Revolution Lighting Technologies Awarded $2.25M for Recent LED Retrofit Projects Among Public Education Facilities
Company Continues to Provide High Efficiency LED Lighting Solutions to Reduce Operating Costs and Improve Light Quality Within Public Schools
STAMFORD, CT -- (Marketwired) -- 06/14/16 -- Revolution Lighting Technologies (NASDAQ: RVLT), a leader in advanced LED lighting technology solutions, today announced that it has recently been awarded LED lighting contracts within public education facilities totaling $2.25M. Recent awards include New Jersey public school systems of Chester, Chatham and Verona, in addition to the public school systems of Jim Thorpe and Pottsville in Pennsylvania.
LED lighting retrofits among public schools continue to be a leading energy efficiency opportunity, installing Revolution Lighting's LED tubes that are 60% more efficient and last three times longer than existing fluorescent lighting, while providing a market leading 10 year warranty. Retrofit projects address interior spaces including school hallways, classrooms, administrative, support spaces, cafeterias and some gymnasiums, in addition to exterior lighting requirements such as parking, pedestrian walkways, security and emergency lighting.
"Integration of LED lighting throughout public school systems is a proven method to stay ahead of market in terms of technology adaptation that utilizes high efficiency solutions to reduce operating expenses and long term maintenance costs," said Melissa Simmons, Business Administrator and Board Secretary, Chester, NJ Public School Systems. "LED lighting offers a quick return on investment for schools to create more sustainable and energy efficient facilities, while providing more productive and healthy learning environments for students and faculty."
"As the leading LED provider among public education, we are excited to partner with our latest schools to incorporate our high efficiency LED lighting solutions," said Robert V. LaPenta, CEO and Chairman of Revolution Lighting. "Our continued work within public education speaks directly to the knowledge and expertise of Revolution Lighting to maximize economic performance, exceed environmental initiatives and enhance safety and well-being."
These projects continue Revolution Lighting's success within the education sector. Recently the company has been awarded public school projects in NY, NJ and CT totaling $10.6M. In addition, the company completed the Ideal Academy charter school and the retrofit of Lehman College and Des Moines University in 2016. This success is expected to continue as both primary and higher educational facilities aim to replace antiquated lighting systems with energy efficient LED technologies, capitalizing on available incentives and low interest financing opportunities to significantly reduce project payback.
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 nationwide, energy efficient lighting solutions is significant, and represents a tremendous market opportunity for Revolution Lighting Technologies and its T8 and T5 LED tube technology.
As a leading provider of LED solutions among public education, Revolution Lighting partners with each school, and its approved installation contractor, to provide key services, including scope development and material selection to ensure each project maximizes its goals. For more information about how Revolution Lighting can support your lighting retrofit project, please contact 1-877-578-2536 or email at firstname.lastname@example.org.
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.
Source: Revolution Lighting Technologies
Released June 14, 2016