IKEA GreenTech Invests in Scottish Company that Makes Light Tiles

IKEA GreenTech, an IKEA Group venture capital company, reported that it has
invested in Design LED Products Ltd, a Scottish company that has developed
unique, energy efficient “light tiles” . The thin and flexible
light tiles are LEDs embedded into clear resins and films. Design LED Products
boasts that the light tiles are low cost and can be seamlessly joined into
exciting new designs.

The investment will support the IKEA Group Sustainability Strategy, People
& Planet Positive, which aims to enable customers to save energy and live
more sustainably.

“This technology opens up fantastic possibilities for innovative
designs using energy efficient LEDs. The partnership is a clear strategic fit
for IKEA and our goal to make living sustainably affordable and attractive for
millions of people,”
said Christian Ehrenborg, Managing Director,
IKEA GreenTech AB

Luxeon High Power

IKEA plans to switch its entire lighting range to LED technology by
September 2015. The investment will enable Design LED to expand its business
and to increase its offer of products that can be used in lighting designs for
the home.

“This strategic investment allows Design LED to significantly
accelerate plans to deliver highly differentiated products to an international
market desperate to conserve energy, and hungry for exciting new form factors
in LED lighting,”
said Stuart Bain, CEO, Design LED Products Ltd

Existing Design LED Products shareholders also invested alongside IKEA
GreenTech, including most significantly Scottish Enterprise, via its investment
arm the Scottish Investment Bank. A number of Scottish “business
angel” investment groups also participated in this investment round,
including Strathtay Ventures, Tricap Ventures, and Highland Ventures.