The Copenhagen-based tech startup Nordic Power Converters managed to create a new and innovative power converter. They hope that this innovation will revolutionize the way we use the technology in the future. With an investment of $2M and a significant product order from one of the large Danish LED lighting companies, they confidently move in to the market of LED lighting, share in company’s press release.
Nordic Power Converters solve long standing problems for LED lighting
The technology was originally created by current CEO Mickey Madsen and five of his fellow students at the Technical University of Denmark (DTU). The result of their efforts is a power converter five times smaller as well as cheaper than the traditional models, with two to five times the lifespan. With these advances, Nordic Power Converters pushes forward a technology, that has remained stagnant for more than thirty years.
While focusing on developing as a company and gaining success in the smaller markets, the team expects to expand from LED lighting, into a broader commercial implementation of the technology. LED lighting can showcase the technology and gives a foundation for the startup to grow. The technology can, however, be applied to laptop chargers and power supplies in both screens and entertainment equipment.
With an initial order of 50,000 premium power converters, Nordic Power Converters has established a partnership with the Danish LED lighting company HaSaLight, who have had an eye on the innovative startup for about a year. COO at HaSaLight Martin Nielsen is ambitious about the future of the partnership:
“With premium LED drivers from Nordic Power Converters, HaSaLight will provide LED lighting products that significantly lower the cost of ownership for our customers… Furthermore, the reduced form factor of the LED driver will enable new attractive designs of our LED products.”
The technological innovation attracts prominent investors
Since the beginning Nordic Power Converters has been focusing on attracting experienced commercial forces. They have recently managed get an investment of $2M (1.8M euro) from SEED Capital and ten prominent business angels.
The ten private investors include experienced business figures, such as the previous CTO of Giga Eivind Johansen, US cleantech investor Greg Morgan, and Jørgen Bardenfleth, who has previously held leading positions at Hewlett-Packard, Intel and Microsoft Denmark. He is currently occupying a number of board positions in prominent Scandinavian IT firms and is a known innovation and technology enthusiast.
Bardenfleth views the new technology as a potential game-changer for power converters. The team’s talent and ambition, as well as the technology’s innovative potential, are the reasons why he has chosen to invest approximately $150000 in the startup. Nordic Power Converters’ character as a hardware developer in a software dominated startup-environment, has additionally contributed to Bardenfleth’s interest in the venture.
The startup now faces the challenge of attracting talented people, that will be able to expand the capabilities of the team. This will be essential if the startup succeeds in moving into the broader market of power suppliers.