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Energy Mad dished out $220k to develop new bulb

Energy Mad dished out $220k to develop new bulb
Energy-efficient lightbulb company Energy Mad has been dealt $220,000 in government funding to develop a new downlight.

Energy-efficient lightbulb company Energy Mad has been dealt $220,000 in government funding to develop a new downlight.

The company said the Ministry of Science and Innovation funding will be used to design an ‘Ecobulb’ downlight to replace less efficient halogen and incandescent bulbs.

The bulb will use 20 percent of the electricity of conventional bulbs, be cheaper and last longer than competing products.

Energy Mad raised $5 million in an initial public offering in October.