Vancouver, Canada, September 14, 2011 --(PR.com
)-- Concurrent with the closing of its largest financing to date, Light-Based Technologies Inc., a developer and manufacturer of innovative control and power electronic solutions for LED-based Solid-State Lighting, is pleased to announce the addition of three highly skilled executives to the senior management team. Bringing a wealth of combined experience, LBT is proud to welcome Art Aylesworth, Matthew Watson and Barry Hagglund to the company.
The new executive team members:
· Art Aylesworth, CEO – Award-winning executive who has held senior management positions in the technology industry for more than 25 years, most notably as CEO of the SSL company, Carmanah Technologies, where he built the team from 12 to 250 people and grew sales to over $60 million in 5 years.
· Matthew Watson, COO – An experienced technology company executive with a track record of success leading early-stage companies through market adoption and commercialization. His successes include Carmanah Technologies and ACD Systems where he led the operational transformations from start-up to world leader.
· Barry Hagglund, CTO – A 27-year product development, engineering, and operations management veteran with the likes of PMC-Sierra, Fujitsu, and Nortel with a track record of consistently delivering strategic technology as the backbone of new, emerging, and established businesses.
The above mentioned financing represents the recently closed majority of the funding announced last fall (financing led by Chrysalix Energy Venture Capital and VantagePoint Capital Partners). This funding provides LBT the financial resources it needs to commercialize its LED-related technologies, products and intellectual property as the company releases its first products into the market in the coming weeks.
Jeanette Jackson, LBT’s founding CEO, will transition to Chief Marketing Officer for the company, focusing on strategic customer relationships and industry association participation. “As a founder of LBT, and on behalf of the entire team, I’m incredibly excited we’ve been able to attract such relevant and experienced talent to fill out our executive team,” said Jeanette Jackson. “I’m also appreciative of the continued support from both Chrysalix and Vantage Point and look forward to great success ahead.”
Other notable changes include the appointment of Richard Mackellar as Chairman of the Board; and Tom Foxall, who had been serving as LBT’s CTO since 2009, taking on the role of Chief Scientist. Peter van der Gracht, who had been serving as Chairman, remains involved with the board.
“I’m confident the strengths and experience of this new management team will guide LBT through the incredible growth opportunities in Solid-State Lighting. The industry is undergoing rapid development and LBT is poised to take advantage of this by revolutionizing SSL electronics,” said Richard MacKellar, Managing Director at Chrysalix and newly-appointed Chairman of LBT’s Board.
About Light-Based Technologies (LBT)
Based in Vancouver, Canada, and with a development office in Torrance, California, Light-Based Technologies (LBT) is focused on the research and development of power and control solutions for Solid-State Lighting (SSL) that accelerate market adoption. LBT’s approach allows it to maximize simplicity while adding value through increased functionality and extended reliability. LBT ‘s unsurpassed combination of expertise in semi-conductor design, power electronics, SSL technical knowledge and lighting market understanding allows its firmware based platform to deliver Better Light.
LBT is making its technology available to the market through its line of LED drivers and proprietary ICs. For more information on the company, please visit www.lightbased.com.