Lighting Science announced a joint venture with MLS Co. Ltd. The joint venture will operate under the name Global Value Lighting and will be based in Rhode Island. Global Value Lighting will capitalize on Lighting Science's extensive technology and intellectual property, including the company's nearly 400 LED lighting technology patents, and MLS's cost-structure and scale as a global LED lighting company.

Global Value Lighting will combine the retail relationships, channel partnerships and strong customer base that Lighting Science has developed in North America over the past 15 years, with MLS's manufacturing, processes and cost-efficiencies. Under the terms of the agreement, Lighting Science will own 51% of the joint venture, with MLS owning the remaining 49%.