Announcement Date: May 3, 2014
Lumencache Receives TechPoint Mira Awards’ Tech Innovation of the Year Award
McCordsville, Indiana-based energy innovator, LumenCache, received the Tech Innovation of the Year Award for its LibRE line of high efficiency lighting and power distribution technology during the 15th annual TechPoint Mira Awards honoring the best of tech in Indiana. The technology replaces the last 1000 feet of the old 110 Volt AC power distribution in buildings with a new standard that is more appropriate to the power needs and digital capabilities of today’s LED lights.
LumenCache says its LibRE line is ideal for new smart construction of homes, offices, schools, restaurants, labs and virtually anywhere requiring high-efficiency lighting with dimming control and the benefit of smart sensors for automation. The total installed cost is typically within 10 percent of an old-style 110V AC dimmed LED lighting package, but LumenCache systems offer even more cost effective pricing in quantities above 85 lights.
The Mira Awards judges were drawn to the fact that LumenCache is “doing good” — like its projects that are having a positive impact on rural life in Mexico where there is less AC infrastructure — in addition to doing very well as a technology innovator. LumenCache has proven that its innovations have the potential to improve the lives of billions of people by bringing affordable and sustainable power distribution to undeveloped and underdeveloped communities around the world.
The judges believe LumenCache is fundamentally improving power delivery for an infrastructure that hasn’t changed much since the days of Thomas Edison. The potential to impact every home or business and a broad array of electronics devices is tremendous, making them safer, more efficient and more cost effective.
Beyond the theoretical, LumenCache has received one U.S. patent with another pending, and the company’s speed-to-market with their innovations secured significant revenue wins in 2013 with an additional four- to five-times greater revenue bookings for 2015.
TechPoint, Indiana’s technology growth initiative, honored LumenCache and 14 other Indiana-based companies, entrepreneurs and educators for their technology excellence and innovation on May 3, at the Mira Awards gala presented by BKD CPAs & Advisors. Mira — Latin for miracle and a variable star thousands of times brighter than the Earth’s sun — represents the best of tech in Indiana each year.
Forty-eight independent, volunteer judges spent more than 700 collective hours reviewing the applications, interviewing the nominees and choosing the 15 winners. Judges were primarily subject matter experts and experienced company executives.