MANHASSET, N.Y. General Electric Company (GE) and Nichia Corp. have formed a strategic alliance to support GELcore LLC, a Cleveland-based LED joint venture between GE and Emcore Corp.
GE also purchased Emcore's 49 percent interest in the joint venture for $100 million, demonstrating its ongoing commitment to invest in LED technology and the future of lighting.
The agreement between GE and Nichia combines GELcore's LED system strengths in the transportation, signage, specialty illumination, and general Illumination segments with Nichia's extensive phosphor and optoelectronics products, including LEDs. Both companies expect to leverage each other's expertise and penetrate the high-growth LED general illumination segment.
"GE and Nichia's combined excellence creates a preeminent alliance that is ideally suited to support GELcore's efforts to accelerate the growth and penetration of LED-based lighting solutions in the $12 billion global lighting segment," said Michael Petras Jr., vice president, Electrical Distribution & Lighting for General Electric.