Epilight Holdings Co. Ltd will purchase a minimum of US$2 million worth of LSG's LED lighting products and technical supporting services. The companies will jointly develop products that will be marketed by Epilight Holdings Co. Ltd's sales force in Asia and Europe.
In addition, Epilight Holdings Co. Ltd and associates operate manufacturing facilities in mainland China that will be used for the production of certain products that are a part of the arrangement.
LSG will work cooperatively with Epilight Holdings Co. Ltd to produce some of its products for worldwide distribution.
"This multi-year arrangement with Epilight Holdings Co. Ltd is a demonstration of the growing global potential for our leading-edge, LED-based intellectual property. Additionally, this arrangement with Epilight Holdings Co. Ltd will help secure LSG's market leader position, and give our products a global footprint that encompasses key markets in Europe and Asia," said Ron Lusk, chairman and CEO of Lighting Science Group.
"We are confident that Lighting Science Group's solid state lighting solutions will provide our customer base with products that are easy to install, significantly reduce electricity consumption and have a long lifespan that results in significant costs savings. We are very pleased to have an opportunity to open this exciting new market in collaboration with a leader in the solid state lighting field," said Gary Chan, General Manager, Epilight Holdings Co. Ltd.