LED Roadway Raises $9.5M in Equity
LED Roadway Lighting Ltd., a Halifax-based manufacturer of LED-based street lighting and wireless controls, announced today it has raised $9.5 million in equity funding, most of which has come from Founder and CEO Chuck Cartmill.
The company said $1 million of this investment comes from the conversion of debentures held by Nova Scotia Business Inc. into equity.
Cartmill said the investment will be used for working capital and the financing of inventory and for a reorganization of the company’s manufacturing facility in Amherst, N.S. But much of the call with reporters focused on his