MELBOURNE, Fla--(BUSINESS WIRE)--Lighting Science Group (LSG), a global leader in superior lighting solutions that are environmentally-responsible and energy-efficient, has been chosen as a founding partner in the $200 million plan that will make Pakistan's largest urban area the country’s first “Smart City".
Lighting Science and AmeriGroup, one of the largest sustainable infrastructure development and manufacturing companies in the UAE, recently signed a memorandum of understanding with the Sindh government that puts Lighting Science in charge of creating a resilient system of infrastructure lighting and security throughout the seaport city of Karachi, once known as the 'City of Lights,' and home to almost 24 million residents - the second-largest population of any city in the world. The project will feature LSG’s FreeLED integrated solar LED lighting system along bridges, roads and other public venues. The transformation to energy-efficient lighting is part of the plan’s first $20 million phase that also includes adding wireless Internet and CCTV cameras.
Lighting Science’s largest shareholder, Pegasus Capital Advisors, will also be involved, assisting with raising funds for the security monitoring, LED street lighting, smart pole construction and system integration provided by the international telecom firm Huawei, the smart pole solutions provider and integrator Streetscape, and LSG.
"We believe the future prosperity of cities lies in embracing not only collaborative partnerships, but leveraging the benefits of connectivity and energy efficiency," said Craig Cogut, founder and chairman of Pegasus Capital Advisors. "The infrastructure that defines the ambiance and safety of a city must be resilient – distributed and energy efficient solutions, such as off-grid street lighting, are the wave of the future and we are excited to be bringing them to Pakistan."
Lighting Science is noted for its LED technology and design. Its FreeLED integrated solar LED lighting system is remarkable for its impressive energy efficiency and minimal materials usage. This system enables a resilient, grid-independent approach to street lighting, as opposed to standard street lighting, which is serially linked to electrical infrastructure and therefore systematically vulnerable. Similarly, the Mini Roadway takes a minimalist approach to lighting – it is up to 50% more energy efficient while using as much as 75% less material than standard lighting solutions. Additionally, with a light source that lasts up to 10 times longer than traditional lighting, it reduces the maintenance costs associated with street lighting and avoids the waste created by continually replacing most of the components of traditional fixtures. Collectively these LED street lighting solutions provide an unparalleled degree of reliability, efficiency, and security that will help save lives and promote the wellbeing of the people of Pakistan.
“With the help of Lighting Science and its partners, we expect to transform Karachi into Pakistan’s first Smart City,” said the Sindh Information Minister Shrajeel Inaam Memon. He continued, “the combination of off-grid LED lighting and other security solutions will greatly improve the safety and wellbeing of the citizens of Karachi.”
The distinct advantages of LSG’s approach were recently showcased in two cities in Brazil, where the company installed LED streetlights in the first phase of a project to improve the street lighting of cities across Brazil and save money in the process.
"We are tackling the issue of modernizing street lighting infrastructure at minimal cost head-on in Brazil, and now Pakistan," said Ed Bednarcik, CEO of Lighting Science. "With so much of the global population now living in cities, municipalities will have to offer more welcoming atmospheres to attract residents, visitors and industry. In short, cities themselves will have to become brands. High-quality, intelligent lighting makes a city safer and more attractive, enhancing its brand identity – the distinctive signature that defines its appeal and differentiates it from others."
About Lighting Science Group
Lighting Science Group (OTCQB: LSCG) is a global leader in superior lighting solutions that are environmentally-responsible and more energy-efficient than traditional lighting products. Lighting Science’s mission is to advance the world’s lighting to exponentially improve the quality of life for all. Lighting Science is committed to unleash the science of light to make people and our planet look, feel, and heal with award-winning, innovative LED lamps and lighting fixtures. Find out more at www.lsgc.com or www.definitydigital.com and join us on Twitter, Facebook, LinkedIn and the Lighting Science Blog.
About Pegasus Capital Advisers
Pegasus Capital Advisors, L.P., is a private equity fund manager that has been providing creative capital and strategic solutions to companies across a variety of industries since 1996. Pegasus partners with management teams of growth companies, with a focus on those that benefit from the business implications of global resource scarcity. Sectors where this trend is most pronounced are food, water, energy, health & wellness and security.
