Former Chairman of Philips North America to Join Lighting Science Group Board of Directors

SATELLITE BEACH, Fla., May 7, 2012 /PRNewswire/ -- Lighting Science Group (OTCBB: LSCG), North America's largest LED bulb manufacturer, announced today that K.R. (Kaj) den Daas, a leading figure in the worldwide lighting industry, will be joining Company's board of directors.

"I believe that Kaj's wealth of industry knowledge and know-how will be vital as the Company continues to experience rapid growth and lead the global lighting technology sector," said Jim Haworth, chairman and chief executive officer of Lighting Science Group.

From 1977 to 2010, Mr. den Daas served in various capacities with Koninklijke Philips Electronics N.V., including:  from 2006 to 2009, as Chairman of Philips Lighting North America and CEO of BU Professional Luminaires North America; from 2003 to 2006, as COO of BG Lamps and Executive Vice-President of Philips Lighting B.V.; and from 1999 to 2003, as CEO of Philips' Business Unit – Lamps for Europe, the Middle East and Africa (2001-2003), and the Asia Pacific (1999-2001).  Since 2010, he has been the owner of Dasio Consulting, a Netherlands-based consulting firm which provides strategic advice to an array of electrical industry clients in North America and Europe, since 2010. 

"I am extremely proud and excited to join the board of this innovative company," said Kaj den Daas. "Working with Lighting Science Group's world-class management team and other board members we will continue to change the way the world uses and experiences light."

Mr. den Daas, since January 2011, has served as an Independent Member of the Boards of Directors of iWatt, a leader in Power IC's for a.o. lighting applications; LUXIM Corp., a world leader in plasma technology lighting solutions; GLO AB, a development-stage VC-backed company active in nano technology LED's; since May 2010, as an Independent Director of  NVC Lighting, the largest domestic lighting company in China, where he also serves as a member of the Audit Committee, Chair of the Remuneration Committee and Member of the Nomination Committee; and since October 2004, as an Independent Director of Valmont Industries Inc., the world leader in engineered support structures and services for infrastructure and water management for agriculture, where he also serves as Member of the Audit Committee and International Committee. 

Craig Cogut, founder and managing partner of Pegasus Capital Advisors, the majority shareholder in Lighting Science Group, added that, "We are honored to have Kaj as a new board member and I believe that it is an endorsement of the Company's very bright future."

Mr. den Daas holds a doctoral degree in Business Economics form Erasmus University, Rotterdam and completed coursework at Harvard Business School (Audit Committee Program, 2008), London Business School (Strategic Leadership Programme, 2006) and INSEAD (Advanced Management Programme, 1996). He is a member of the Illumination Engineering Society of North America and from 2008 to 2010 served as Governor of the National Electrical Manufacturers Association. Mr. den Daas is the recipient of the Stansilaw Staszic Medal from the Government of Pila, Poland.

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