PRESS RELEASE
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Lighting Science Group and Tech Lighting to Create and
Market New Line of LED Lighting Solutions
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NEW YORK
and CHICAGO, March 20, 2008 /PRNewswire-FirstCall/ --
Lighting Science Group Corporation (BULLETIN BOARD: LSCG)
, a global leader in energy efficient light-emitting
diode (LED) lighting solutions, entered into a
development and marketing agreement with Tech Lighting,
a Generation Brands Company, to launch a full line of
LED-based lighting products.
Lighting Science Group will integrate its patented LED
technology into Tech Lighting's light fixtures for both
residential and commercial use. Equipped with Lighting
Science Group's LED technology, the energy used by the
Tech Lighting fixtures will be significantly reduced
over traditional sources. For example, a 35-watt bulb
will be replaced by a mere 6-watt LED module with
equivalent light output. The LED fixtures will operate
for as long as 25,000 hours -- or up to 10 years -- in
normal residential usage and pay for themselves within
two years.
"Lighting Science approached Tech Lighting to develop a
LED product line because we knew it was a prime
opportunity to partner with a lighting industry leader,"
said Govi Rao, CEO of Lighting Science Group. "Tech
Lighting's innovative high-quality product portfolio is
an ideal platform for us to launch a new line of
breakthrough LED products. From both an environmental
and performance perspective, LED based solutions provide
a superior alternative to traditional incandescent and
halogen lighting systems."
LED light sources surpass both compact fluorescent and
incandescent variations in energy efficiency, life span
and environmental impact. LEDs consume up to 80 percent
less energy than traditional incandescent sources and as
much as 50 percent less energy than compact fluorescent
bulbs. This efficiency translates into a significant
reduction in energy costs for the end user. LED based
lighting solutions lower our carbon footprint relative
to traditional light sources like incandescent and
fluorescents, as they do not contain hazardous materials
like Mercury and have a higher recyclable content.
Steve Harriott, president of Encompass Lighting Group,
said, "Prior to this agreement, Tech Lighting offered a
full range of lighting options for commercial,
residential and industrial applications, but had yet to
offer a suite of LED solutions. We have spent the past
four years researching the progress of LEDs and its
potential to integrate into our product mix. As a result
of that research we can now move forward, confident that
our entry into LEDs will effectively meet the high
standards of our customers. We partnered with Lighting
Science Group because we felt they could lead us to an
LED lighting system that meets our stringent
requirements -- its truly LED without compromise."
The Tech Lighting line of LED lighting solutions powered
by Lighting Science will be first displayed at the Light
and Build Show in Frankfurt, Germany (April 6-8, 2008
stand J80 in Hall 4.2), and formally launched in North
America at Lightfair International (May 28-30, 2008
booth #937). Products will be sold through the extensive
Tech Lighting network of lighting reps and electrical
wholesalers.
About Tech Lighting:
Tech Lighting is a brand of Encompass Lighting Group,
providing products that embody expert craftsmanship,
precision engineering and attention to the smallest
detail. Since 1988, the brands of Encompass Lighting
Group (Tech Lighting, 2thousand degrees, T~trak,
ELEMENT, Wilmette Lighting Company, tiella, and LBL
Lighting) have been the premier choice of architects,
lighting designers, interior designers and homeowners
who seek the best in architectural lighting systems.
Headquartered outside of Chicago, Encompass Lighting
Group is known for combining precision design and high
quality materials to create beautiful, functional
lighting. Its products can be found in lighting
retailers and through sales representatives across North
America. Encompass Lighting Group is a division of
Generation Brands. For more information, please visit
our websites: www.techlighting.com and
www.encompasslighting.com.
About Lighting Science
Lighting Science Group Corporation (www.lsgc.com)
designs and sells highly energy efficient and
environmentally friendly lighting solutions. The
Company's patented and patent-pending designs in power
management, thermal management, manufacturing processes
and other areas seek to reduce energy consumption while
delivering environmental benefits and cost savings to
the end-user. The company designs and manufactures ready
to use LED lamps and luminaires as well as provides
customized lighting solutions for architectural and
artistic projects worldwide. Lighting Science has
offices in New York City, Sacramento, Satellite Beach,
FL, Dallas, Tokyo and the United Kingdom.
LED Holdings, a portfolio company of Pegasus Capital
Advisors (www.pcalp.com) holds a majority of the issued
and outstanding shares of Common Stock of Lighting
Science Group Corporation. Pegasus Capital Advisors is a
private equity fund manager with offices in New York,
New York and Cos Cob, Connecticut. Founded in 1995,
Pegasus provides capital to middle market companies
across a wide range of industries, with particular focus
on businesses that make a meaningful contribution to
society by positively affecting the environment,
contributing to sustainability and enabling healthy
living.
Certain statements in the press release constitute
"forward-looking statements" relating to Lighting
Science Group Corporation within the meaning of the
Private Securities Litigation Reform Act of 1995. All
statements regarding future events, our business
strategy and our financing plans are forward-looking
statements. In some cases you can identify
forward-looking statements by terminology such as "may,"
"will," "would," "should," "could," "expect," "intend,"
"plan," "anticipate," "believe," "estimate," "predict,"
"potential" or "continue," the negative of such terms or
other comparable terminology. These statements are only
predictions. Known and unknown risks, uncertainties and
other factors could cause actual results to differ
materially from those contemplated by the statements. In
evaluating these statements, you should specifically
consider various factors that may cause our actual
results to differ materially from any forward-looking
statements. "Lighting Science," is registered in the
U.S. Patent and Trademark Office. Readers should
carefully review the risk factors described above and in
other documents filed by the Company with the SEC.
Readers are specifically directed to the discussion
under "Risk Factors" in the Company's Registration
Statements on Form SB-2.
Source: Lighting Science Group Corporation
CONTACT: Sean Lavin of Encompass Lighting Group,
+1-847-410-4400,
slavin@encompasslighting.com, for Tech Lighting;
Lewis Goldberg of KCSA
Worldwide, +1-212-896-1216,
lgoldberg@kcsa.com,
for Lighting Science
Web site:
http://www.lsgc.com/
http://www.techlighting.com/
http://www.encompasslighting.com/
http://www.pcalp.com/
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