficient and uniform planar-emitting pattern, which makes the light both energy efficient and easy and inexpensive to install.

According to Oree, there is a range of areas where their technology can be used from general lighting at homes or offices, ambient and mood lightning in homes, shops and wellness environments, TV back lightning, and under cabinet lightning at shops, kitchens and offices.

In addition to the deal with Epistar, Oree has raised $16 million from Genesis Partners and GIMV, as well as obtaining loans from Silicon Valley Bank and Kreos Capital, according to Globes.

Image via rubberdreamfeet and story via Globes

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One thought on “Taiwanese $15 M. Investment Shines Light on Israeli LED Start Up Oree”

  1. David Fessler says:

    If you’re writing an article all about LED lighting, at least get a picture of one. The “cute” photo at the beginning of the article is of a CFL bulb, not an LED. They contain harmful amounts of mercury, something your writer failed to even mention.

    In general, I would say your writers need to do more thorough research.

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