Power-saving light bulb producer Nanoleaf, in which Li Ka-shing’s private equity firm Horizons Ventures owns a stake, has no listing plans for now, the Apple Daily reported Tuesday, citing Gimmy Zhu, one of Nanoleaf’s founders.
Zhu did not disclose the details of Horizons Ventures’ investment, but said the funding was enough for the company to start large-scale production of LED light bulbs, the paper said.
Horizons Ventures has given the Nanoleaf team a big room to develop the product, without setting demands or earnings targets, he said, adding that the Hong Kong tycoon believes the technology is a game changer.
A 12-watt Nanoleaf bulb is said to have the brightness of a 100-watt incandescent bulb and can last 30,000 hours of continuous use.
The company, started by three engineers, is planning to launch a better version of LED product, featuring adjustable light intensity, in two months. It is also considering lowering the product’s selling price, from US$35 per unit at present.
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