Revolution Lighting Technologies to Expand Simi Valley Facility to Support Business Growth for BAA/TAA Compliant LED Solution...
May 15 2018 - 6:32AM
Revolution Lighting Technologies, Inc. (NASDAQ:RVLT) (“Revolution
Lighting”), a global provider of advanced LED lighting solutions,
today announced a planned expansion of its facility in Simi Valley,
California, to support the increased demand for high performance
Buy American Act (BAA) and Trade Agreements Act (TAA) compliant LED
solutions. The plant, which opened in 2017, will double its
footprint to 125,000 sq. ft.
Since the opening of the facility, the Company
has continued to produce BAA and TAA compliant LED tubes for
installation and expects production to ramp up significantly.
Recent success has included prominent military bases, such as
Parris Island Marine Corps Base, which recently began PH II of an
existing ESPC with the addition of 25,000 LED tubes. Other
military and federal facilities including Tinker Air Force Base;
Veterans Administration Hospital Network VISN 21; Watervilet
Arsenal; BAE Systems and Battleship New Jersey have also ordered
similar BAA and TAA LED tube products.
The facility also plays a critical role in the
production of Revolution Lighting’s military spec grade LED tubes,
which received a key certification from the U.S. Navy in
2017. The Simi Valley facility received its first large U.S.
Navy order, and expects future shipments throughout 2018.
“We opened our state of the art Simi Valley
facility last year with the expectation that our BAA and TAA LED
tubes would provide a substantial opportunity for our business,
which has resulted in significant revenue growth, notably across
Federal, Military and Municipal opportunities,” said Robert V.
LaPenta, CEO and Chairman, Revolution Lighting. “As a result
of this success, we are expanding our facility to increase
capacity, positioning our company to support increased revenue
opportunities for not only LED tubes, but the anticipated demand
growth for BAA/TAA LED fixtures, which we believe can be a key
revenue driver moving forward.”
The Company expects to soon release its Eco Thin
Panels, Troffers, High Bays, and Wall Packs, all BAA/TAA compliant,
capable of reducing energy savings of 60%, versus antiquated
fluorescent and metal halide based technologies. These new
solutions will provide easy to install and boasting industry
leading lamp life and warranty, these newest LED technologies will
support Revolution Lighting’s effort to establish itself as the
leading provider of LED solutions to U.S. government agencies.
The Buy American Act and Trade Agreements Act,
were put in place, requiring 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.
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 http://www.rvlti.com/ and connect with the Company
on Twitter, LinkedIn and Facebook.
Cautionary Statement for Forward-Looking
Statements
Certain of the above statements contained in
this press release are forward-looking statements that involve a
number of risks and uncertainties, including statements about the
public offering, Revolution Lighting’s proposed use of proceeds and
statements relating to expectations regarding the completion of the
public offering. Such forward-looking statements are within the
meaning of that term in Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934.
Reference is made to Revolution Lighting’s filings under the
Securities Exchange Act for additional factors that could cause
actual results to differ materially, including the Risk Factors
described in Item 1A of our Form 10-K for the fiscal year
ended December 31, 2015. Revolution Lighting Technologies
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise. Readers are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those indicated in the forward-looking
statements as a result of various factors. Readers are cautioned
not to place undue reliance on these forward-looking
statements.
Investor Relations Contact:Amato and Partners, LLCInvestor
Relations Counseladmin@amatoandpartners.com
Media Contact:Matthew BretziusFischTank Marketing and
PRmatt@fischtankpr.com
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