Revolution Lighting Technologies Continues Expansion of BAA/TAA Compliant LED Products Through Federal and Military Energy Saving Performance Contracts
Stamford, CT, July 18, 2017 – Revolution Lighting Technologies, Inc. (NASDAQ: RVLT) (“Revolution Lighting”), a global provider of advanced LED lighting solutions, today announced that since the opening of its state of the art Simi Valley production and warehouse facility in March 2017, the Company continues to penetrate the federal and military sector through energy savings performance contract wins (ESPC), producing more than 205,000 (BAA) and Trade Agreements Act (TAA) compliant LED tubes for federal and military lighting projects.
Revolution Lighting works closely with many of the super energy services companies (ESCO) throughout the U.S. to provide its high performance BAA/TAA LED tubes for ESPCs. Recent contract wins include US Army, Air Force, Department of Defense and Marine Corps facilities, including the Parris Island Marine Corps Base. The 8,095-acre military facility, located in Port Royal, South Carolina, is the primary location for Marine Corps recruit training. Revolution Lighting’s high-efficiency LED tubes will replace existing fluorescent lighting within the marine barracks on base. The lighting retrofit portion of the project is expected to achieve a payback of less than two years.
The Company currently produces our industry leading LED tubes at this location and is in the process of adding thin panels, linear high bay and wall pack fixtures to meet the growing demand from sectors including education, municipal and notably, U.S. federal and military lighting retrofit programs. These solutions deliver superior efficiency to reduce lighting energy use by more than 65%, while increasing light output for enhanced safety. Additionally, LED lighting lasts three times longer than conventional fluorescent lighting, combined with Revolution Lighting’s market leading 10-year warranty, to provide significant long-term operational and maintenance cost savings.
“We are excited to expand the presence of our LED solutions, including key federal and military retrofit markets, to drive continued growth and incremental revenue for the company,” said Robert V. LaPenta, CEO and Chairman, Revolution Lighting. “Since the opening of our state of the art Simi Valley production facility, we continue to experience increased demand not only for military and federal customers, but also for municipalities, hospitals and schools who prefer U.S. manufactured products, including our industry-leading BAA and TAA compliant LED tubes, to aid them in achieving energy efficiency goals.”
The Buy American Act and Trade Agreements Act were both put in place to require federal agencies to first consider American-made products over foreign ones. Since 1975, almost 20% of the federal government’s annual energy expenditures and use has been on electricity, representing a significant market opportunity for Revolution Lighting to provide its energy efficient LED solutions.
“We are excited to expand the presence of our LED solutions, including key federal and military retrofit markets, to drive continued growth and incremental revenue for the company. Since the opening of our state of the art Simi Valley production facility, we continue to experience increased demand not only for military and federal customers, but also for municipalities, hospitals and schools who prefer U.S. manufactured products, including our industry-leading BAA and TAA compliant LED tubes, to aid them in achieving energy efficiency goals.”
CEO and Chairman of Revolution Lighting
Robert V. LaPenta
About Revolution Lighting Technologies Inc.
Revolution Lighting Technologies, Inc. is a leader in the design, manufacture, marketing, and sale of LED lighting solutions focusing on the industrial, commercial and government markets in the United States, Canada, and internationally. Through advanced LED technologies, Revolution Lighting has created an innovative lighting company that offers a comprehensive advanced product platform of high-quality interior and exterior LED lamps and fixtures, including signage and control systems.
Revolution Lighting is uniquely positioned to act as an expert partner, offering full-service lighting solutions through our operating divisions including Energy Source, Value Lighting, Tri-State LED, E-Lighting, All-Around Lighting and TNT Energy to transform lighting into a source of superior energy savings, quality light and well-being. Revolution Lighting Technologies markets and distributes its products through a network of regional and national independent sales representatives and distributors, as well as through energy savings companies and national accounts. Revolution Lighting Technologies trades on the NASDAQ under the ticker RVLT. For more information, please visit rvlti.com or connect with the Company on Twitter, LinkedIn and Facebook.
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Source: Revolution Lighting Technologies
Released July 18, 2017