The firm explained that the new bulbs have a lifespan of more than 25 years, which is significantly more than the five to seven years traditional devices last for.
GMP has submitted a plan for the LEDs and if it is approved, the bulbs could be in place as early as March 1st 2010, WCAX.com reports.
Dotty Schnure, who works for the company, said: "By reducing the amount of electricity that you use by more than half, it eliminates any environmental effects that will be needed to produce that power."
She added that the new LEDs also have very specific disposal issues, which means that although they contain mercury, it does not pose any threat to the environment.
Earlier this week, residents living near Billings in the US launched a petition to encourage the use of LED lighting on the region's roads.
