Cincinnati, Ohio — LSI Industries Inc. (NASDAQ:LYTS) today announced an initiative to further the Company’s capabilities in emerging technologies through the formation of an Innovation Team to be led by Andy Foerster, Chief Technology Officer (CTO). Team members were selected from each of the Company’s three divisions, and will focus on developing and refining key technologies and innovations that will be used in future SmartVision®solutions. The team’s overriding goal is to ensure that LSI continues to systematically deliver high value lighting, control, and digital image solutions to its Lighting and Graphics customers.
LSI has a strong history of delivering leading edge LED solutions. It was an early adopter of LED technology and was among the first in the industry to exceed 60% of lighting sales from LED based products and solutions. LED-based SmartVision® solutions are incorporated in products in the Lighting, Graphics, and Technology divisions of LSI.
LSI showed its early LED technology leadership as its drivers included SmartVision® features like: digital control, closed loop feedback of light level and temperature, high wattage applications, and the widest LED drive voltage operating range in the industry. In the LED luminaire itself, LSI has been a leading innovator in reflective optics supported by its strong patent portfolio.
LSI’s lighting controls group pioneered a number of SmartVision® advances in outdoor lighting control, including: schedule management in the controller, integrated sensors, a patented mesh network system, and mobile apps. A recent installation of LSI’s control system at the General Dynamics NASSCO facility in California was recognized at a ceremony with the mayor of San Diego for its environmental stewardship. http://www.nassco.com/news-center/news-releases/2015/052915.html
Since joining the Company as CTO in March of this year, Mr. Foerster has worked closely with the three LSI Division Presidents to develop the technology and innovation parts of their strategic plans related to future SmartVision® product development and commercialization. Mr. Foerster commented, “I am excited by the level of sophistication in technology capabilities that I have seen throughout the Company. I am confident that by applying a structured approach to the continued development of these capabilities, we will be able to accelerate our continued development of SmartVision® technologies.”
Andy Foerster received a Bachelor of Science, Electrical Engineering from the U.S. Naval Academy; a Master’s Degree in Electrical Engineering from George Mason University; and an MBA from Marymount University. He is a licensed Professional Engineer. Prior to joining the Company, he served as Residential and Wiring Devices Division Engineering Director at Eaton Corporation. Previous employers include Creative Energy Control LLC, Masco Technical Innovations, Piller Inc., Schneider Electric (Square D Company) and General Electric. Mr. Foerster began his career as a nuclear submarine officer in the U.S. Navy.
Dennis Wells, Chief Executive Officer, commented, “We recognize the importance of supporting a systematic process of making sure that we continue to build upon the SmartVision® advancements that LSI has made in the past, as well as developing new innovative products as we move forward. Technology development is one of the ways that today’s companies ensure that they will be relevant in the new internet connected world, and it is a key part of the LSI business strategy.”