Company continues successful penetration of public education market in 2017, with total project wins exceeding $8M; continues to provide high efficiency LED lighting solutions to reduce operating costs, and improve light quality and safety throughout public schools nationally.
Revolution Lighting Technologies Selected by City of Stamford, CT for Public School LED Retrofit Project
Stamford, CT, June 13, 2017 – Revolution Lighting Technologies, Inc. (NASDAQ: RVLT) (“Revolution Lighting”), a global provider of advanced LED lighting solutions, today announced that it has been selected by The City of Stamford, CT to provide high efficiency LED lighting solutions for a retrofit project throughout the Stamford public school system.
Revolution Lighting’s operating division, Tri-State LED, helped to secure the project, working closely with Con Edison Solutions, the project’s installer, utilizing Revolution Lighting’s high performance LED tubes. These LED solutions deliver superior efficiency to reduce lighting energy use by more than 65%, while increasing light output for enhanced safety and higher quality learning environments for students. 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.
Year to date, including the City of Stamford project, Revolution Lighting has won contracts exceeding $8M in the public education market, including in New Jersey, Connecticut, Rhode Island, Massachusetts and Florida. Including these recent wins, the Company has now won more than $28 million in public education work since the start of 2016, further establishing itself as a leader in the industry.
“We are extremely proud to have been selected to serve the schools and students of our home city of Stamford, helping deliver significant energy and maintenance cost savings that can be reinvested into the schools, while ensuring high quality lighting for its classrooms,” said Robert V. LaPenta, CEO and Chairman of Revolution Lighting. “The $28 million of awards Revolution Lighting has received since the beginning of 2016 demonstrates our leadership in this important market.”
Revolution Lighting offers a broad line of high quality LED solutions, including tubes, Eco thin panels, troffer fixtures, high bays, area flood lighting and wall pack fixtures to address the various lighting requirements throughout primary and secondary education facilities. This includes hallways, classrooms, administrative areas, support spaces, and cafeterias, in addition to exterior applications such as parking, pedestrian walkways, and security and emergency lighting.
According to the Department of Energy, lighting is the second largest source of energy use in K-12 schools, behind only space heating and cooling. As cited throughout a U.S. Environmental Protection Agency report, school buildings are often able to achieve upwards of greater than 40% energy cost savings through lighting installations and retrofits. With approximately 98,000 public schools and 4,600 colleges and universities nationwide, energy efficient lighting solutions continue to represent a tremendous market opportunity for Revolution Lighting.
“We are extremely proud to have been selected to serve the schools and students of our home city of Stamford, helping deliver significant energy and maintenance cost savings that can be reinvested into the schools, while ensuring high quality lighting for its classrooms. The $28 million of awards Revolution Lighting has received since the beginning of 2016 demonstrates our leadership in this important market.”
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.
Investor Relations Contact:
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Source: Revolution Lighting Technologies
Released June 13, 2017