Light Waves Concept CEO Joel Slavis unveiled ambitious plans to increase his company's share of the light emitting diode (LED) market by launching a new overseas operation to manufacture several lines of bulbs. The move comes on the heels of a third quarter which greatly surpassed expected growth.
Slavis credits the 30% rise in sales, amidst a shaky economy, with the introduction of LEDs to his internet commerce site. Slavis began selling LEDs in 2003 and now stocks over 800 LED fixtures and bulbs, in addition to 1700 varieties of track lights.
By the year 2025, the Department of Energy expects to decrease energy spending in the U.S. by 30% through the use of LEDs. The semiconductors use 10% of the energy expended by standard bulbs and last up to ten years. Since their widespread introduction a few years ago, they've drastically leveled the playing field of a lighting industry long dominated by GE and Phillips.
Light Waves' new factory will be tentatively located in Shanghai with an initial staff of under 50 workers. The line will be re-branded LED*Waves and production will be headed by a Taiwanese physicist- as yet unnamed due to previous corporate confidentiality agreements- who will bring in a small team of designers and technicians. The move signifies a major leap for the home-grown company with a CEO who, up until last year, acted as engineer, sales manager and technical advisor.
Slavis has designed LEDs for a myriad of different applications, including traffic lights, safety evacuation systems and kitchen cabinet lights. Each light is engineered in Noho and components are subcontracted out to be assembled back on the company's production line in Brooklyn. The factory will enable Light Waves to remain on the cusp of LED technology, which doubles by the year while it halves in cost, and control inventory while cutting costs dramatically.
This month, Light Waves jolted the industry with the introduction of a 3 watt recessed High-Power LED Cabinet Light containing LEDs 25X stronger than standard LEDs and the 88 LED Globe, a screw-in light bulb capable of producing between 30 to 45 watts making it one of the first LEDs bright enough for ambient usage. The two will be among the first models to roll off the new production line.