SOURCE: Korsair Holdings AG

Korsair Holdings AG

February 15, 2013 03:00 ET

Korsair Holdings Establishes Partnership to Explore the Energy Efficiency Market in Bulgaria

BERLIN--(Marketwire - Feb 15, 2013) - Korsair Holdings AG (BERLIN: NOM) announces that it has entered into partnership with GAIA Consult Ltd, a Bulgarian Development Company in order to explore the Energy Efficiency Market in Bulgaria. The partnership led by GAIA Consult consists of an international experienced group of local entrepreneurs, attorneys and financial specialists with long experience working with local Authorities and Municipalities in Bulgaria.

In October 2012 the EU adopted the Directive 2012/27/EU on energy efficiency. This Directive establishes a common framework of measures for the promotion of energy efficiency within the Union in order to ensure the achievement of the Union's 2020 - 20 percentage headline target on energy efficiency and to pave the way for further energy efficiency improvements beyond that date. The Directive brings forward legally binding measures to step up Member States' efforts to use energy more efficiently at all stages of the energy chain -- from the transformation of energy and its distribution to its final consumption. Measures include the legal obligation to establish energy efficiency obligations schemes or policy measures in all Member States. These will drive energy efficiency improvements in households, industries and transport sectors. Other measures include an exemplary role to be played by the public sector and a right for consumers to know how much energy they consume.

According to Steven Huynh, CEO of Korsair: "Energy Efficiency is a very important business field. Korsair is constantly exploring this strongly growing market. Our goal is to develop a portfolio of innovative technologies in order to help local Governments to address their goals to reach the Union's 2020 target." Mr. Huynh amends: "We are right now exploring the Bulgarian market for implementation of Energy Efficient LED lighting solutions, a market that we believe will grow stronger as technology gets more mature, cost is decreasing and financing becomes more accessible." Mr. Huynh further states: "We are in discussions with several technology manufacturers in the US and Asia in order to develop a packaged solution, which combines the LED lighting technology with a financial lease program that draws the investment costs from the energy savings over time." 

In its recently published 2012 Global Lightning Market Model Report, Global Consulting firm McKinsey's summarizes: "The global lighting market is expected to have revenues of over EUR 100 billion in 2020, with 5 percent annual growth from 2011 to 2016, and 3 percent growth per annum from 2016 to 2020."

Further on, the report commented on: "The Architectural applications are dominating the early LED adopters, but the Residential applications are expected to become the most significant market for LED lighting solutions."

About Korsair Holdings AG

Korsair Holdings AG is a technology holding company managed by an international development group focusing on environmental and technical infrastructure projects related to renewable energy and clean technologies. By combining environmental innovations with creative management and proven industrial leadership, Korsair Holdings AG strives to stay in the forefront of the CleanTech business. We are an entrepreneurial, market-focused, process-oriented group with a global thinking and acting.

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