Revolution Lighting Technologies Awarded $5.2 Million as Part of Recent Multi-Family Project Development
Recent wins include Billingsley Construction's latest apartment complex, utilizing LED lighting for 85% of lighting needs
STAMFORD, CT -- (Marketwired) -- 01/31/17 -- Revolution Lighting Technologies (NASDAQ: RVLT), a leader in advanced LED lighting technology solutions, today announced that its division, Value Lighting, recently secured several lighting contracts totaling $5.2 million.
As part of the Company's recent multi-family project awards, Revolution Lighting builds on previous lighting contract awards with Billingsley Construction, to provide lighting solutions for its latest project, Sloane Street, located in Carrollton, TX. The project consist of approximately 85% LED lighting solutions to be installed throughout apartment units, corridors, common areas, and exterior locations, including exits and site lighting.
"We are excited to continue our relationship with Billingsley Construction, and their latest multi-family project, Sloan Street," said Robert V. LaPenta, CEO and Chairman of Revolution Lighting. "Our recent large multi-family contract awards, as part of our overall multi-family development throughout the U.S., showcases Revolution Lighting's strong national footprint to successfully partner with owners and developers to deliver high quality, high efficiency and value oriented lighting solutions."
In 2016, a new supply of multi-family units entered the market at levels not seen since the 1980s, and the sector is expected to experience robust growth throughout 2017 and beyond, signaling continued lighting opportunities for Revolution Lighting as it is uniquely positioned with operations in Texas, Georgia, Washington DC, Arizona, and California.
Lighting accounts for 12% of residential energy use, and we are seeing a rapid advance in the incorporation of high efficiency LED lighting solutions, which is up to 85% more efficient than conventional lighting, including incandescent or halogen. Over the past year Revolution Lighting has seen the usage of LED lighting throughout multi-family increase from 5% to over 40%, and believes this trend will continue as developers and property managers look to reduce energy and maintenance expenses, while increasing the quality of lighting throughout their projects.
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.
Investor Relations Contact:
Amato and Partners, LLC
Investor Relations Counsel
admin@amatoandpartners.com
Media Contact:
Matthew Bretzius
FischTank Marketing and PR
matt@fischtankpr.com
Source: Revolution Lighting Technologies, Inc.
Released January 31, 2017
