Chinese-based LED maker SunSun Lighting Holdings Asia Ltd. is said to receive $10 million from the Beijing-based venture capital investor GSR Ventures to commercialize its energy-efficient products.
In February, the company has developed a 9-watt LED bulb to replace standard, 60-watt incandescent bulbs. Currently, it is building a manufacturing plant that will be able to produce 30 million LED bulbs a year. And its manufacturing facility in Changzhou produces more than 10 million bulbs a year.
Sonny Wu, GSR’s founder and a managing director, said in the statement, “There is huge market potential for solid-state lighting. If traditional lighting could be replaced by LED technology, it would be a $300 billion market globally in a few years.”
