R20 Regions of Climate Action, Lighting Science Group, & Pegasus Capital Advisors Complete Initial LED Streetlight Installati...
December 15 2014 - 10:15AM
Business Wire
R20 Regions for Climate Action, Lighting Science Group (OTCQB:
LSCG), and Pegasus Capital Advisors announced today that they have
installed an initial set of 52 LED streetlights in Brazil. The
well-attended ceremony last Saturday night in Nova Friburgo
illuminated the city’s central square. The group and their other
local partners hope to implement large-scale street lighting
projects across Brazil by minimizing the upfront cost of installing
new LED streetlights, and saving over 50% of previous energy
usage.
At the event were politicians and business leaders, in addition
to hundreds of citizens, intent on seeing the 52 fixtures
illuminated for the first time. Now a permanent element of the Nova
Friburgo street lighting system, the “mini” is a welcomed change
and futuristic addition to the collection of traditional street
lights currently spread around the city.
Lighting Science’s LED technology and minimalist design is front
and center in this display representing the world premiere of the
mini. Lasting over 10 times longer than traditional lighting, the
mini substantially reduces the maintenance costs associated with
street lighting and avoids the waste associated with continually
replacing most of the components of traditional fixtures. Further,
the mini uses 75% less material and is 50% more energy efficient
than traditional lighting solutions, saving customers money and
significantly reducing the carbon footprint of the lighted
environment.
Given the budget pressures facing municipalities across the
world, the R20 and its financial advisor, Pegasus, knew that a
financing solution is needed in order to roll out these
installations on a large scale. By building relationships with
local financing partners and leveraging Pegasus’ experience in
structuring complex transactions, the group is establishing a
first-of-its-kind financial structure to make LED adoption as
seamless as possible. This is what has led Nova Friburgo and
municipalities across Brazil to be so enthusiastic about installing
LED street lights.
“Efficient energy usage is a key tool that we will need to
employ in the fight against climate change – by helping developing
economies become more energy efficient while saving them money we
can drastically reduce the environmental impact associated with
economic development,” said Terry Tamminen, the R20’s Chief
Strategic Adviser and former Director of the California
Environmental Protection Agency.
“The transformation of light to a digital technology enables us
to completely change the way we think about designing lighting
fixtures,” said Fred Maxik, Chief Technology Officer of Lighting
Science. He continued, “No longer are we confined to the
traditional cobra head design for street lighting. This
revolutionary change enables us to integrate additional
functionality and build greater efficacy into lighting
solutions.”
“Our focus on sustainable development using unique technology
and the fantastic partnerships we have built drive the success of
this project. By integrating multiple groups, each with a valuable
skill set, has proven a great way to create fundamental value,
especially in developing economies where local knowledge is a
highly critical driver of success,” said Craig Cogut, Founder and
Chairman of Pegasus Capital Advisors.
About R20 Regions of Climate Action
The R20 Regions of Climate Action is a coalition of partners led
by regional governments that work to promote and implement projects
that are designed to produce local economic and environmental
benefits in the form of reduced energy consumption and greenhouse
gas emissions; strong local economies; improved public health; and
new green jobs. These local actions can help the world achieve our
shared global environmental and economic goals.
About Lighting Science Group
Lighting Science Group (OTCQB: LSCG) is a global leader in
superior lighting solutions that are environmentally-friendlier and
more energy-efficient than traditional lighting products. Lighting
Science’s mission is to advance the world’s lighting to
exponentially improve the quality of life for all. Lighting Science
is committed to unleash the science of light to make people and our
planet look, feel, and heal with award-winning, innovative LED
lamps and lighting fixtures. Find out more at www.lsgc.com or
www.definitydigital.com and join us on Twitter, Facebook, LinkedIn
and the Lighting Science Blog.
About Pegasus Capital Advisors
Pegasus Capital Advisors, L.P. is a private equity fund manager
that has been providing creative capital and strategic solutions to
companies across a variety of industries since 1996. Pegasus
partners with management teams of growth companies, with a focus on
those that benefit from the business implications of global
resource scarcity. Sectors where this trend is most pronounced are
food, water, energy, health & wellness and security.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20141215005834/en/
Lighting Science Group CorporationKate Kaminski,
321-610-9541Marketingkate.kaminski@lsgc.com
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