Lighting Science Group's (OTC:LSCG) announced in a press release yesterday that its high-performance and ultra-efficient LED bulbs are now lighting up hundreds of Simon Property Group's (NYSE:SPG) mall kiosks across the country. As I write, shares of Lighting Science were down 2 percent at $3.92 per share on light volume of just over 3,000 shares. The company has a market cap of $319 million and a 52-week range between $0.35 and $7.40 per share. Shares of Simon Property were up slightly on the day at $104.10 per share on volume of just under 500,000 shares."Lighting Science Group's LED bulbs are a dramatic improvement in terms of efficiency, longevity, color rendering, and output over what we previously had installed in our mall kiosks," said George Caraghiaur, Senior Vice President, Energy Services & Procurement for Simon Property Group.
"With rising energy costs across the country, companies like Simon Properties are looking for ways to save energy - the installation of Lighting Science Group's ENERGY STAR approved LED bulbs will significantly reduce businesses maintenance, replacement and energy costs," said Rich Weinberg, Chairman and Chief Executive Officer of Lighting Science Group.
Simon Property Group is an S&P 500 company and the largest real estate company in the U.S. The Company currently owns or has an interest in 393 retail real estate properties comprising 264 million square feet of gross leasable area in North America, Europe and Asia. Simon Property Group is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide.
For further information, visit the Simon Property Group website at www.simon.com.
Lighting Science Group designs, develops, manufactures and markets LED lighting solutions that are environmentally friendlier and more energy efficient than traditional lighting products.
More information about Lighting Science Group is available at www.lsgc.com.
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