The company is pleased to announce that its affiliate, Kardings America, has entered into a strategic partnership with Pacific Coast Agency Lighting of Vancouver, Canada. Pacific Coast Agency is an indoor lighting distributor and represents more than 15 different brands and specializes in providing complete solutions to companies looking to reduce lighting costs by switching to efficient, green technologies. Kardings intends to formalize its partnership with Pacific Coastal Agency in the coming weeks. Kardings will continue to work with Pacific Coast Agency to further acquire business in the Interior LED lighting industry, and industry that is growing at over 40% per year worldwide.
The same supply conditions that reduced the price of LEDs increased the demand for packaged LEDs in lighting applications from $1.2 billion in 2010 to $1.8 billion in 2011. System efficacy, rather than LED efficacy, was the gating factor in 2011. The LED luminaire and replacement lamp market was $9.3 billion in 2011, an increase of 45% over 2010. The market for LEDs in lighting is expected to demonstrate substantial unit growth over the next five years, but revenue growth may be lower due to pricing pressure although margins can be maintained due to reducing costs of raw materials.
Kardings is a multi-national green energy company designed to help bring eco-friendly technology to the market. Kardings offers LED Street Lights to all municipalities and can access a special fund called The Hero© program which was established specifically for green initiatives in municipalities. The lighting systems are highly efficient, dependable and come with the best warranties available in the industry. In most cases a city, town or village may retrofit to energy efficient led street lighting at no increased cost and may even put money back into municipal budgets. Kardings' website is www.kardings.com.
The company (GBEN) currently holds the exclusive license on the sale and distribution of CLED street lights manufactured for Kardings in Dongguan City, China and is negotiating with Patedma Group Corp, owner of the Kardings America brand, to further strengthen its partnership.
