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Innovation & Job News

$25 million investment will help Oakville energy conservation company Fifth Light hire 86

Fifth Light, an Oakville-based company that helps companies conserve energy by automatically dimming lights, will invest $25 million to advance its technology over the next five years, an investment that is expected to create 86 new jobs.

The company's innovative "dimmable ballast for fluorescent light bulbs" automatically dims indoor lighting depending on the amount of exterior light available. The company says its technology helps businesses with fluorescent lighting conserve energy, generate revenue, increase productivity and reduce waste.

"This investment gives us a heightened ability to deliver on upcoming contracts using a groundbreaking system we wholeheartedly believe in," says Dr. Joseph Dableh, CEO and president of Fifth Light Technology. His comments came after last month's announcement by the provincial government that the Ministry of Economic Development would provide a grant of $3.75 million to the company as part of the $25 million total investment.

Author: Edward Keenan
Sources: Dr. Joseph Dableh, CEO and president, Fifth Light Technology; Leigh-Ann Popek, Minister of Economic Development and Trade's Office

Got an Innovation & Job News tip? Email edward@yongestreetmedia.ca.

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