A new LED light bulb which is claimed as “the best light bulb in the world” has been released on Friday by the Fortuna-based C. Crane Company in Humboldt County, California.

The new GeoBulb LED light bulb introduced by the C. Crane Company comes in three color spectrums: cool, soft and warm. It uses 7.5W to provide as much light as a 60-watt incandescent light bulb, and has a typical lifespan of 30,000 hours -- or 10 years. The bulb can reduce worldwide energy use by 10 percent, cutting energy bills in half over the next 10 years, according to Robert C. Crane, President of the company.

“It's the best light bulb in the world. It's the most efficient and the longest-lasting,” said Crane.

It has taken three years for the company to develop this energy-saving LED bulb. The C. Crane Company hopes to encourage other companies through the release of this new product to follow up and develop more energy-saving products.

Featuring all the advantages of an energy efficient light bulb, the GeoBulb is comparatively high priced—$119 currently. To lower the cost is among the efforts the company has planned to make in the future, said Jessica Gillette, director of sales and marketing.