The firm geared its technology to the LCD screen market.
Oree Inc. has raised a $4 million venture loan from Silicon Valley Bank and Kreon Capital. The company will use the proceeds for manufacturing and to expand its business development activities. The company has raised $12 million to date.
Ramat Gan-based Oree has developed a flat, ultra thin, highly energy efficient LED lighting engine. The technology enables the transmission of LEDs into a uniform surface in an ultrathin structure, making the light bulb as thin and flat as a credit card. The technology reduces energy consumption and radiated heat of standard lighting solutions by 80%. The technology improves the amount of light extracted and significantly reduces the cost of the system.
Oree CEO Eran Fine and CTO Noam Meir co-founded the company in 2004. The company is targeting two of the largest growing markets: LCD displays and the professional lighting market, including office or retail spaces that desire thin and light-weight products that are discreet and cost effective.
Published by Globes [online], Israel business news - www.globes-online.com - on November 20, 2008
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