By Bryan Menell August 14, 2007 Leave a Comment

AgiLight, a San Angelo-based developer of commercial LED lighting, announced the addition of Ron Wallace as VP of Sales and Marketing. Wallace is an industry veteran, and this move signals an increasing focus on taking AgiLight’s low-energy products to market. The company participated in the Austin Clean Energy Summit earlier in the year.

Active Power, a maker of flywheel-based power backup systems, announced a private placement of $14M in stock. Combined with a recently announced $5M debt facility, this creates some better liquidity for the company. Active Power has been narrowing their losses recently, trying to achieve breakeven before the cash from their 2000 IPO runs out. Earlier this month the company announced The Carbon Trust had listed their CleanSource UPS on it’s Energy Technology Product List.

About

Bryan is the Managing Editor for AustinStartup and the Director of the Collaboratory at Dachis Group. He is a co-founder of Capital Factory, on the board of Texchange, and runs the popular Austin Tech Happy Hour with his wife. He advises early stage technology companies including Socialware, SpeedMenu, and AudiencePoint.

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