Enfis, the manufacturer of a new wave of LEDs, has raised £4.5m after floating on AIM.
Enfis, rainbow in Welsh, spun-out from the University of Swansea in 2001 and was originally backed by Sir Terry Matthews of venture capital group Wesley Clover.
Its LEDs, which can emit any colour, are believed to be more powerful, durable, versatile and energy efficient than any competing lighting product currently available.
The picture above shows Paternoster Square in London, which was lit by Enfis’ devices powered by a mere 240 volt socket.
The solid state lighting market, to which Enfis belongs, is estimated to be worth in the region of £11bn and the company believes that its low energy product could be well-placed to capture a significant stake in it.
The company hit the market on March 23 releasing over 8.9m shares at an initial price of 140 pence each giving it a market capitalisation of £12.5m.
Shaun Oxenham, chief executive of Enfis, said: “These funds give us the financial strength to make most of the opportunities that we have identified since the Electronica trade fair in November, when we first unveiled our light engines and were inundated by expressions of interest and orders, and to deliver our longer term business plans.
“The technology we have developed, with its increased power, efficiency and versatility, makes our light engines attractive to a wide range of customers.
“We are now well placed to secure an increased share of the growing SSL market, as well as increase our capacity, sales force and product development capability.”
© Crimson Business Ltd. 2007
