SEATTLE—Nitze-Stagen Capital Partners (NSCP), a Seattle-based investment platform focused on emerging sustainable products has closed on early stage financing to launch NEXT Lighting Corp.'s expansion in the Pacific Northwest.

Founded in 2009 in San Francisco, NEXT Lighting is focused on new solid-state LED lighting technology that is up to 50% more efficient and lasts three times as long as standard fluorescent lights. NEXT Lighting holds several patents on its unique indirect linear architecture that provides a glare-free light with no pixilation.  It's the only LED product in the marketplace to provide this technology for linear lighting.

NEXT Lighting also offers its own line of cost-effective lighting controls and power supplies that serve as a platform for applications such as daylight harvesting which enables systems to dim lighting in response to changing natural light conditions and intelligent demand response for lighting.

“Lighting system upgrades and retrofits are an excellent means of reducing electricity demand in commercial and retail facilities,” said Randall Sosnick, president and CEO of NEXT Lighting.  “Most people don't realize that fluorescent tubes consume approximately ten percent of the world's electricity. We founded NEXT Lighting to develop an environmentally-friendly alternative to mercury-laden fluorescent tubes.  We took a fresh, clean-sheet look at how best to use the latest LED technology to replace those 8 billion tubes that account for almost half of the lighting in the world. Imagine the world-wide energy savings by just replacing those tubes! And reduced energy costs are not the only benefit.”

“Nitze-Stagen Capital Partners' strategy is to invest in companies focused on commercial and residential building products that significantly improve the sustainability, livability and workability of the built environment – and to create local jobs - and NEXT does all this and more,” said Peter Nitze, president of Nitze-Stagen Capital Partners.  “Their products have a proven track record of significantly outperforming the standard fluorescent tube lighting found in commercial and industrial buildings,” continued Nitze, “and we were impressed with the company's clear vision, innovative technology, high-quality products, and scalable platform. Our investment in NEXT Lighting is focused on bringing this energy saving technology to Seattle while applying our real estate and property management depth to help grow the company.”  

“In addition, in contrast to virtually all of its competitors, NEXT Lighting is a strong proponent of manufacturing its lamps in the United States – a founding principle of the company which matches Nitze-Stagen Capital Partners mission to create local jobs focused on new innovation,” remarked Nitze.

“We realize we are bucking the trend of shipping U.S. manufacturing work overseas, but we continue to believe in American innovation, technology and a local workforce,” added Sosnick.

NEXT Lighting is already working with several Seattle companies to bring LED lighting to their offices, distribution centers, data centers, parking garages and stores. Seattle residents may have seen NEXTLamps at the new RapidRide bus stations.

“We are excited to bring NEXT Lighting to our clients for many reasons,” said Mary Maas, with PNW Lighting Services. “We work with a wide range of clients in all industries and I had never been able to offer one lamp that solved all the issues with LED lighting. Aside from the significant energy savings, the lamp is engineered to have softer, more natural light which is superior for office, commercial, nursing homes – any user who works or lives under a row of lighting fixtures.  With their unique patented design the lamps won't get as hot as other LED lights, which extends their life and is ideal for data centers, warehouses and manufacturing.  The ability to adjust the wattage setting provides the flexibility to configure spaces based upon individual needs rather than forcing one-size fits all solutions. I have been working in the lighting industry for many years and NEXT Lighting is going to revolutionize the LED lamp for companies concerned with quality of light for their employees and keeping maintenance costs to a bare minimum.”

NEXT Lighting has also selected Cashmere Molding in Woodinville as their manufacturing partner.  “We selected Cashmere Moldings based on their track record of manufacturing high-quality products in high volumes at cost-competitive prices. They operate a full-service, leading edge manufacturing facility that has produced such products as Sonicare toothbrushes and Clarisonic skin cleansing products,” said Sosnick.

“When we met with NEXT Lighting and Nitze-Stagen Capital Partners, it was a natural fit,” said Greg Herlin of Cashmere Moldings.  “We pride ourselves on using state-of-the-art technology through our own use of innovation and cloud-based operations. Not only does NEXT Lighting share our goals of designing green, sustainable products, but NSCP believes in local job creation.  We all share the same vision - it's a great win for our local economy to be manufacturing the first solid-state LED lighting in the region.”

“Nitze-Stagen Capital Partners' sister companies; Nitze-Stagen & Co. and Daniels Real Estate have been committed to sustainable development and neighborhood revitalization in Seattle for decades,” concluded Nitze. “Now we are partnering to bring companies here whose products and services will take sustainable development to a whole new level. It's another platform for community investment.”

“Seattle is a hot-bed for innovation,” said Sosnick. “It doesn't surprise me that it is home to one of the few early-stage venture capital firms in the nation solely focused on proprietary products and services that improve the sustainability of the built environment. ”