Posted by Tate Dwinnell |
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12:00:44 pm on February 3, 2010
At
a recent rally in New Hampshire, Barack Obama specifically mentioned
LED lighting and described a company that could help to slash the cost
of LED lighting. I did a little research and discovered the company he
was referring to is privately held Arc Energy
LLC of Nashua, NH. Its founder, Kedar Gupta is no stranger to
cleantech success, having founded GT Solar (SOLR) with just $1000 and
cashing out a few years ago.
“That is why jobs will be our number one focus in 2010. And
we’re going to start where most new jobs do – with small businesses.
These are the companies that begin in basements and garages when an
entrepreneur takes a chance on his dream, or a worker decides it’s time
she became her own boss. They’re companies like ARC Energy, which I
visited earlier today. These folks are hard at work on a new
manufacturing process for ultra-efficient LED lights that will make
them affordable for ordinary people. The technology they’ve created is
the only of its kind in the world. They’re this little business in a
condo out on Amherst Street, and they have the potential to
revolutionize an industry. Right here in Nashua.
Small businesses like ARC Energy have created roughly 65
percent of all new jobs over the past decade and a half. And I think we
should make it easier for them to open their doors, expand their
operations, and hire more workers. That’s why I’ve proposed a new tax
credit for more than one million small businesses that hire new workers
or raise wages – and a tax incentive for all businesses to invest in
new plants and equipment. And while we’re at it, we should eliminate
all capital gains taxes on small business investment, so these folks
can get the capital they need to grow and create jobs.”
I had to do some digging to locate ARC Energy’s web site
and eventually had to call them to find it. Considering both the
products and news pages say “we are in stealth mode”, it’s clear the
company wants to operate under the radar for now.. but the visit by
Obama has certainly put them on the map now!
According to the about page, ARC Energy LLC (or Advanced
Renewable Energy Company) was founded in 2007 to develop automated
sapphire crystal growth and processing equipment to significantly
reduce the cost to manufacture LED lighting. The company was initially
funded by its founder Kedar Gupta, but is now receiving funding from
venture capital firm General Catalyst and Citizens Bank.
While GreenStocksCentral.com focuses on publicly traded green
companies, it will be interesting to follow the progression of ARC
Energy and perhaps one day I’ll be writing about their IPO.
