Oree says it has developed a differentiating technology that brings LED lighting to a new level of efficiency and practicality in terms of energy consumption and cost. Oree's solid-state light source is thin and flat - about the size and shape of a credit card - and is suited for general lighting applications, decorative and architectural lighting, as well as backlighting for LCD panels. Oree is currently working with selected customers in Asia and Europe, and will be in high-volume production by early next year.
As one of the world's leading chip suppliers, Epistar Corporation is dedicated to partnering with companies that have novel and promising technologies. Epistar has been manufacturing chips for Oree since 2007. Continued collaboration will strengthen market penetration in Asia, Europe and the US for both companies.
"Oree has introduced a game-changing LED technology and brought some great talent to the market," said BJ Lee, chairman of Epistar Corporation. "I am excited about our shared vision."
"By investing in Oree, Epistar has demonstrated confidence in the significant market potential of our technology," said Eran Fine, founder and CEO of Oree. "This funding will help us meet our high-volume production goals, as well as expand our global reach."
(Lee Baldock)
