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14 n e w h a v e n B I Z | O c t o b e r 2 0 2 2 | n e w h a v e n b i z . c o m By Matthew Broderick T he next several months promise to be busy for Q-Tran, says Jim Binch, co-CEO and chief operating officer of the Milford-based lighting manufacturer. e company, which produces linear LED lighting systems, plans to launch a new family of products in the fourth quarter, followed by additional product innovations in early 2023. "Revenue was up 25 percent last year," Binch said. "And we expect it'll be up between 35 and 40 percent this year." ose numbers reflect a growth trajectory that the company has been on since 2014, when it transitioned from being solely a power supply company for halogen lights to a manufacturer that has married its power systems to custom-built linear lighting for commercial and high-end residential clients. Linear lighting, as opposed to square or round lights, is LED technology packaged in a long, narrow housing that distributes light more evenly over an area. ey are oen used in venues like offices, restaurants, hotels, museums and retail stores. And with new government energy efficiency standards and shiing consumer demand for eco- friendly lighting, the market for LED solutions is bright. is past April, the Biden administration announced new efficiency standards for light bulbs that, according to the Department of Energy (DOE), will save consumers nearly $3 billion annually and reduce carbon dioxide emissions by 222 million metric tons over 30 years. Grant View Research market data projects the LED lighting market, valued at $55 billion in 2021, will grow annually by more than 10 percent between 2022 and 2030. Green investment Q-Tran's high efficacy LED light engines use 25% less energy than fluorescent tubes and have a lifetime that is three times longer, according to the company. Q-Tran's products also achieve more than 70,000 hours of light, says Gean Tremaine, company president, whose father founded the business in 1993. at duration of efficiency and functionality — both for internal and external lighting — is attractive to architects, landscape designers, interior designers and electrical engineers who Q-Tran sells to directly. Tremaine says the versatility of Q-Tran's linear lighting systems — from their ability to form different shapes, colors, dimming effects and more — have made the company's lighting designs popular for high-end projects. e company's lights have been used by e Smithsonian, Motion Picture Association and San Francisco International Airport. Each light is custom-made at the company's 55,000-square- foot facility in Milford, which includes 38,000 square feet for production and 17,000 square feet of administrative space. It's home to roughly 80% of the company's 100 employees. e company also has a small office in Compton, California. Binch says state funding (including $300,000 in direct and $650,000 in indirect support) helped Q-Tran invest in equipment to become the first company in the country to encapsulate LED lighting, an industry innovation that contributed to the firm's rapid growth. In July, the firm hosted Gov. Ned Lamont as part of an announcement by the state of a new ClimateTech (CT) Fund — made possible with federal dollars through the American Rescue Plan Act's State Small Business Credit Initiative — that will invest in supporting early-stage businesses with a focus on clean energy, environmentally- safe manufacturing and climate resiliency. e program's $100 million in funding will be administered by Connecticut Innovations (CI), the state's venture capital arm. "We are broad in our approach to the sector, but excited to see companies focused on energy, mobility, food tech, water and waste, as well as other categories," said Konstantine Drakonakis, venture partner for Connecticut Innovations' ClimateTech Fund. "We plan to invest in 15 to 20 companies over the life of the fund and we have close public and private partners in the state to help us identify and grow companies in Connecticut." Sustainability and eco-friendly innovations are Bright Outlook Demand for energy efficient, versatile lighting fuels Milford manufacturer Q-Tran's growth Light manufacturer Q-Tran's 55,000-square- foot Milford plant employs about 80% of the company's 100 employees. Gean Tremaine Jim Binch PHOTOS | CONTRIBUTED

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