3M Invests in MSi Lighting

  3M Invests in MSi Lighting

Business Wire

ST. PAUL, Minn. -- March 3, 2014

3M has invested in MSi Lighting of Boca Raton, Florida, a company that 3M has
been working with for the past year on a line of LED lights for multiple
applications. Terms of the transaction were not disclosed.

LED lighting is one of the hottest industries in America. “3M’s Light
Management platform enables the company to manipulate light in different ways,
and we are committed to developing high-quality LED lights,” said Gabi
Sabongi, Vice President, 3M Corporate Ventures. “Solid-state lighting
technology has the potential to reduce U.S. lighting energy usage by nearly
one half and contribute significantly to the nation's climate change
solutions. MSI’s technology is a great fit with 3M and takes our business
relationship to the next level in a way that complements both companies.”

MSi provides quality lighting, top product performance and a large product
offering to serve customers. “The relationship between MSi and 3M is already
strong,” added MSi President John Burke. “This investment allows us to further
share ideas and innovations in LED. With 3M’s range of technologies and
expertise in optical science, we are very excited about the future and new
ways to serve customers.”

It is estimated that switching to LED lighting over the next two decades could
save the country $250 billion in energy costs over that period, reduce the
electricity consumption for lighting by nearly one half, and avoid 1,800
million metric tons of carbon emissions.

“We are excited about MSI’s energy efficient LED lighting technology. Our
investment will enable us to provide better LED lighting options to our
customers,” said Stefan Gabriel, President, 3M New Ventures.

About MSi

MSi has always been focused on creating a solution to the high-energy
consumption of hot, costly halogen lights in a myriad of applications –
particularly in Retail, Hospitality, Museums and Furniture. Today, MSiXPAR’s
are getting rave reviews across the nation, including the coveted INC500 award
Top 500 fastest growing companies in America. For more information on MSi,
visit their web site at www.msissl.com

About 3M

3M captures the spark of new ideas and transforms them into thousands of
ingenious products. Our culture of creative collaboration inspires a
never-ending stream of powerful technologies that make life better. 3M is the
innovation company that never stops inventing. With $31 billion in sales, 3M
employs 89,000 people worldwide and has operations in more than 70 countries.
For more information, visit www.3M.com or follow @3MNews on Twitter.

Contact:

3M
Colleen Harris, 651-733-1566
or
MSi
John K. Burke, 561-212-8482
 
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