Energy Focus Awarded $3.4 Million LED Lighting Contract for the U.S. Navy Fleet
18 Fevereiro 2020 - 10:22AM
Energy Focus, Inc. (NASDAQ: EFOI), a leader in sustainable LED
lighting technologies, announced that the Company has been awarded
a contract valued at approximately $3.4 million to supply tubular
LED (TLED) lighting products to the U.S. Navy by Defense Logistics
Agency (DLA), a combat support agency in the U.S. Department of
Defense with more than 26,000 civilian and military personnel
throughout the world. The Company expects to deliver on the
contract beginning in the second quarter of 2020 with completion
expected by year-end.
“Energy Focus considers it a true honor and privilege to serve
the U.S. Navy,” said James Tu, Chairman & CEO of Energy Focus.
“This contract reflects our continuing success and commitment to
innovation to help improve the Navy’s sustainability profiles and
the lives of the people serving in the fleet. It also demonstrates
our strengthening leadership in providing advanced LED lighting
systems for world-class organizations with mission-critical
facilities such as the U.S. Navy.”
Mr. Tu continued, “Over the past year, in addition to focusing
on developing next- generation LED lighting and lighting control
technologies, we have been reengineering our LED lighting products
for reduced production costs across the board, while maintaining
the highest level of product quality and performance in every
market we serve. This contract award reflects the U.S. Navy’s
continuing commitment to TLEDs as the superior format for lighting
retrofit applications and its confidence in Energy Focus to provide
the most reliable and compelling TLED solutions.”
Since 2007, Energy Focus has been committed to
elevating the energy efficiency of the U.S. Navy fleet as well as
improving the living conditions of sailors by eliminating hazardous
materials from its lighting systems and enabling it to focus on
more important tasks than lighting maintenance. Since then, Energy
Focus has installed approximately 650,000 lighting products
including TLEDs, waterline security lights, explosion-proof globes
and berth lights, saving more than four million gallons of fuel and
200,000 man-hours in lighting maintenance annually.
“This significant contract award is a testament to the quality
and competitiveness of our products and solutions,” said Tim
Grindstaff, VP of Business Development. “The confidence the Navy
has put in our technologies and our company is humbling, and we
look forward to continuing our relationship as a trusted LED
lighting partner to the U.S. Navy as we support their efficiency,
sustainability and strategic goals across the fleet.”
About Energy Focus
Energy Focus is an industry-leading innovator of
energy-efficient LED lighting technologies and solutions. As the
creator of the first flicker-free original LED products on the U.S.
market, Energy Focus products provide extensive energy and
maintenance savings, and aesthetics, safety, health and
sustainability benefits over conventional lighting. Our customers
include U.S. and foreign navies, U.S. federal, state and local
governments, healthcare and educational institutions, as well as
Fortune 500 companies. Energy Focus is headquartered in Solon,
Ohio. For more information, visit our website at
www.energyfocus.com
Forward Looking Statements:
Forward-looking statements in this release are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Generally, these
statements can be identified by the use of words such as
“believes,” “estimates,” “anticipates,” “expects,” “seeks,”
“projects,” “intends,” “plans,” “may,” “will,” “should,” “could,”
“would” and similar expressions intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. These forward-looking
statements include all matters that are not historical facts and
include statements regarding our current expectations concerning
and, among other things, statements regarding the timing of when we
will deliver on our contract with DLA and the amounts we ultimately
will receive from the contract. By their nature, forward-looking
statements involve risks and uncertainties because they relate to
events and depend on circumstances that may or may not occur in the
future. Although we base these forward-looking statements on
assumptions that we believe are reasonable when made, we caution
you that forward-looking statements are not guarantees of future
performance and that our actual results of operations, financial
condition and liquidity, and industry developments may differ
materially from statements made in or suggested by the
forward-looking statements contained in this release. We believe
that important factors that could cause our actual results to
differ materially from forward-looking statements include, but are
not limited to: market conditions, our need for additional
financing in the near term to continue our operations; our
liquidity and refinancing demands; our ability to obtain
refinancing or extend maturing debt; our ability to continue as a
going concern for a reasonable period of time; our ability to
implement plans to increase sales and control expenses; our
reliance on a limited number of customers for a significant portion
of our revenue, and our ability to maintain or grow such sales
levels; our ability to increase demand in our targeted markets and
to manage sales cycles that are difficult to predict and may span
several quarters; the timing of large customer orders, significant
expenses and fluctuations between demand and capacity as we invest
in growth opportunities; our ability to compete effectively against
companies with lower cost structures or greater resources, or more
rapid development efforts, and new competitors in our target
markets; our ability to successfully scale our network of sales
representatives, agents, and distributors to match the sales reach
of larger, established competitors; market acceptance of our
high-quality LED lighting technologies and products; our ability to
remediate our material weakness and otherwise comply with our
obligations as a public company and under Nasdaq listing standards;
our ability to attract and retain qualified personnel, and to do so
in a timely manner; the impact of any type of legal inquiry, claim,
or dispute; general economic conditions in the United States and in
other markets in which we operate or secure products; our
dependence on military customers and on the levels and timing of
government funding available to such customers, as well as the
funding resources of our other customers in the public sector and
commercial markets; our reliance on a limited number of third-party
suppliers, our ability to obtain critical components and finished
products from such suppliers on acceptable terms, and the impact of
our fluctuating demand on the stability of such suppliers; our
ability to timely and efficiently transport products from our
third-party suppliers to our facility by ocean marine channels; our
ability to respond to new lighting technologies and market trends,
and fulfill our warranty obligations with safe and reliable
products; any delays we may encounter in making new products
available or fulfilling customer specifications; any flaws or
defects in our products or in the manner in which they are used or
installed; our ability to protect our intellectual property rights
and other confidential information, and manage infringement claims
by others; our compliance with government contracting laws and
regulations, through both direct and indirect sale channels, as
well as other laws, such as those relating to the environment and
health and safety; and risks inherent in international markets,
such as economic and political uncertainty, changing regulatory and
tax requirements and currency fluctuations, including tariffs and
other potential barriers to international trade.
Media Contact:
DGI Comm
212-825-3210
EnergyFocus@Dgicomm.com
Investor Contact:
Hayden IR
Cameron Donahue
646-536-7331
ir@energyfocus.com
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