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NEW YORK, Nov 11, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Jamestown One Times Square Commissions Lighting Science Group to Help Create a Permanent LED Times Square Ball
Lighting Science Group Corporation (OTC Bulletin Board: LSCG) (LSG), a global developer and integrator of intelligent and efficient light-emitting diode (LED) solutions, today announced that it has designed, developed and produced an integrated lighting system for the 2009 Time Square New Year's Eve Ball. The Ball, which boasts a system comprised of 672 LED modules, will be installed on November 26 in Times Square, New York, where it will continue to remain year round.
The new Times Square Ball is double the diameter of previous Ball and is over 12 feet wide and weighs 11,875 pounds. The Ball uses 32,256 Philips Luxeon Rebel light-emitting diodes (LEDs), which is more than triple the number of LEDs used when compared to the 2008 Ball. The four LED colors, red, green, blue and white, will produce a rich color palette, resulting in 4.3 billion possible color combinations.
"The collaboration with Lighting Science Group, and all of our partners, has created an astounding new Times Square New Year's Eve Ball, with brilliant integrated LED systems that enhance the Waterford Crystals and Philips Luxeon Rebel LEDS," said Jeffrey Straus, president of Countdown Entertainment and co-organizer of New Year's Eve in Times Square. "The unique capabilities of this Ball are sure to delight revelers from around the globe as they see it for the first time on December 31st, and throughout the year, high atop One Times Square in the center of the crossroads of the world."
This year's Ball is approximately three times brighter and 20% more energy efficient than last year's already energy-efficient Ball. Lighting Science designed and developed the overall lighting system for the Ball, including the LED modules, power systems, and power and data distribution networks. In addition, LSG created custom optical reflectors which extract maximum light output, and an integrated thermal management system that optimizes the balance between brightness and lifetime. Extensive electrical, mechanical, thermal, and environmental tests were performed to assure long-term performance through all weather.
"Lighting Science was selected by Jamestown One Times Square because of our reputation for innovation, unique capabilities and proven track record, including our work on last year's Times Square Ball," said Govi Rao, CEO of Lighting Science. "We're thrilled to play such a large part in New York's newest sustainable icon, and we are excited that millions of visitors to New York will be able to experience the joy of LEDs throughout the year."
About Lighting Science
Lighting Science Group Corporation (www.lsgc.com) innovates, designs, manufactures and markets LED lighting solutions for professional and consumer applications that are environmentally friendlier and less costly to operate than traditional lighting products. The Company's patented and patent-pending designs in power management, thermal management, light engines, controls and micro-electronics are engineered to enhance lighting performance, reduce energy consumption, lower maintenance costs and eliminate the use of hazardous materials. The company is at the forefront of global LED research and product development and designs and manufactures ready-to-use LED lamps and luminaires, as well as provides customized lighting solutions for architectural and artistic projects. Lighting Science has offices in New York, New York; Westampton, New Jersey; Sacramento, California; Satellite Beach, Florida; Dallas, Texas; Tokyo, Japan; Goes, The Netherlands; Buckinghamshire, England; and Sydney, Australia.
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 S-1.
About LED Holdings
LED Holdings, LLC, 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.
SOURCE Lighting Science Group Corporation
http://www.pcalp.com/
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