Business News | Jan 24, 2007

Lighting science group announces private label agreement with Philips Solid State

DALLAS–Lighting Science Group Corporation (LSG) (OTCBB: LSGP), a leading provider of energy-efficient and environmentally responsible LED lighting solutions announced today that it signed a private label agreement with Solid State Lighting, N.A., a business unit of Philips Lighting Company, a division of Philips Electronics North America Corporation, whereby Philips will private label the Company’s patented LED lowbay lighting products for global sales and distribution under Philips’ brand.

Concurrent with this agreement, Philips placed an initial order for lowbay lights totaling US$358,000, which are expected to be delivered in the first and second quarters of 2007.

This is the second private label agreement announced by LSG in the past 30 days. The previously announced strategic OEM relationship with Super Vision International, Inc. (NASDAQ Capital Market: SUPVA) included an initial order for LSG’s suite of LED lighting products to be sold under Super Vision’s new SaVi™LED brand.

“Annual sales of lighting products in the United States are estimated to be $12 billion and are predominantly based on a 130-year-old technology. I firmly believe that LEDs are the future of commercial, residential and industrial lighting, providing cost-effective, long lasting and environmentally friendly lighting solutions,” said Ron Lusk, chairman and chief executive officer of Lighting Science Group. “We believe that this relationship with Philips, one of the largest lighting manufacturers in the world, further validates LSG’s market leading technology and the growing adoption of LED products. Additionally, LSG has seen steady growth in the sale of its products as we introduce new products into the market.”

As previously announced, LSG realized revenue of approximately $125,000 in the third quarter 2006. LSG estimates its fourth quarter 2006 revenue to be approximately $175,000. Thus far in January 2007, the company estimates that it has recorded revenue from shipments and has currently unfilled purchase orders for an aggregate of approximately $525,000, including the initial purchase order placed by Philips. In addition to the lowbay product, LSG is the first company to market a high-output, dimmable, Edison-base white-LED light bulb. The company currently has 25 patents in the LED lighting space and a product portfolio comprised of 30 different SKUs. Lasting up to 50 times longer than incandescent light bulbs, LED bulbs typically pay for themselves in less than two years and do not contain the hazardous materials such as mercury that is commonly found in fluorescent and compact fluorescent products.

Lowbay lighting fixtures are typically used in parking garages, and industrial and commercial settings, and installed at ceiling heights of [16] feet or less. The lights provide optimal luminosity over designated areas, which the Company believes create a safer, more productive work environment.

About Lighting Science Group Corporation
Lighting Science Group Corporation (www.lsgc.com) designs and sells highly energy efficient and environmentally friendly lighting solutions based on its proprietary Optimized Digital Lighting(TM) (ODL®) technology. The Company's patented and patent-pending designs and manufacturing processes enable affordable, efficient and long lasting LED based lighting systems to be quickly deployed in existing lighting applications and produce immediate cost savings and environmental benefits. Products include lowbay fixtures for parking garages and industrial facilities, MR-16, R30, R25, R20, R16 (elevator light), G11, G25, S6, candelabra and flame tip bulbs which can be purchased at http://store.lsgc.com.

Add comment

You can add a comment by filling out the form below. Plain text formatting. Comments are moderated.

Question: What is 1 + 5 ?
Your answer:
FEATURED

Nichia UV LED Technology Supports Evolving Markets

Nichia UV LED Technology Supports Evolving Markets Nichia, a leading global specialist in LED technology, is now aiming to extend its dominance to the UV market following its impressive showcase at the recent RadTech 2020 conference and exhibition in Orlando, Florida, USA. The company's latest solutions remain ideal for curing applications, but an ... Read more »

FEATURED

TLCI + CRI 90-95 LEDs for Broadcast Illumination

TLCI + CRI 90-95 LEDs for Broadcast Illumination Optimize sports lighting for broadcast videography with the best possible illumination for eyes and cameras. Cree XLamp XP-L2 and XHP50.2 LEDs provide a natural "daylight" experience to indoor & night events while reducing the lighting intensity and manual color correction needed for excellent ... Read more »

EDITORIAL

Ecosense Enters Replacement LED Lamp Business by Buying Soraa Shares

Ecosense Enters Replacement LED Lamp Business by Buying Soraa Shares Ecosense®, a leading LED technology company, announced today that it has acquired assets from Soraa, a designer and manufacturer of full-spectrum LED lamps based in Fremont, California. Under the terms of the deal, Ecosense acquires the Soraa name, intellectual property and lamps, including the ... Read more »

EDITORIAL

WEBINAR (May 14th): How to Achieve Better Products to the Eye Through Virtual Prototyping?

WEBINAR (May 14th): How to Achieve Better Products to the Eye Through Virtual Prototyping? In the CADFEM webinar on May, 14, 2020 you will learn, how physics-based simulations - virtual prototyping - contribute to develop better lighting products. The live presentation pictures the whole process - from editing the geometric model to the definition of light sources and sensors to the use ... Read more »