Bridgelux appoints CEO, raises $50 million

MANHASSET, NY — Bridgelux, a provider of technologies to the solid-state lighting industry, has appointed William D. Watkins chief executive officer and a member of the board of directors.

Brideglux's Mark Swoboda, its current CEO, will become president and lead product development, R&D initiatives and sales and marketing efforts.

Watkins joins Bridgelux after 13 years at Seagate Technology, where he most recently chief executive officer. He holds a Bachelor of Science degree in Political Science from the University of Texas.

The company also announced that it has successfully raised an additional $50 million Series D financing, led by VantagePoint Venture Partners.

"We view solid-state lighting as an advanced technology capable of rapidly transforming the $100 billion lighting industry by offering a more cost-effective, efficient and environmentally sensitive lighting solution, and Bridgelux is uniquely positioned to drive its adoption," said Alan E. Salzman, CEO of VantagePoint Venture Partners, the company's largest investor.

Recently, Bridgelux rolled out an LED array product line for use in solid-state lighting.