ThinkLite
What it does: Manufactures energy efficient lighting
Founders: Dinesh Wadhwani, 21, and Enrico Palmerino, 22 (pictured left to right )
Website: rethinkrelite.com
Based: Framingham, Mass.
Revenue 2010: $500,000
Revenue 2011 (projected): $3.5 million
Babson College dorm mates Dinesh Wadhwani and Enrico Palmerino got the idea for their company from an ad for an energy efficient light bulb: They thought they could sell businesses on going green by putting the bottom-line savings up front, rather than the environmental benefit. ThinkLite, founded in 2009, manufactures custom energy-saving light systems. Clients typically pay ThinkLite about 40 percent of the estimated two- to three-year savings. ThinkLite licenses its technologies from private laboratories in Germany, uses components from Korea, designs them in Boston, and assembles them in China. After ThinkLite installs the lighting system, the client’s lighting bill drops on average by 50 percent to 80 percent, Wadhwani says. The company has about 100 clients, including AT&T (T), Kodak (EK), and Babson College, as well as smaller businesses ranging from restaurants to offices. —Venessa Wong
Founders: Dinesh Wadhwani, 21, and Enrico Palmerino, 22 (pictured left to right )
Website: rethinkrelite.com
Based: Framingham, Mass.
Revenue 2010: $500,000
Revenue 2011 (projected): $3.5 million
Babson College dorm mates Dinesh Wadhwani and Enrico Palmerino got the idea for their company from an ad for an energy efficient light bulb: They thought they could sell businesses on going green by putting the bottom-line savings up front, rather than the environmental benefit. ThinkLite, founded in 2009, manufactures custom energy-saving light systems. Clients typically pay ThinkLite about 40 percent of the estimated two- to three-year savings. ThinkLite licenses its technologies from private laboratories in Germany, uses components from Korea, designs them in Boston, and assembles them in China. After ThinkLite installs the lighting system, the client’s lighting bill drops on average by 50 percent to 80 percent, Wadhwani says. The company has about 100 clients, including AT&T (T), Kodak (EK), and Babson College, as well as smaller businesses ranging from restaurants to offices. —Venessa Wong
