Cork lighting firm gets €9m after funding round

Nualight Ltd, an LED lighting company based in Cork, has received €9.1m in funding following its latest investment round.

The funding was led by Climate Change Capital Private Equity (“CPE”), a €200m fund dedicated to investments in clean technology companies..

CPE subscribed for €3.75m of ordinary and preference shares in a €4.1m round alongside existing shareholders and committed a further €5m jointly with existing investor ESB novusmodus, the renewable energy investment fund of ESB.

Other investors include 4th Level Ventures, an early stage technology fund and existing shareholder.

Nualight’s LED light fixtures are used for illuminating display cases in international food and high-end retail chains. Supermarket customers include Tesco plc, Switzerland’s Migros and Co-op chains and Rewe in Germany.

LED lighting allows retailers to achieve energy savings of up to 60%, both from lighting and refrigeration energy.