SATELLITE BEACH, Fla., April 27, 2011 /PRNewswire/ -- Lighting Science Group (OTCBB: LSCG) – a leader in the ultra-efficient LED lighting revolution – has partnered with Shanghai Automotive Industrial Corporation USA, Inc. to bring its high performance, low cost LED infrastructure lights to Eastern China. Compared with traditional high pressure sodium (HPS) lights, Lighting Science Group's street, parking, and under canopy lighting solutions are at least 50% more efficient and are two to five times longer lasting, providing the potential to save millions of dollars over the bulbs' lifetimes in energy and maintenance costs.
"We chose Lighting Science Group as a partner because they offer the most advanced and affordable LED lighting products in the world," said Mr. Chen, President of Shanghai Automotive Industrial Corporation USA, Inc., the U.S. division of one of China's largest industrial companies and the franchisee for General Motors in China. "Their lighting solutions deliver the best light distribution, excellent color, optimum performance, and are ultra-efficient in meeting our country's energy, environmental and design needs."
"With rising energy costs across world, cities are looking for ways to save energy – Lighting Science Group's LED products are a perfect solution," said Rich Weinberg, chairman and chief executive officer of Lighting Science Group. "Our LED infrastructure products will both protect the environment and improve a city's bottom line by delivering at least a 50% energy savings over traditional lights while simultaneously offering years of dependable, maintenance-free operation. With their significant manufacturing and distribution presence and commercial success with industrial products, Shanghai Automotive Industrial Corporation USA is the ideal partner to help us bring these products to the Chinese market."
Shanghai Automotive Industrial Corporation USA will serve as Lighting Science Group's exclusive agent for LED infrastructure products beginning in the Shanghai, Jiangsu, Zhejiang and Anhui provinces. Demonstrating their mutual resolve to reduce their carbon footprints by eliminating greenhouse gases (GHGs) emitted during shipping and transport, the two companies are exploring the possibility of contracting eligible factories in the aforementioned locations to both manufacture and assemble Lighting Science Group's LED infrastructure products destined for Chinese consumption.
Added Mr. Weinberg: "We live in a truly globalized world, and with that arises the opportunity to forge partnerships unimaginable only a few short years ago. The partnership between Shanghai Automotive Industrial Corporation USA and Lighting Science Group proves the potential of companies today to create business ties benefitting not only city economies, but also international relations and the environmental health of our shared planet."
For more information on Lighting Science Group LED products, please visit www.lsgc.com.
About Shanghai Automotive Industrial Corporation USA, Inc.
SAIC-USA is the North America branch of Shanghai Automotive Industry Corporation (Group), one of the Fortune Global 500 company with $18 billion revenue in 2007. As one of the top 3 automotive corporations in China, Shanghai Automotive Industry Corporation (Group) ("SAIC" for short) is mainly engaged in manufacturing, sales, research and development, and investment in passenger cars, commercial vehicles and components, as well as related services trade and financial business. Besides direct operations in auto components, service and trade businesses, SAIC injected its vehicle business into Shanghai Auto (Holdings) Co., Ltd. ("SAC" for short) in Oct. 2006 where it holds 83.83% of the equity. SAC is one of the biggest automotive companies on domestic A-share market. SAIC's core values: S-Satisfaction from customer, A-Advantage through innovation, I-Internationalization in operating, C-Concentration on people. With opportunities emerging from the rapid growth of Chinese market, SAIC is devoted to becoming a corporation of industrial investment and business operation that integrates advanced manufacturing and modern service businesses.
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 the form factor of traditional lamps or bulbs and LED luminaires for a range of applications including public and private infrastructure for both indoor and outdoor applications. 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 Goes, The Netherlands; and, the Company has a sales office in Sydney, Australia. Lighting Science Group employs approximately 600 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 LSG and its products, including its A19 omnidirectional LED bulb, and/or statements using terminology such as "anticipate," "assume," "believe," "estimate," "expect," "goal," "intend," "plan," "project," "seek," "target" and variations of such words and similar expressions. Such statements reflect the current view of LSG 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