EASTLAKE, OH--(Marketwired - Oct 12, 2016) - US Lighting Group, Inc. (OTC PINK: USLG) ("US Lighting Group" or the "Company"), an American designer and manufacturer of patent-pending LED lighting and other technologies, is pleased to announce that it has begun strategic plans to develop, manufacture and market products aimed at the horticulture industry. These plans include, but are not limited to, establishing strategic alliance and joint ventures and exploring potential acquisitions of products and companies. The Company's plans are in the early stage of implementation and accordingly, the Company has not entered into any preliminary or definitive agreements with third parties.
"Expanding USLG into the multi-billion dollar market for horticultural industry lighting products is a natural extension of our expertise in designing and manufacturing the absolute best commercial LED lighting available," commented Paul Spivak, founder and CEO of US Lighting Group. "I am very confident that we can leverage our Made-in-America strengths to identify and act on several of the new opportunities we are currently evaluating in this rapidly changing and growing sector."
According to the most recent census conducted by U.S. Department of Agriculture's National Agricultural Statistics Service (NASS), U.S. horticulture operations sold a total of $13.8 billion in floriculture, nursery and specialty crops in 2014, up 18% since 2009. The number of horticulture operations in the United States increased 8% during this time to 23,221. Family or individually-owned operations made up the largest number of operations, accounting for 53%, but corporately owned operations accounted for 76% of sales ($10.5 billion). Horticulture production was concentrated in 10 states which accounted for 65% of all U.S. horticulture sales in 2014. California ($2.88 billion), Florida ($1.80 billion) and Oregon ($932 million) led the nation in horticulture sales. These statistics do not include operations and sales in the rapidly expanding state-legal cannabis sector.
Spivak concluded, "With a diverse and expanding market of this size, we feel there are many opportunities to find synergies, adopt new technologies, and further increase year-round productivity for growers. We look forward to utilizing our design and manufacturing talents to assist growers in achieving their strategic objectives, particularly as technologies and techniques evolve and new disruptors enter the mature horticultural sector. We believe USLG is in a unique position to help growers in this dynamic marketplace and to provide them with customized growing solutions."
USLG anticipates releasing additional information regarding its planned entry into the development, manufacture and marketing of products targeted to the horticultural industry over the next few weeks.
About US Lighting Group, Inc.
US Lighting Group, Inc. (OTC PINK: USLG), founded in 2011, is an Ohio-based independent designer and manufacturer of high quality patent-pending transformerless "green" LED lighting tubes for sale and distribution into the commercial and industrial 4' tube lighting sectors in the United States and abroad. US Lighting Group's flagship line of LED bulbs is the BH4 Series which are distributed throughout the United States to various commercial and industrial end-users and resellers, and also available at several online retailers, including The Home Depot. Every US Lighting Group LED bulb is 'Made in the USA' at the Company's own manufacturing facility located near Cleveland, Ohio.
For additional information regarding US Lighting Group, Inc., visit www.uslightinggroup.com.
Forward Looking Statements
Statements included in this press release, other than statements of historical fact, are "forward-looking statements" made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are typically, but not always, identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements.