Revolution Lighting Technologies Awarded $4 Million as Part of Recent Public Education LED Retrofit Projects
Company Continues to Provide High Efficiency LED Lighting Solutions to Reduce Operating Costs, and Improve Light Quality and Safety Throughout Public Schools Nationally
STAMFORD, CT -- (Marketwired) -- 02/08/17 -- Revolution Lighting Technologies, Inc. (NASDAQ: RVLT) ("Revolution Lighting"), a global provider of advanced LED lighting solutions, today announced that it has recently secured LED lighting contracts totaling approximately $4 million, including school districts within New Jersey, Connecticut and Rhode Island.
Revolution Lighting's operating divisions, Energy Source and Tri-State LED provided "turnkey" services that began with a comprehensive assessment to establish the most energy efficient program, installing Revolution Lighting's high performance LED tubes and Eco thin panel fixtures. These LED solutions deliver superior efficiency to reduce lighting energy use by more than 60%, while increasing light output for enhanced safety and higher quality learning environments for students. Additionally, its LED lighting lasts three times longer than conventional fluorescent lighting, combined with Revolution Lighting's market-leading 10-year warranty, to provide significant long-term operational and maintenance cost savings.
Revolution Lighting offers a broad line of high quality LED solutions, including tubes, Eco thin panels, troffer fixtures, high bays, area flood lighting and wall pack fixtures to address the various lighting requirements throughout primary and secondary education facilities. This includes hallways, classrooms, administrative areas, support spaces, and cafeterias, in addition to exterior applications such as parking, pedestrian walkways, and security and emergency lighting.
"These recent program wins, coupled with previous 2016 LED retrofit project awards among primary and higher education institutions, including Lehman College and Des Moines University, exceed $20 million, demonstrating our leadership in this important market," said Robert V. LaPenta, CEO and Chairman of Revolution Lighting. "We anticipate several additional awards near term in the Connecticut, Boston and New Jersey school systems as the school boards recognize the health, learning and financial benefits of LED lighting."
According to the Department of Energy, lighting is the second largest source of energy use in K-12 schools, behind only space heating and cooling. As cited throughout a U.S. Environmental Protection Agency report, school buildings are often able to achieve upwards of greater than 40% energy cost savings through lighting installations and retrofits. With approximately 98,000 public schools and 4,600 colleges and universities nationwide, energy efficient lighting solutions represent a tremendous market opportunity for Revolution 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 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 www.rvlti.com and connect with the Company on Twitter, LinkedIn and Facebook.
Source: Revolution Lighting Technologies
Released February 8, 2017