SATELLITE BEACH, Fla., Dec. 9, 2011 /PRNewswire/ -- Lighting Science Group (OTCBB: LSCG), one of the world's leading LED lighting manufacturers, announced today that its new low cost World Bulb' -- an omnidirectional 60-watt equivalent A19 LED bulb -- has been selected as a 2012 International CES Innovations Design and Engineering Award Honoree. The Consumer Electronics Association's (CEA)®International CES Innovations Awards recognize outstanding design and engineering advancements across 32 consumer electronics product groupings -- Lighting Science Group's product was honored in the Eco-Design & Sustainable Technologies category. The World Bulb is planned for launch in early 2012 in India and will be rolled out to other countries throughout the remainder of the year.
"It's an honor to be recognized by CES as among the elite in consumer electronics, which further testifies to the superior quality and performance of our LED products," said Jim Haworth, chairman and chief executive officer of Lighting Science Group. "The World Bulb gives off a clean, bright light equivalent to that of a conventional 60-watt incandescent bulb, but while using 85% less electricity. Plus, the bulb provides a 35% lower total cost of ownership as compared with CFLs. True to its name, I expect that our award winning low cost A19 LED World Bulb will quickly become one of the best selling lighting products around the globe."
The prestigious Innovations Design and Engineering Awards are sponsored by the CEA, the producer of the International CES, the world's largest consumer technology tradeshow, and have been recognizing achievements in product design and engineering since 1976. Lighting Science Group's World Bulb will be displayed at the 2012 International CES, which runs January 10-13, 2012 in Las Vegas, Nevada. The company's bulb will also be displayed at CES Unveiled: the Official Press Event of the International CES from 4-7 p.m. on Sunday, January 8 in the Venetian Ballroom of the Venetian.
At 9-watts of electricity use, the World Bulb is designed to handle the variable quality of power in emerging economies around the world. Even compared with relatively efficient CFLs, the new bulb uses 35% less electricity and, unlike fluorescent lights, contains no toxic mercury. At a suggested retail price below $15, the World Bulb's payback from electricity savings versus incandescent should take approximately 8 months with a calculated lifetime of 17 years based on 8 hours a day of use.
For more information about Lighting Science Group's products visit: www.lsgc.com.
For more information on Consumer Electronics Association's 2012 International CES Innovations Awards visit: http://www.cesweb.org/awards/innovations/
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 Corporation
