Mid Market Company of the Week: Bridgelux
Livermore, Calif.-based Bridgelux occupies industry space that would be the envy of any CEO. Bridgelux creates solid state lighting (SSL) solutions to meet the growing demand for light emitting diode (LED) systems. There is tremendous demand for replacing aging technologies such as such as incandescent, halogen, fluorescent and high intensity discharge lighting with solid state lighting. Industry reports forecast that the LED lighting market is anticipated to grow 45% per year through 2019. In dollar terms, the LED market is a $4.8 billion industry expected to grow to $42 billion by 2019.
Bridgelux is the first company to make LED lighting an innovation category, seeing the industry as $100-billion opportunity. Innovation starts with CEO Brad Bullington’s analysis of Bridgelux itself, which he calls as a “chip” company with a lighting component instead of lighting company with a “chip” component.
The chip component of LED lighting allows for a more conventional look and feel of interior and exterior lighting, while providing a 60% plus cost saving over traditional technologies. Maintaining a technological edge requires continuous R & D. In this vein, Bridgelux has developed proprietary technology in GaN (gallium nitride) LED chips and has partnered with Toshiba for future manufacturing, research and development.
Focusing on chip development has allowed Bridgelux’s revenue stream to grow at an annual compound rate just north of 50%. Bullington, however, remains driven to continuously create the products supporting global clean energy demands. The CEO is pressing on two fronts that he sees as continued success on two fronts. The first is technological prowess in the design and development of solid state lighting. The second is avoiding the pitfalls associated with growth. By understanding the incremental steps of growth, Bullington sees an environment where Bridgelux benefits from continuous technological innovation and proactive corporate management.
Source: LEDs Magazine / Bridgelux introduces more compact COB LEDs for retrofit lamps / October 2, 2013 – http://ledsmagazine.com/news/10/9/20
CEO – Bridgelux
Size: 300 Employees
Location: Livermore, CA
Goal: A corporate culture which encourages associates to create, problem solve and share
Fact: Bridgelux has more than 550 patent applications filed or granted worldwide
Unique: Outside of Bridgelux, Bullington’s passion is a Washington state vineyard called Forum Cellars. For Bullington, being a vintner is the perfect left brain / right brain combination of soil, climate, dollars and cents.