SATELLITE BEACH, Fla., Oct. 27, 2011 /PRNewswire/ -- Leading the LED lighting revolution, Lighting Science Group (OTCBB: LSCG), the world's premier LED lighting manufacturer, announced today that it has received more than $100 million of LED lighting product orders this year—an increase of more than 100% as compared to the same time last year.
"Surpassing the $100 million order mark this year is not only a significant achievement for our company, but for the entire LED lighting industry," said Jim Haworth, chairman and chief executive officer of Lighting Science Group. "As a result of increasing consumer and business demand, we expect LED lighting sales to grow exponentially over the next couple of years."
Widely adopted across all sectors, Lighting Science Group's LED lighting products are brightening everything from the International Space Station to the Times Square Ball, the streets of major cities around the world, and now, businesses and individual homes. The Company not only earned the United States Environmental Protection Agency's first ENERGY STAR label, but maintains a leadership position in the number of ENERGY STAR qualified products. Lighting Science Group has a proven ability to out-innovate, out-grow and out-perform other actors on the lighting stage. Consistent with its holistic commitment to green operations, the Company makes every effort to ensure that its raw materials are sourced sustainably, resulting in products that, unlike Compact Fluorescent Lamps (CFLs), are toxic-free and completely recyclable.
Major lighting retailers; lighting companies; retail chains like Yankee Candle and GNC; cities like Salt Lake City, UT, Washington, D.C., and Lewiston, ME; military installations such as the Naval Base in Ventura County, CA; and world renowned architects and builders have all chosen Lighting Science Group to be their lighting technology provider. Why? Because the Company's LED products deliver substantial energy savings over traditional lighting options, and also offer unparalleled quality, performance and longevity.
"Lighting Science Group epitomizes the "green" American business success story. Only a year ago, the company had 100 employees, now we have 1000. As we look ahead to what's possible, rather than accept what is, we acknowledge—and appreciate—that the LED bulbs on the market today represent only a stepping stone on this journey towards a more sustainable energy future, not the final destination. We plan to continue to accelerate product innovation and drive down prices. For example, Lighting Science Group will offer a top-grade sub-$15 LED 60-watt bulb in the United States next year. At a price previously unheard of, this bulb will provide millions of people with unparalleled light quality while simultaneously garnering significant returns on investment," added Haworth.
For more information on Lighting Science Group's products, visit www.lsgc.com.
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 Goes, 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.
ENERGY STAR is a U.S. registered mark of the United States Environmental Protection Agency.
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 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 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