Acuity, Renaissance in LED partnership

Atlanta-based Acuity Brands (NYSE: AYI), a lighting and cleaning products company, said today that it's entered into a strategic partnership with Herndon, Va.'s Renaissance Lighting to work on the commercialization of LED lighting.

Under the deal, Renaissance is licensing its intellectual property, including its Constructive Occlusion optical system, to Acuity. Financial terms of the partnership were not disclosed.

"Partnering with Renaissance Lighting gives Acuity Brands Lighting the ability to continue to build our rapidly-growing LED portfolio and develop innovative new products through the use of advanced, patented technology," said Vernon Nagel, chairman, president and CEO of Acuity Brands, in a statement.

Acuity said the companies have agreed to collaborate on research and development and other projects supporting the improvement and advancement of LED technologies for consumer, architectural, commercial, institutional and general illumination applications.

"As one of the largest and most-respected lighting companies in the world, Acuity Brands Lighting has the resources to help us accelerate the delivery to market of breakthrough LED technology," said Renaissance CEO Barry Weinbaum.

Renaissance, a privately-held developer of solid-state LED architectural lighting, is backed by the Altira Group, Crowley Technologies, NGEN Partners, RockPort Capital Partners, and Sumitomo.

In April, Renaissance signed a strategic marketing deal with Great Falls, Va.-based Stellatek Solutions and Network Communication E.T. in the United Arab Emirates to bring its LEDs to projects in the UAE and Qatar.

At the time, Renaissance said the level of commercial development underway in the UAE and Qatar was at an historic level, with over 22,000 hotel rooms set to open in Dubai this year alone.