Leading Middle Eastern capital advisory firm believes innovative U.S. lighting technology can benefit UAE and surrounding region DUBAI, UAE – Emirates International Capital Advisory (EICA) in Dubai recently affirmed its corporate mission to support innovation and identify technologies that will benefit the Middle East through the acquisition of an equity position in U.S. lighting technology company PureSpectrum, Inc.
PureSpectrum is an emerging global leader in the development of dependable and cost effective energy efficient lighting products. The company has begun manufacturing a product line of fully dimmable Compact Fluorescent Lamps in preparation for a mid-year launch and has begun preparations to initiate manufacturing dimmable ballasts for linear fluorescent bulbs.
EICA Senior Managing Director Arash Masom said his firm’s capital investment in PureSpectrum is in line with EICA’s belief in supporting innovative technology solutions that will address the reduction of energy consumption. Dubai’s electrical grid has incurred a steadily increased burden as a result of the massive population boom in the area during the past decade, and Masom said PureSpectrum’s dimmable lighting technologies will be instrumental in reducing carbon footprints and energy consumption for residential and commercial properties.
As a result of the relationship with EICA, PureSpectrum confirmed that it has received a request for proposal from a large semi-governmental entity in Dubai that is planning a multimillion dollar retrofitting project to be completed by the end of the year. PureSpectrum attended the Middle East Electricity Exhibition and Conferences in Dubai in February and will return in March to present a cost analysis for energy savings available to commercial properties through the use of the company’s dimmable lighting products.
“We consider PureSpectrum’s advances in lighting to be a disruptive technology which could truly alter the landscape of lighting in Dubai, the United Arab Emirates, the Middle East and beyond,” Masom said. “In addition to an infusion of capital to support further technology developments, we will ensure that the region realizes the full potential of the benefits offered by this technology by directing PureSpectrum’s leadership to government and private sector representatives who are searching for energy reduction strategies. This issue will continue to gain priority for this region, and EICA will continue to support the introduction of more energy efficient technology. The ability of Pure Spectrum technology to be incorporated immediately and provide immediate relief to the grid making this technology unsurpassed in using existing infastructure."
EICA is a leading Middle Eastern financial advisory and management firm with a demonstrated interest in investing in small cap technology companies developing energy efficient, next generation products to market. EICA’s core investment areas are the Middle East, North Africa and Latin America, and the company actively searches for investment opportunities with technology ventures such as PureSpectrum that are developing energy efficient products and technologies which address environmental concerns with real solutions through innovation.