Isra-Mart srl:Lighting Science Group flicks switch on $150m IPO

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Isra-Mart srl news:

Speculation that 2011 could see a flurry of clean tech IPOs was further stoked late last week after US energy efficient lighting firm Lighting Science Group (LSG) Corporation announced that it has filed for a $150m (£92.9m) IPO.

The Florida-based company confirmed it has filed a registration statement with the Securities and Exchange Commission for the proposed public offering, adding that Credit Suisse Securities and J.P. Morgan Securities will act as joint book-running managers for the proposed offering.

LSG specialises in providing energy-efficient Light Emitting Diode (LED) technologies to large commercial and retail properties, and already counts a number of high-profile names among its customers including Saks Fifth Avenue, Macy's and Bryant Park.

The prospectus for the IPO is expected to be released in the coming weeks, but it seems likely that the company will seek to use the money raised through the IPO to fund expansion efforts and respond to growing interest in LED technologies.

The company's stocks are currently traded on the OTC Bulletin Board, but the IPO would see its shares traded on the Nasdaq.

The announcement, which comes just days after biofuel specialist Gevo successfully completed a $107m IPO, will inevitably lead to predictions that the IPO window for clean tech firms is finally beginning to open again.

Algae biofuels firm Solazyme is reportedly expected to formally file for IPO within the next month, while a number of other US clean energy firms including solar giant BrightSource Energy and smart grid firm Silver Spring Networks, are currently hotly tipped for future stock market listings.