LED Lighting Fixtures, the new venture of former Cree chairman and chief executive officer Neal Hunter, has unveiled its first product.

The light-emitting diode fixture provides as much light as a 60-watt standard light bulb but only consumers 27 percent of the power. LEDs also have a tremendously long life expectancy when compared to bulbs.

“One hundred days ago, we served notice that we were going to usher in a disruptive change in general lighting technology coupled with a dramatic increase in lifetimes (decades) and greatly reduced energy consumption,” said Hunter, who is chairman of the new firm. “Our first results exceeded our expectations and we now believe that existing LED technology can go much further. The days of choosing between a grossly inefficient incandescent bulb or a mercury-laden fluorescent product may soon be coming to an end.”

The company has filed for five patents related to development of its first fixture.