After working with the company for the past year on a line of LED lights for multiple applications, 3M has invested in Boca Raton-based MSi Lighting.
“3M’s Light Management platform enables the company to manipulate light in different ways, and we are committed to developing high-quality LED lights,” said Gabi Sabongi, VP 3M Corporate Ventures. “Solid-state lighting technology has the potential to reduce U.S. lighting energy usage by nearly one half and contribute significantly to the nation's climate change solutions. MSI’s technology is a great fit with 3M and takes our business relationship to the next level in a way that complements both companies.”
“The relationship between MSi and 3M is already strong,” added MSi president John Burke. “This investment allows us to further share ideas and innovations in LED. With 3M’s range of technologies and expertise in optical science, we are very excited about the future and new ways to serve customers.”
The specific terms of the transaction were not disclosed.