SOLON, Ohio, Jan. 19, 2010 (GLOBE NEWSWIRE) -- Energy Focus, Inc. (Nasdaq:EFOI), a leader in providing energy efficient lighting solutions, today announced that its turnkey lighting retrofit division, Stones River Companies, LLC (“SRC”) was recently awarded two lighting energy services contracts totaling $2.1 million. These contracts are with two premier public sector energy services companies (“ESCOs”) to upgrade the lighting in 60 buildings for a Tennessee municipality as well as for relighting several buildings on a Kentucky U.S. Army base.
Rob Wilson, VP of SRC commented, “The retrofit of a municipal building is a special opportunity. It allows us to reduce energy and maintenance cost for the city and provide better lighting for the building’s occupants and visitors, which includes all of us. As for the army base, this initial contract is for the first phase of a multi-phase project. The retrofit will help the base reduce its energy consumption and maintenance costs while improving the buildings’ overall lighting quality. Both contracts are expected to be completed before the end of the year.”
Joseph Kaveski, CEO, Energy Focus Inc. added: “We are pleased to announce the additional $2.1 million more in contracts landed by Rob and his team. These new public sector contracts are just the beginning of many more contracts that we see coming in 2010. Partnering with the government to reduce energy consumption is not only the right thing to do for our country but also a very promising growth opportunity for Energy Focus, Inc. We expect public sector projects to be a major focus for our new lighting solutions business in 2010 especially as stimulus funding begins to reach the project level.“
About Energy Focus, Inc.
Energy Focus, Inc. is a leading provider of turnkey energy efficient lighting solutions. These solutions provide energy savings, aesthetics, safety and maintenance cost benefits over conventional lighting. Our long-standing relationship with the U.S. Government includes numerous research and development projects for the DOE and DARPA, creating energy efficient LED lighting systems for the U.S. Navy fleet and the next generation Very High Efficiency Solar Cell. Customers include supermarket chains, the U.S. government, state and local governmental agencies, retail stores, museums, theme parks and casinos, hotels, swimming pool builders and many others. Company headquarters are located in Solon, OH, with additional offices in Nashville, TN, Pleasanton, CA, and the United Kingdom. For more information, see www.energyfocusinc.com.
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About Stones River Companies, LLC
SRC is wholly owned subsidiary of Energy Focus, Inc., recently acquired from TLC Investments, LLC. As a lighting solution and design firm it provides services to both public and private sector clients focusing on the design and implementation of energy efficient lighting measures. SRC has been offering lighting retrofit projects in support of Energy Services Companies serving the public sector existing building market since 2002.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding our future business outlook, our products, our solutions, and our work with leading customers including governmental agencies. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Actual results may differ materially from the results predicted. For more information about potential factors that could affect Energy Focus financial results, please refer to the Company's SEC reports, including its Annual Reports on Form 10-K and its quarterly reports on Form 10-Q. These forward-looking statements speak only as of the date hereof. Energy Focus disclaims any intention or obligation to update or revise any forward-looking statements.