Revolution Lighting Technologies Continues Penetration of Higher Education Market With Recent Projects
Installations at Iona College and Johnson & Wales Showcase Proactive Choice by Universities to Improve Energy Efficiency on Campus While Creating a Healthier and More Productive Learning Environment for Students
STAMFORD, CT -- (Marketwired) -- 10/29/15 -- Revolution Lighting Technologies (NASDAQ: RVLT), a leader in advanced LED lighting technology solutions, today commented on its continued strategy of emphasis on the higher education market as an area for growth, as evidenced by recent work both underway and completed with two well known universities.
A recently completed project with Johnson & Wales University in Providence, Rhode Island retrofitted 300,000 sq. ft. of campus buildings with RVLT's market leading G3 LED linear tube technology. RVLT's division, Energy Source, provided comprehensive turnkey solutions, managing all phases of the project to install 3,000 RVLT LED tubes to reduce lighting energy use within retrofit areas by 60% to save more than 700,000 kWh with a positive impact on future maintenance costs. Johnson & Wales University will realize a return on investment in just under 2.5 years.
A second project, underway since the start of 2014, involves the ongoing phased installation of RVLT LED products throughout multiple campus buildings for Iona College in New Rochelle, New York. This program, completed in conjunction with RVLT's division, Tri-State LED, provided a comprehensive package of LED lighting solutions, including more than 2,000 RVLT LED tubes, retrofitting campus parking garages, open parking areas, residence halls, gymnasium and cafeteria. In addition, all campus exterior light poles were retrofit with high efficiency/high output RVLT LED lamps. It is expected that Iona College will see an average return on investment of 23 months for all projects.
"We are excited to be working with two proud academic institutions such as Johnson & Wales and Iona College, providing them with Revolution Lighting's LED solutions to creating more productive learning environments for their students," said Robert V. LaPenta, CEO and Chairman of Revolution Lighting. "Lighting represents 31% of $7B annual energy and utility expenses for higher education within the U.S. RVLT's LED lighting products offer a critical opportunity for the 4,700 U.S. colleges and universities to save $1.2B annually by improving lighting efficiency more than 60%, while providing superior photometrics, eliminating UV radiation and visible lamp light depreciation to increase motivation, positively impact mental well-being, and improve concentration and productivity for students."
"One of Iona's first LED projects was to upgrade our parking structure from T8 fluorescent to LED lighting," said Mark Murphy, Director of Facilities, Iona College. "Iona realized a 50% utility cost savings for the retrofit of this parking structure, achieving a return on investment of 18 months. Iona has realized similar savings on all subsequent projects as we continue to convert our campus to LED."
RVLT's market leading LED products combine superior efficiency and life expectancy, including RVLT's LED lamps at 70,000 hours, compared to 15,000 hours for their linear fluorescent counterpart, results in a significant decrease in lamp-life maintenance costs. LED lighting does not require a warm-up period, can be easily dimmed to various levels, and is controllable through occupancy sensors and software based automation control systems.
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 technology and aggressive new product development, Revolution Lighting has created an innovative, multi-brand, lighting company that offers a comprehensive advanced product platform. The company goes to market through its Seesmart brand, which designs, engineers and manufactures an extensive line of high-quality interior and exterior LED lamps and fixtures; Lighting Integration Technologies Inc., which sells and installs Seesmart products; Lumificient, which supplies LED illumination for the signage industry; Relume Technologies, a leading manufacturer of outdoor LED products; Sentinel, a revolutionary, patented and licensed monitoring and smart grid control system for outdoor lighting applications; and Energy Source, a full service turnkey solutions provider and installer of LED technology. Revolution Lighting Technologies markets and distributes its products through a network of 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 additional information, please visit www.rvlti.com.
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Source: Revolution Lighting Technologies
Released October 29, 2015
