Oversol Oy / Lumi Group Oy Raises First Part of 2-4 M€ Financing

After 3 year development work Oversol Oy launched revolutionary LED based street light, LUMI R, in February 2010. Simultaneously it formed a spin-off company Lumi Group Oy for marketing and further development of LUMI R series (pat.pending). By the end of April first part of the 2-4 million euro financing round was finalized. Replicon was the exclusive financial adviser of the company in the financing.


LUMI R street light consumes over 40 % less energy than equivalent traditional product. At the same time the quality of the light is improved notably. Combined with the light control system up to 85 % energy savings can be achieved.


First LUMI R light was optimized into 10 meter poles. With the new financing LUMI R series will be expanded into 6, 8 and 12 meter poles.


During next 5 – 10 years the market for replacements in street lighting is expected to grow very rapidly due to new energy savings and environmental regulations in EU and else where in OECD countries. LED technology is both energy saving and environmentally friendly.


For further information on LUMI R sales, please contact:
+358 44 572 0063

Replicon facilitated the financing process inter alia by

1) Consulting in preparation of the marketing material
2) Informing some 100-200 active investors and business angels
3) Planning and finalizing the term sheet for the Financing Arrangement
4) Organizing the DD process and required materials
5) Consulting and finalizing new Shareholders’ Agreement for Oversol Oy and Lumi Group Oy.

Further details of this + 1 million euro financing round will be kept confidential. Lumi Group and Replicon Group have agreed to continue their collaboration in financial advisory and business development.

For further information on Replicon services, please contact:
+358 9 677 464

Petteri Hirvonen,
CEO, Replicon Group +358 50 552 96 33 (direct)

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About Replicon

Replicon Group is an independent corporate finance, consulting and asset management advisory house for growth companies and growth investors. Replicon provides strategic and financial solutions that facilitate business activities, efficiency, and increase profitability of corporations and other organizations. Our core competence is in the corporate solutions that facilitate and govern growth of businesses based on innovation. An important part of our activities is continuous learning. We want to find and develop most suitable solutions to our customer needs. Replicon Group’s special focus areas are Cleantech, Life-Science and ICT/Mobile sectors. In these sectors Replicon provides also asset management advisory. The main shareholders in Replicon Group are its key management, holding majority of the company’s shares. Replicon’s homepage is www.replicon.fi.