SOURCE: Lighting Science

Lighting Science

November 09, 2016 16:37 ET

VividGro™ Indoor Growing Lamp by Lighting Science® Anticipating Accelerated Growth of Cannabis Market Following Legalization in Six U.S. States

Demand for Cutting-Edge LED System Increased More Than 100 Percent in 12 Months

WEST WARWICK, RI--(Marketwired - November 09, 2016) - With ballot results confirmed in three U.S. states for the recreational use of marijuana, and three for medical use, the increased demand on energy consumption in pro-cannabis territories is expected to skyrocket, continuing the trend towards LED "grow light" solutions that curb energy consumption and reduce energy costs to growers. Lighting Science's® patented VividGro™ LED lamp is proven to increase yields by up to 30% while using 45% less energy. Today, the company announced that sales of their VividGro LED indoor grow lights increased by more than 100 percent over the past year alone. The cannabis industry is anticipated to jump from $6 billion to $50 billion by 2026.

Since its introduction in 2015, VividGro has obtained rave reviews from growers and distributors across North America, recently being named One of the Top 5 Lighting Products by Marijuana Business Daily. With the successful ballot initiatives to legalize the recreation use of, and growing and manufacturing of marijuana in California, Nevada, and Massachusetts, and with Florida, North Dakota and Arkansas approving medical marijuana initiatives, the potential for energy saving technologies are being embraced by the business and agriculture community on an accelerated scale.

"Cannabis is one of the most energy-intensive industries in the world," said Pete Rumsey, Executive Vice President of Business Development at Lighting Science. "Statistics show that one percent of all electricity used in the United States today is used by indoor marijuana growers, to the tune of almost $6 billion(1) annually. As the cannabis industry continues to mature, grow facilities are increasingly turning to LEDs to reduce energy costs and boost profits."

LEDs Offer Energy Efficient Alternative to HIDs

Lighting Science was one of the first on the scene to offer an energy efficient alternative to high-pressure sodium (HPS) lighting, which have been draining the grid, as well as bank accounts. VividGro has been particularly popular in the cannabis-friendly Pacific Northwest, Michigan and Canada, where mom and pop grow facilities are quickly being scaled up to lucrative multi-million-dollar business operations. A surge in sales has been seen in the last six months, as the industry continues to grow exponentially.

"We found that standard HPS lights were really cutting into our profits," said Ralph Sherman, a local grower of medical grade marijuana in Oregon. "We literally couldn't afford to keep the lights on. By switching to LEDs we were able to cut our energy costs, increase plant yields and even increase THC levels, which increased the value of the product by 5 times."

Sherman says the use of HPS lights aren't just a financial concern, they are having a real impact on the local grid. "We see PGE, the local energy authority, struggling to meet the high demand. It's causing real problems. It's nice to find a solution that is environmental innovative and that also helps our bottom line."

About VividGro

Tailored to the indoor agriculture and horticultural markets, the state-of-the-art VividGro product line delivers optimized photosynthetically active radiation (PAR) to maximize plant growth and PAR efficacy, while also providing light suitable for the human visual system and excellent color penetration. VividGro's patented light spectrum has been proven to speed crop development and increase crop yield. In addition, unlike other LED grow lights, VividGro distinguishes itself from its industry peers by creating a "white light" working environment for grow house employees. These commercial LED solutions are highly adaptable to both urban and agricultural environments, including greenhouses of any scale. Lighting Science continues to experiment with the technology and spectrum to enhance the plant growth at different stages and has plans to launch its next generation VividGro 3 in early 2017.

About Lighting Science

Lighting Science (OTCQB: LSCG) is a global leader in innovative LED lighting solutions that designs, manufactures and brings to market advanced, intelligent products for consumer and commercial applications. We are committed to using the science of light to improve the lives and health of people and our planet by inventing breakthrough, biologically-friendly LED lamps and lighting fixtures. Lighting Science is headquartered in West Warwick, RI, with research and development facilities in Cocoa Beach, Florida, and offices in China. Find out more about us and our products at www.lsgc.com and join us on Facebook, Twitter, LinkedIn and the Lighting Science Blog.

(1) Lawrence Berkeley National Lab

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