Vancouver's Light-Based Technologies Runs out of Cash, Shutters

Posted by Techvibes NewsDesk

Light-Based Technologies its permanently closing its doors.

The Vancouver-based company ran out of cash and could not secure a buyer or an investor, forcing it to shutter.

Light-Based Technologies launched in 2004 and made electronic controls for LED lights. CEO Art Aylesworth, who at his previous venture was named Entrepreneur of the Year, was unable to keep the company afloat after taking over the helm from founder Jeanette Jackson.

Milk Volker, who invested in the company, called the move a "disappointment." Volker said that, when he invested $390,000 through GreenAngel Energy Corp, he thought Light was on its way to a big exit. "Everything was looking good until quite recently," he told BCBusiness.

 

Company:
Light-Based Technologies
Website:
http://www.lightbasedtechnologies.com
Location:
Vancouver, British Columbia, Canada

Light-Based Technologies delivers revolutionary analog technologies and full engineering support for the power and control of solid state lighting products. Our solutions are more efficient and put less strain on natural resources from the materials required to manufacture components to the power to operate final products. This also happens to reduce your costs as an added benefit. Light-Based Technologies offers... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property. Originally founded in 2002, Techvibes is dedicated to covering social, mobile, and startup news that impacts Canadians. Our editors and nationwide network of reporters combine breaking hyperlocal news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and... more



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