ForceField's ESCO Subsidiary Designated as a Prime Certified Energy Efficiency Contractor by the State of Massachusetts Divis...
09 Fevereiro 2015 - 10:30AM
ESCO Energy Services ("ESCO"), a wholly-owned subsidiary of
ForceField Energy Inc. ("ForceField" or the "Company")
(Nasdaq:FNRG), a seller and distributor of energy products and
solutions, today announced its ESCO subsidiary has been designated
as a Prime Certified Energy Efficiency Contractor by the State of
Massachusetts Division of Capital Asset Management &
Maintenance ("DCAMM"). As a Prime Energy Efficiency Contractor,
ESCO can now serve as a lead bidder in undertaking larger (excess
of $100,000) projects. In addition, ESCO will now have direct
access to DCAMM's bid system with automatic notifications of
impending opportunities. Prior to being designated as a Prime
Contractor, ESCO had already contracted with DCAMM for more than
$1.5 million in comprehensive energy savings solutions across a
wide range of facilities.
DCAMM manages 5.5 million square feet of state buildings, with
millions more expected to move under DCAMM management in the coming
years. The agency is responsible for hundreds of millions in
capital expenditures on construction projects each year. Of
particular recent focus for DCAMM have been energy efficiency
initiatives. Working with the State's major utilities such as
National GRID and Northeast Utilities, DCAMM has undertaken
millions of dollars in energy efficiency projects at state owned
and leased facilities. These initiatives together with
aggressive mandated utility supported incentive programs have
contributed to the State's "number one ranking" in the nation for
energy efficiency as reported in a study conducted by the American
Council of an Energy Efficient Economy ("ACEEE") and the U.S.
Department of Energy. To implement projects, DCAMM has turned to
its well vetted certified contractors.
Mitch Barack, ESCO's President and CEO, stated, "We are honored
to have the opportunity to work even closer with the state, major
utilities, and diverse businesses to accelerate the implementation
of energy projects across the Commonwealth of Massachusetts. The
prime certified contractor designation provides ESCO with both
direct and greater access to larger projects representing millions
of dollars in potential revenue over the next several
years."
ESCO has already been supporting DCAMM's efforts as an approved
contractor with its participation in its Accelerated Energy Program
which enables its approved and trusted energy efficiency companies
to undertake projects under $100,000 without bid. To date,
ESCO has contracted with DCAMM for $1.5 million in comprehensive
energy savings solutions across a wide range of facilities. ESCO
has also participated in DCAMM's outreach efforts in expanding
working relationships with minority and women owned
sub-contractors. In the past, ESCO has supported these projects as
a sub-contractor, examples of which include Salem State College,
Massachusetts College of Liberal Arts and Springfield Technical
Community College campus wide lighting retrofit.
About ESCO Energy Services Company
ESCO Energy Services Company, Inc. is one
of the longest-standing lighting retrofit companies in
New England. As an industry pioneer, ESCO has an unparalleled track
record of successfully completing state-of-the-art lighting
conversions for federal, state, and municipal
clients throughout the region and across North
America. On a national level, ESCO is viewed as a company at
the forefront of designing and delivering innovative LED street
lighting and next-generation street light control solutions.
Go to www.goesco.com or www.lightingretrofit.com
About ForceField Energy Inc.
ForceField Energy Inc. and its subsidiaries comprise a global
company whose products and solutions focus on sustainable energy
solutions and improved energy efficiency. ForceField is a
distributor of LED and other lighting products for a number of
premier LED lighting manufacturers; and through its award-winning
subsidiaries, American Lighting and ESCO, have completed lighting
installations and retrofits as well as energy efficiency upgrades,
for numerous high profile concerns in a variety of industries.
ForceField is also a licensee of modular, heat recovery systems
that convert waste heat into clean electricity.
www.forcefieldenergy.com
Forward-Looking Statements
Except for statements of historical fact, the matters discussed
in this press release are forward looking. "Forward-looking
statements" describe future expectations, plans, results, or
strategies and are generally preceded by words such as "future,"
"anticipates" or "anticipated," "believes," "estimated" or
"estimates," "plan" or "planned," "expects" or "projected." These
forward-looking statements reflect numerous assumptions and involve
a variety of risks and uncertainties, many of which are beyond
ForceField's control that may cause actual results to differ
materially from stated expectations. Some of the factors that could
cause actual results to differ materially from the forward-looking
statements contained herein include (i) failure to obtain adequate
financing to achieve the Company's LED revenue targets and to
support working capital needs; (ii) successful installation and
efficacy of the Company's LED lighting products; (iii) expansion of
the Company's product offerings and services to additional states
across the U.S., (iv) generating additional revenue from the
Company's expected national expansion program, (v) competition
within the LED industry both domestically and internationally, (vi)
efficacy of ESCO's streetlight product offering, (vii) generating
millions of dollars of revenue as a result of achieving the
designation of a Prime Certified Energy Efficiency Contractor,
(viii) and other factors, without limitation, which are set
forth in documents we file from time to time with the Securities
and Exchange Commission, which are available at www.sec.gov. For a
written description of these factors, see the section titled "Risk
Factors" in the Company's Form 10-K for the fiscal year ended
December 31, 2013 and any updating information in subsequent SEC
filings. The Company disclaims any intention or obligation to
update these forward-looking statements whether as a result of
subsequent events or otherwise, except as required by law.
CONTACT: ForceField Energy Inc.
Richard ST Julien
(212) 672-1786
www.forcefieldenergy.com
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