Lighting Science Group Becomes North America’s Largest Producer of LED Light Bulbs
SATELLITE BEACH, Fla., Jan. 24, 2012 /PRNewswire/ — Leading the LED lighting revolution, Lighting Science Group Corporation (OTCBB: LSCG), the world’s premier LED lighting manufacturer, announced today that it produced 4.5 million light bulbs in 2011–an increase of 450% when compared to 2010 numbers. The bulbs produced have a potential average annual electricity savings of approximately $43.6 million over comparable incandescent bulbs. Last year’s exponential growth catapults Lighting Science Group to the position of North America’s largest LED light bulb manufacturer.
“Last year’s accomplishment is this year’s momentum,” said Jim Haworth, chairman and chief executive officer of Lighting Science Group. “As we celebrate 2011′s achievements, we also look ahead to our anticipated opening of a state-of-the-art manufacturing facility in India, our plans to penetrate both the subcontinent’s and Asian markets, and to increased consumer and business adoption of LED solutions overall. We believe that by this time next year, the 4.5 million milestone will be placed in the context of an exponential growth trajectory, since this month alone I expect that we will make at least 500,000 bulbs.”
The Company’s suite of products have found applications ranging from use in NASA outer space ventures; to artistic designs that span skyscraper silhouettes; to everyday, practical implementations for American homes and businesses that save families and business owners significant amounts of money on electricity bills. On the global stage, Lighting Science Group has become synonymous with the ultra-efficient lighting revolution, and at home the company is most commonly viewed as the fulfillment of America’s clean technology promise.
Mirroring its growth in manufacturing capability, the Company has added 300 American jobs in a span of just two years, proving that the United States can lead clean technology development and manufacturing in the international arena while generating jobs at home. Yet, the Company makes every effort to ensure that its raw materials are sourced sustainably, aligning with its holistic commitment to green operations, resulting in top-quality products that–unlike Compact Fluorescent Lamps (CFLs)–are mercury-free and completely recyclable.
About Lighting Science Group
Lighting Science Group Corporation (OTCBB: LSCG) designs, develops, manufactures and markets LED lighting solutions that are environmentally friendlier and more energy efficient than traditional lighting products. Lighting Science Group offers retrofit LED lamps in form factors that match those of traditional lamps or bulbs and LED luminaires designed for a range of applications including public and private infrastructure for both indoor and outdoor use. Lighting Science Group’s Advanced Projects Group business unit designs, develops and manufactures custom LED lighting solutions for architectural and artistic projects. Lighting Science Group is headquartered in Satellite Beach, Florida; the Company’s European operations are based in Middelburg, The Netherlands; and the Company has a sales office in Sydney, Australia. Lighting Science Group employs approximately 1000 workers building lighting products from domestic and imported parts. Lighting Science Group is a Pegasus Capital Advisors portfolio company. More information about Lighting Science Group is available at www.lsgc.com.
Forward Looking Statement. Certain statements in this press release may constitute “forward-looking statements” made under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements concerning the performance of Lighting Science Group and its products and/or use terminology such as “anticipate,” “assume,” “believe,” “estimate,” “expect,” “goal,” “intend,” “plan,” “project,” “seek,” “target,” “soon,” “will,” “first of many” and variations of such words and similar expressions. Such statements reflect the current view of Lighting Science Group with respect to future events and are subject to certain risks, uncertainties and assumptions. Known and unknown risks, uncertainties and other factors could cause actual results to differ materially from those contemplated by these statements. In evaluating these statements, you should carefully review the risk factors detailed under “Risk Factors” in our most recent filings with the Securities and Exchange Commission that may cause our actual results to differ materially from these forward-looking statements.
SOURCE Lighting Science Group Corporation