PowerSecure International, Inc. : PowerSecure Announces New LED Light Sales Totaling $15 Million to Three Major Retailers
02/06/2012 | 08:35am
PowerSecure International, Inc. (Nasdaq: POWR) today announced it has
received orders for new LED lights totaling $15 million from three major
retailers. The new orders are for PowerSecure's EfficientLights LED
lighting technology, and include each of its in-store product lines,
including reach-in case lights, walk-in freezer/cooler lights, and shelf
and canopy lights. The retailers are making these green technology
investments to improve the quality of light in their stores, reduce
their energy consumption by approximately 70%, eliminate
mercury-containing fluorescent lights, and extend their light life
five-fold.
PowerSecure's EfficientLights LED lighting brand is specifically
engineered for the unique needs of retailers, and to deliver an improved
quality of light to enhance the illumination of product displays and
create a better customer experience. Additionally, new research shows
that LED lights in retail food cases can also deliver bottom line
benefits to retailers by extending product shelf life, including meat
products, thereby reducing waste and increasing profit margins (see www.k-state.edu/today/announcement.php?id=1843).
Sidney Hinton, PowerSecure's CEO, said, "We are excited to announce
these new orders to serve three major retail chains with our LED
lighting products. Our lighting technology is designed to deliver
exactly what our customers want - lights that make their product
displays "pop", save energy, and reduce maintenance cost. We expect to
complete all of these sales in 2012. As we anticipated, these new orders
reflect retail customers' expanded budgets in 2012 for LED lighting
upgrades - a function of our expanded product line and the increasing
confidence that the economy is beginning to firm."
About PowerSecure
PowerSecure International, Inc. is a leading provider of Energy and
Smart Grid Solutions to electric utilities, and their commercial,
institutional, and industrial customers. PowerSecure's Energy and Smart
Grid Solutions businesses provide products and services in the areas of
Energy Efficiency, Interactive Distributed Generation, and Utility
Infrastructure. The Company is a pioneer in developing Interactive
Distributed Generation® systems with sophisticated, proactive
smart grid capabilities, including the ability to 1) forecast
electricity demand and electronically deploy the systems to deliver more
efficient, and environmentally friendly power at peak power times, 2)
provide utilities with dedicated electric power generation capacity to
utilize for demand response purposes, and 3) provide customers with the
most dependable standby power in the industry. PowerSecure also provides
utilities with transmission and distribution infrastructure construction
and maintenance services, and engineering and regulatory consulting
services. The Company's Energy Efficiency business provides customers
with energy efficient lighting technologies that deliver improved
quality of light, including its proprietary EfficientLights LED lighting
products for grocery, drug, and convenience stores, and its SecureLiteTM
and PowerLiteTM street lights for utilities and
municipalities which are available through its EnergyLite business unit.
Additional information is available at www.powersecure.com.
All forward-looking statements contained in this release are made
within the meaning of and pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are all statements other than statements of historical facts,
including but not limited to statements concerning the amount and timing
of the revenues associated with the new business discussed in this press
release; the Company's outlook, prospects and expectations for revenues,
net income, and E.P.S. results and growth generally; the anticipated
results of the Company's products, services, and technologies; and all
other statements concerning the plans, intentions, expectations,
projections, hopes, beliefs, objectives, goals and strategies of
management, including statements about other future financial and
non-financial items, performance or events and about present and future
products, services, technologies and businesses; and statements of
assumptions underlying the foregoing. Forward-looking statements are not
guarantees of future performance or events and are subject to a number
of known and unknown risks, uncertainties and other factors that could
cause actual results to differ materially from those expressed,
projected or implied by such forward-looking statements. Important
risks, uncertainties and other factors include, but are not limited to,
those risks, uncertainties and other factors identified from time to
time in the Company's most recent Annual Report on Form 10-K, as well as
in subsequent filings with the Securities and Exchange Commission,
including reports on Forms 10-Q and 8-K. Accordingly, there can be no
assurance that the results expressed, projected or implied by any
forward-looking statements will be achieved, and readers are cautioned
not to place undue reliance on any forward-looking statements. The
forward-looking statements in this press release speak only as of the
date hereof and are based on the current plans, goals, objectives,
strategies, intentions, expectations and assumptions of, and the
information currently available to, management. The Company assumes no
duty or obligation to update or revise any forward-looking statements
for any reason, whether as the result of changes in expectations, new
information, future events, conditions or circumstances or otherwise.
PowerSecure International, Inc.
Chris Hutter, 919-453-1760
Chief
Financial Officer
© Business Wire 2012
