Lighting Industry News

TCP Update: Yan Calls Suit Meritless

March 03, 2015: 1:59pm
Yan admits that he’s no shrinking violet. In his statement — which did not address specific allegations in the lawsuit — Yan says he has a “very results-oriented leadership style.”He also says he has “high expectations of others” — which helped him “build TCP from zero to more than $400 million a year in revenue.”  Read the complete story by Chuck Soder at Crain's Cleveland.... Read More

Strategies in Light Needs a New Strategy

March 03, 2015: 7:05am
This year Strategies in Light, usually located in the heart of Silicon Valley, co-located with the LED Show in Las Vegas.  This was a mistake.  Part of what made SIL special was the Silicon Valley thing.  Much of today’s technology began in the valley, and probably 90% of the funding for lighting startups originates there.  Attendees complained to me that they normally visit companies in the... Read More

TCP Issues Statement; Implements Additional Levels of Quality Control

March 03, 2015: 6:03am
AURORA, Ohio, March 2, 2015 /PRNewswire/ -- TCP International Holdings Ltd. (TCPI) ("TCP" or "the Company") today issued the following statement in response to the lawsuit recently filed by its General Counsel:  TCP takes these allegations seriously.  The Audit Committee of TCP's Board of Directors, which is comprised solely of independent directors, is investigating these claims with the assi... Read More

Key Items in the TCP Suit--**warning graphic language**

March 02, 2015: 7:13am
Laura Hauser is the General Counsel, Secretary and Chief Compliance Officer for TCP. On Friday, we learned that Ms. Hauser is also suing TCP as well its CEO, Ellis Yan. You can read the entire suit here.   We studied it over the weekend and have a few comments that follow key numbered paragraphs in the suit  (in bold  italics): 5.   Yan and his relatives control about 70% of the stock. It... Read More

Crain's Cleveland: Suit Claims Yan Allegedly Ordered 40,000 Lamps Falsely Marked with UL

February 27, 2015: 2:36pm
There are many stories breaking right now, but Chuck Soder at Crain's Cleveland seems to have the most details.   Alleges Yan struck female attorney “You will be sorry”  The parent company issued a statement saying it is “currently in the process of evaluating these claims and intends to vigorously defend itself. Read the story here. ... Read More

TCP Being Investigated. Stock Drops 52%. Stock Halted

February 27, 2015: 2:22pm
AURORA, Ohio, Feb. 27, 2015 /PRNewswire/ -- TCP International Holdings Ltd. (TCPI) today announced that claims were filed in Cuyahoga County, Ohio against the company and its CEO, Ellis Yan, alleging misconduct by the CEO and related matters.  TCPI is currently in the process of evaluating these claims and intends to vigorously defend itself. Shareholder Rights Law Firm Johnson & Weaver, ... Read More

Paul Tarricone Promoted to Publisher of Lighting Design+Application Magazine

February 27, 2015: 6:57am
Editor's Note:  Paul Tarricone's role at LD+A is similar to Bill Hanley's role at IES--a strong and steady hand dedicated to continuous improvement.  Paul has completely transformed LD+A during his tenure and we congratulate him on this well-deserved promotion. New York, NY (February 26, 2015) Today, the Illuminating Engineering Society of North America (IES), the international leader in lighti... Read More

LRC's Figueiro at SIL: Does “Do no harm”= “Do nothing”?

February 26, 2015: 12:44pm
The speakers at the 2015 Strategies in Light are exceptional.  My hat is off to the SIL team for such influential speakers and timely topics.   Mariana Figueiro, Program Director, Lighting Research Center, RPI,  gave a terrific presentation entitled, Light and Health: Does “Do no harm”= “Do nothing”? My key takeaways are below: The earth’s clock is 24 hours, but our biological clo... Read More

Orion Completes $19.1M Public Offering; Stock Price Remains Battered

February 26, 2015: 8:19am
Orion Energy Systems, Inc. (NYSE MKT: OESX), a leading designer and manufacturer of high-performance, energy-efficient lighting platforms, today announced the completion of an underwritten public offering of 5,462,500 shares of its common stock at a purchase price of $3.50 per share. The offering includes the exercise in full of the underwriter’s over-allotment option to purchase an additional 7... Read More

LEDucation 9: 7 Days Away

February 26, 2015: 7:54am
EdisonReport will be covering LEDucation 9 beginning next Thursday, 5 MAR.  We have had some preliminary discussions with the LEDucation team (all volunteers) and one of the very exciting features of this show will be the inaugural launch of Mission Control.  This will be a real-time, hands-on opportunity to lean how a variety of controls, transformers, drivers and LED lighting products work t... Read More

IoT Expected to Quadruple in Size by 2020

February 26, 2015: 7:52am
Organizations are seeing measurable benefits from Internet of Things (IoT) projects, and the number of overall IoT connections will more than quadruple between 2014 and 2020, according to a Verizon Enterprise Solutions report released Feb. 23.... Read More

Eaton Increases Dividend 12%

February 25, 2015: 7:53am
DUBLIN--(BUSINESS WIRE)--The Board of Directors of power management company Eaton (ETN) today declared a 12.2 percent increase in the quarterly dividend from $0.49 per ordinary share to $0.55 per ordinary share. The dividend is payable March 20, 2015 to shareholders of record at the close of business on March 9, 2015. For U.S. tax purposes, Eaton estimates that all of the 2015 dividend will be tr... Read More

VC at Strategies in Light, "If you can’t measure the impact, you cant monetize it—and investors won’t underwrite it."

February 24, 2015: 4:52pm
One of the many benefits of SIL is the open and active role in which Venture Capitalists are allowed and encouraged to participate.  Konrad Jarausch,  Technical Analyst, Renewable Energy And CleanTech, with Passport Capital gave a fascinating talk entitled, “Squeezing Blood out of Stone?  Investing in LED/SSL Companies.”  If you want to know what VC’s think of our industry, read on.  ... Read More

Philips CEO: Lighting and Lighting Components Have Separate Sale Plans Due to "Lack of Strategic Fit"

February 24, 2015: 1:19pm
(Bloomberg) -- Royal Philips NV’s split with its lighting division will probably involve selling shares in the unit as the Dutch manufacturer shifts focus to health technology.  ... Read More

LEDucation to Add 'Mission Control' Kiosks

February 24, 2015: 8:14am
We offer three interactive kiosks for those with the very simplest of questions: - (Does this work?) and for the technocrats who want to know what 0-10V, forward phase, reverse phase and standard incandescent dimming are and for those who want to see the various interactions between different controls and power supplies/drivers/transformers.  ... Read More

LED Lighting Market in India set for Huge Growth

February 24, 2015: 8:03am
The LED lighting market in India is projected to reach $2.2bn by 2021, according to market analyst 6Wresearch. ... Read More

Crain's Cleveland Looks at the Impact GE's LED Business

February 23, 2015: 5:16am
GE Lighting executives say they understand the challenge the company will face as people throw out the bulbs that Thomas Edison invented 130 years ago and replace them with light-emitting diodes - which are semiconductors that emit light. ... Read More

Orion Energy Systems Prices Public Offering of 4.75M Shares at $3.50/Share

February 20, 2015: 6:16am
MANITOWOC, Wis.--(BUSINESS WIRE)--Orion Energy Systems, Inc. (NYSE MKT: OESX), a leading designer and manufacturer of high-performance, energy-efficient lighting platforms, today announced the pricing of its upsized underwritten public offering of 4,750,000 shares of its common stock at a purchase price to the public of $3.50 per share. The net proceeds to the Company from this offering are expect... Read More

LIGHTFAIR Hosts Networking Events, Awards Presentation and Celebration of the International Year of Light

February 19, 2015: 7:14pm
ATLANTA, February 19, 2015—Lighting and design professionals from around the world will converge for networking opportunities, presentations by industry thought-leaders and event experiences at LIGHTFAIR® International (LFI®)—the world’s largest annual architectural and commercial lighting trade show and conference.  LFI takes place May 3-7 at New York’s Javits Center (Pre-Conference L... Read More