In light of the bright outlook of LED industry, Taiwan's Formosa Plastics Group (FPG) and Yulon Group, have recently financed Trend Lighting Corp, a LED lighting maker on the island, according to Taiwan Economic News.

The two groups have each acquired 10% stake in Trend Lighting. FPG and Yulon have plowed capital into the company through LED affiliates Nan Ya Photonic Inc. and Precision Silicon Corp., respectively.

Trend Lighting was founded in March 2008, and is currently capitalized at NT$280 million(US$8.4 million at US$1:NT$33). It has been awarded a NT$45 million (US$1.3 million) contract with Taichung County Government to supply around 2,000 LED streetlights.

Taiwan’s Bureau of Energy estimated the global LED lighting market to reach over US$500 million in 2009. The ministry’s Industrial Technology Research Institute projected the market to grow to US$980 million next year, roughly representing 1% of global lighting market, according to the article.