COMPANY TO DRIVE INDUSTRY-CHANGING PARADIGM IN ILLUMINATION BACKED BY
PROVEN LEADERSHIP, $12 MILLION IN NEW FUNDS, AND AN ACCELERATED PATH TO PROFITABILITY
Vancouver, B.C. (Tuesday, June 27, 2017) – Cooledge Lighting Inc. today announced the appointment of William J. Sims as CEO, underscoring its opportunity to drive the most significant advancement in illumination since LEDs were first embraced nearly two decades ago. A board member since 2015, Sims served as interim CEO for the past year, during which time the company nearly tripled its project pipeline and expanded its sales presence in Europe, the Middle East and Asia. His acceptance of the role on a permanent basis positions Cooledge for rapid growth, fueled by proprietary technology that fuses digital light with architecture in wide-ranging retrofit and new construction projects.
Building on this momentum, the company has already closed $12 million from existing and private investors towards a target of $17 million in its latest round. The funds will fuel additional expansion of global sales and support, marketing programs, and product development – cementing the company’s category ownership and accelerating its timeline to profitability.
“Having led and advised companies in this sector for over 15 years, I can say with confidence that Cooledge is a stand-out, both in terms of the luminous surfaces we make possible today and the opportunity we have to make them ubiquitous – blurring the lines between lighting and architecture,” said Sims. “We are answering the unmet demand for fully-integrated luminous ceilings and walls, which exploit the advantages of LEDs far beyond mere replacement bulbs and fixtures. We will change the very way illumination is delivered, controlled and experienced, and I’m excited to guide the company to realize this full potential.”
Sims is well known as the former President and CEO of Color Kinetics, the company largely credited as the pioneer of intelligent LED lighting. In his seven-year tenure he guided the company to profitability and oversaw its successful IPO, secondary offering and eventual sale to Philips for nearly $800 million. He has more than 30 years’ experience growing both emerging and established companies, including the successful launch of industry-first technologies in both the consumer and business-to-business space.
“We could not have found a better leader than Bill to chart the course for Cooledge, and we’re looking forward to the company’s next chapter under his guidance,” said Clint Bybee, Chairman of the board of directors. “He is a visionary with a special knack for identifying breakthrough technologies and successfully bringing them to market, and his enthusiasm for Cooledge is validation of the company that we’ve built to date.”
Today Cooledge is the go-to brand for enabling luminous surfaces, with expertise derived from thousands of installations completed worldwide. Its market-leading systems, TILE and LINE, have ultra-thin, flexible forms that can be cut and shaped to fit curved architecture and paired with diffusion materials; including fabric, acrylic, resin and translucent stone; to create luminous surfaces. Over the last 12 months, the company has expanded its product range with exterior-grade and tunable white options, and plans to unveil a next-generation platform with significantly enhanced control capabilities as early as next year. These offerings, coupled with the delivery of immersive illumination via surfaces, will elevate the role of light in the built environment.
ABOUT COOLEDGE LIGHTING
Cooledge is the global leader in luminous surface offerings. The company provides a portfolio of proprietary lighting technologies that can be seamlessly integrated into all forms and scale of the built environment enabling large architectural surfaces instead of light points for illumination. The company’s luminous surface capabilities are deployed in retail, office, hospitality, and themed venues for both new and retrofit building applications. Cooledge is headquartered in Vancouver, Canada, and supported by a network of sales agencies and partners throughout North America, Europe, the Middle East and Asia. For more information, visit www.cooledgelighting.com or follow us on Twitter @CooledgeLtg.