EASTLAKE, OH - (NewMediaWire) - December 2, 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 launched a new business development initiative in the rapidly expanding light therapy market. The Company plans to utilize its extensive proprietary LED lighting design and manufacturing expertise to develop, manufacture and market products aimed at both the home and commercial/medical light therapy markets.
Light therapy, also known as phototherapy, consists of exposure to daylight or to specific wavelengths of artificial light to treat various health/medical issues, including certain mood and sleep related disorders, such as Seasonal Affective Disorder (SAD) and jet lag, and some skin conditions, such as acne and psoriasis. Light therapy technologies are also utilized to assist in wound healing and in various anti-aging treatments.
The global light therapy market is forecast to grow above 4.5% CAGR from 2016 to 2024 and reach over USD $980 million by 2024. Increased adoption of "lightboxes" by patients and the medical community to treat SAD has accelerated the light therapy market growth.
"Designing and manufacturing proprietary 'Made in the USA' products for the light therapy market is another potential new revenue stream for the Company and a natural extension of USLG's world-class LED lighting expertise," stated Paul Spivak, founder and CEO of US Lighting Group. "Over the past decade, we have been on a quest to create the world's longest lasting LED light bulbs, right here in America. USLG is now applying that vast knowledge to the area of light therapy to develop high-quality safe and effective products that work more efficiently, last longer, and cost less to operate."
USLG's strategy for rapid entry into the light therapy market may include the development and mass production of several new LED bulbs specifically designed for use in existing light therapy applications and the potential development of novel proprietary light therapy applications based on both new and existing USLG LED technologies. This strategy may include establishing 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.
USLG anticipates releasing additional information regarding its light therapy market strategy 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.
US Lighting Group, Inc.