Revolution Lighting Technologies Selected by Hibbett Sports for LED Lighting Retrofit of 300 Retail Stores
Stamford, CT, November 14, 2016 – Revolution Lighting Technologies, Inc. (Nasdaq: RVLT) (“Revolution Lighting”), a global provider of advanced LED lighting solutions, today announced that it has been awarded an LED installation project with Hibbett Sports. The project includes the installation of 73,000 of Revolution Lighting’s industry leading LED tubes within 300 Hibbett Sports stores throughout the United States.
The Company worked with Amortized Energy Solutions LLC., in partnership with Interface Services Inc., to provide its Revolution Lighting LED tubes, replacing existing fluorescent lighting throughout each retail structure. The Company’s LED lighting was first installed at a Hibbett Sports retail store in Florida that successfully demonstrated the linear tube technology’s capability to improve energy efficiency by 67% over existing fluorescent lighting. With LED lighting lasting three times longer than conventional lighting, and the Company’s market leading 10-year warranty for its LED tube products, Hibbetts Sports will experience significant long-term operational and maintenance cost savings, while enhancing the shopping experience for its customers by achieving greater light output and visual acuity.
Hibbett Sports, Inc. operates sporting goods stores in small and mid-sized markets, predominantly in the South, Southwest, Mid-Atlantic, and Midwest. As of January 30, 2016, it operated a total of 1,047 retail stores in 33 states.
“Revolution Lighting’s premium quality LED solutions will allow Hibbett Sports to maximize our energy efficiency goals and provide superior light quality for our customers,” said Steve Kowal, VP of Construction & Property Management, Hibbett Sports. “We look forward to continuing our efforts, capitalizing on leading technologies to become more sustainable and energy-efficient, while providing healthy retail environments.”
“We are proud to be selected by Hibbett Sports, supporting a highly successful retail company through the adoption of our LED solutions to deliver energy-efficiency and superior light quality throughout its retail environments,” said Robert V. LaPenta, CEO and Chairman of Revolution Lighting Technologies. “The selection of Revolution Lighting by Hibbett Sports demonstrates our unique expertise and capability of our market leading LED lighting solutions to transform lighting into a source of superior energy savings, quality light and well-being for our customers.”
The U.S. retail market sector consist of 14.2 billion square feet that spends an average of $1.21 per square foot on electricity costs, totaling $17.2 billion annually. With up to 45% of total energy costs dedicated to lighting, the installation of high efficiency LED lighting solutions, which are 60% more efficient than other conventional lighting technologies, could save more than $4.6 billion annually, providing a significant opportunity for both U.S. retail companies and Revolution Lighting.
“The selection of Revolution Lighting by Hibbett Sports demonstrates our unique expertise and capability of our market leading LED lighting solutions to transform lighting into a source of superior energy savings, quality light and well-being for our customers.”
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 November 14, 2016