June 14, 2004... HONG KONG--Fulham Co. Ltd., a Hong Kong-based international distributor of high-tech energy saving lighting, announced today that it has reached an exclusive agreement to market a revolutionary LED floodlight and spotlight designed By Lighting Science, Inc., a subsidiary of the Phoenix Group Corporation (Pink Sheets: PXGP). Fulham believes that the new products from Lighting Science will overcome the three main obstacles to customer acceptance and sales of LED light bulbs.
1. Cost Effectiveness - LED bulbs can now be manufactured for 20% of the cost of previous technology due to the novel combination of LEDs and Lighting Sciences patent-pending electronic driver. For the first time, LEDs bulbs are widely affordable.
2. Additional Light - Using the same surface area, Lighting Sciences LED bulbs provide the same light output as incandescent bulbs, due to a 40% increase in light output vs. previous LED technology. Thus, LED bulbs can replace incandescent bulbs on a one -for-one basis.
3. Dimmable - Lighting Sciences system of power control allows linear dimming using standard wall controls which eliminates the need for rewiring. Previously, LED and fluorescent bulbs were either not economically dimmable or not dimmable at all.
In addition to these three major improvements, other key benefits of LED technology include:
Super low energy consumption - For the same light output, an LED bulb consumes about 10% of the electricity of an equivalent incandescent bulb and 25% of the electricity of an equivalent fluorescent bulb.
Very long life - LED bulbs have a useful life that is up to 50 times longer than incandescent bulbs and up to 16 times longer than fluorescent bulbs.
Environmentally friendly - LED bulbs improve the environment because: a) the entire bulb assembly is disposable and is 100% environmentally safe, b) they are mercury-free, unlike fluorescent bulbs, and c) consume much less energy which reduces greenhouse gas emissions.
Fulham students that the average payback in terms of energy savings and lamp change out costs will be 6 months to 2 years, depending on the hours of daily usage.
Fulham believes that this new product, which will be supplied in a very modern and stylish polycarbonate housing, has a high probability for sales success in many areas of bulb distribution, including:
Electrical wholesale market
Mass merchandiser market
Commercial lighting fixture OEMs
Hospitality and maintenance industry
Home shopping market
Specialty catalog sales market
Ron Lusk, chairman and chief executive officer of The Phoenix Group Corporation, said, We are excited to partner with Fulham in bringing this revolutionary new product to the world market. Fulhams international presence, manufacturing excellence, and distribution prowess will enable Lighting Science to rapidly Fulfill its vision of changing the way that our buildings are illuminated.
Fulham will offer this product in all four of its world markets- United States, Hong Kong (International), China, and Dubai (Middle East) - with sales scheduled to begin in September of this year.
For more information contact Fulham at
Lighting Science, Inc. can be contacted at
The Phoenix Group Corporation can be contacted at
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Contact:
The Phoenix Group
Kathy Fuller, 214-382-3641
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