US funding coup for Energy Mad

Kiwi energy-efficient bulb manufacturer Energy Mad has sewn up $1 million in funding in the US, and cutting retail prices on its products there as a result.

Kiwi energy-efficient bulb manufacturer Energy Mad has sewn up $1 million in funding in the US, and cutting retail prices on its products there as a result.

According to Fairfax, the funding was sourced from utility companies; Energy Mad managing director Chris Mardon said there was approximately a quarter of a billion dollars available from electricity utility providers for efficient lightbulb projects.

Last year Energy Mad launched its range into Walgreens, and continues to focus on increasing sales in the US and Australasia.