SOLON, Ohio, May 11, 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 five additional lighting energy services contracts totaling $2.5 million, bringing to a total of $19 million contracts awarded to Energy Focus' new business unit.
Two contracts are to upgrade the lighting at two universities, which will involve the retrofit and replacement of hundreds of fixtures. The remaining contracts are to upgrade lighting in an elementary school district, the lighting in a hospital, and several buildings in an army base. All of the new projects are located in the Southeast. SRC has completed the audit of the existing facilities, inventoried their lighting systems, created an approved energy savings design, and will now procure the materials and oversee the lighting installations. The five public sector contracts, through four leading ESCOs are expected to be completed before the end of the year.
Rob Wilson, VP of SRC, commented, "The new projects show just how broad the opportunity for savings through the implementation of energy efficient lighting is. While 2010 is proving to be a banner year for SRC, there's plenty of opportunity to fuel a sustained demand for energy efficient lighting for years to come."
Joseph Kaveski, CEO, Energy Focus, Inc., added: "While it's great to see these contracts, it's even better that Rob and his team are building a backlog of work that will sustain our operations well beyond 2010. Clearly, the American Recovery and Reinvestment Act is just beginning to provide stimulus money for energy efficient lighting which should increase demand for our energy efficient lighting solutions for years to come."
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 longstanding 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 US 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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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.