TüV Rheinland will issue Green product mark to the certified product, which can assist companies in demonstrating their corporate commitment and products’ international competitiveness to brands and retailers. In the other hand, the mark can give end consumers and buyers guidance in identifying green and sustainable products in the often crowded marketplace.
Lighting Science Group Corporation,announced that it has completed the final round in a series of private placements totaling approximately $140 million in equity funding and commitments, of which approximately $88 million is new equity funding and commitments and approximately $52 million represents the conversion of certain bridge financings occurring since the fourth quarter of 2011.
The proceeds from the new equity funding and commitments will be used to finance the Company's growth, expand its manufacturing capabilities, and enhance its leadership position in developing innovative energy-efficient LED lighting products for consumer and commercial applications in both the public and private sectors. This new round of funding will help the Company meet the growing demand for products from its distribution networks, including commercial networks (such as real estate owner/operators, retailers, and hospitality), public sector networks (such as the military and municipalities), and consumer networks (such as large-volume home improvement centers). Additionally, approximately $10 million will be used to retire a related-party obligation.
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