Global Resource Energy -- Positioned to Benefit From Growth in the Worldwide "LED Market" With Its Clean Energy High Efficiency LED Street Lighting
Sep 05, 2012
LAS VEGAS, NV--Global Resource Energy, Inc. (GBEN) ("Global," "Global Resource" or the "Company"), a development stage company engaged in the clean technology sector, is pleased to be strategically positioned to benefit from the worldwide growth in "LED Markets."
Global Resource Energy, Inc.'s President Robert Baker states, "The Company has strategically positioned itself to capitalize in growth and profitability by obtaining a market share from the current growth in the global trend of converting to LED lighting."
In McKinsey & Company's August 2011 report, projections show that the global lighting market is expected to have revenues of approximately EUR 110 billion or USD 138 billion in 2020 -- comparable to the global TV market. A number of megatrends underlie this expansion. Global population growth and urbanization are increasing the overall demand for lighting products. Resource scarcity and climate change concerns are driving the industry trend towards more energy-efficient lighting technologies. This is being accelerated by government regulation on energy efficiency around the globe.
The advent of LED technology -- only the fourth lighting technology in the history of human mankind -- is set to transform this industry. LED technology has not achieved a competitive cost position in most applications up to now. But heavy investment from various companies is forecasted to cut costs at a rate of 30 percent per annum, and LED is becoming a broadly affordable technology.
Figures suggest that estimated global revenues from the LED lighting market will grow at 30% per annum, amounting to almost EUR 65 billion by 2020 -- close to 60 percent of the overall lighting market.
LED lamps have significant advantages over incandescent bulbs. The average life of an LED light is 100,000 hours or 10 years as opposed to 2,000 hours for an incandescent bulb. LED lamps are not affected by on and off operation while incandescent bulbs are. LED lamps operate at a low temperature, use low power consumption and are not susceptible to a cold filament inrush current. The primary benefit of LED Lamps over incandescent bulbs is the tremendous cost savings by eliminating replacement costs, lowering power consumption and reducing operating temperatures.
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About Global Resource Energy, Inc. (GBEN)
Global Resource Energy is a development stage clean Technology Company interested in the development and commercialization prospects of new and innovative fuel cell and other efficient green technologies aimed at creating a safer and cleaner environment while improving the health of the domestic economy. Sustainable growth is the cornerstone of the Company's mandate and vision and Management embraces the convergence of environmental solutions and economic viability as a yardstick for stakeholder success. Find out more at www.global-resource-energy.com.
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