Revolution Lighting Technologies Operating Division Completes Two LED Lighting Projects Totaling More Than $4.75 Million
Energy Source Completes LED Lighting Retrofits for Diverse Projects Including an Airport and a National Insurance Company
STAMFORD, CT -- (Marketwired) -- 11/19/15 -- Revolution Lighting Technologies (NASDAQ: RVLT), a leader in advanced LED lighting technology solutions, today announced that its operating division, Energy Source, recently completed two lighting retrofit projects, installing high efficiency LED lighting and control systems, totaling more than $4.75 million. Acquired by RVLT in August, Energy Source, LLC is a provider of turnkey energy savings solutions for LED lighting for the commercial, industrial, hospitality, retail, education, and municipal sectors.
Energy Source completed a $3.25 million multi-phased facility lighting retrofit at TF Green Airport, located in Warwick, Rhode Island, installing high efficiency LED lighting and control systems, including more than 1,500 of RVLT's G3 LED tubes, throughout interior and exterior areas including parking lots, parking garages, main terminal, terminal ramp, baggage and executive offices. Working closely with TF Green's facility management and executive teams, this program will reduce retrofit lighting energy usage by more than 60%, while providing superior lamp life, 2-3 times greater than antiquated lighting technology, to reduce ongoing maintenance costs. Energy Source provided comprehensive turnkey services and assisted TF Green airport with scope development, budgeting and project management, including procurement of project incentives, to reduce the return on investment to only 2.2 years.
"Energy Source moved through the project quickly working well with the different business entities we have at the airport," said Joe DaSilva, Assistant Vice President, Landside Maintenance. "The project improved the overall light levels and quality of light as well as reducing the overall maintenance of our lighting systems. The control systems installed helps us take advantage of day light harvesting and motion. Dimming the LED lights down during daylight hours and turning them off or dimming when not needed."
The second deal, totaling $1.6 million, involved a retrofit of four corporate office buildings for Amica Mutual Insurance Co., headquartered in Rhode Island. Energy Source provided full project services, including scope development, budgeting, incentive procurement and project management, as well as installing high-efficiency LED lighting and networked control systems. The project was completed in less than three months, and it will achieve a return on investment of 3.3 years after project incentives.
"We are excited to work with these two well-known organizations, supporting their energy efficiency programs through Energy Sources's full turnkey LED retrofit services to reduce operating expenses, support environmental initiatives and continually improve individual well-being within the working environment," said Robert V. LaPenta, CEO and Chairman of Revolution Lighting. "Energy Source continues to build relationships with industry leading corporations and organizations through its unique capabilities and resources, providing the necessary tools to assist with the installation of LED lighting across all facets of project development. This high quality service provides a critical conduit linking businesses with the extensive benefits of LED lighting."
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 November 19, 2015
