Energy Focus Awarded $1.7 Million Contract to Provide LED Lighting for Four New Navy Ships
16 Março 2020 - 9:24AM
Energy Focus, Inc. (NASDAQ: EFOI), a leader in sustainable LED
lighting technologies, has been awarded a contract valued at
approximately $1.7 million to supply a U.S.-based shipbuilder with
LED lighting tube and fixture products. The products, which are
U.S. Navy-approved, will be installed in four new navy ships
through the Foreign Military Sales (FMS) program that allows U.S.
allied countries to purchase defense articles and services. The
Company expects to deliver on the contract beginning in the second
quarter of 2020 with completion expected by the end of 2021.
“This contract is from a new shipbuilder
customer who values the innovation, performance, quality and
reliability of our Navy products,” said James Tu, Chairman &
CEO of Energy Focus. “This news follows our recent $3.4 million
order to provide LED lighting products for existing U.S. Navy ships
and signifies Energy Focus’ expanding leadership in U.S. and allied
Navy markets, for both retrofit and new shipbuilding
applications.”
“This contract demonstrates that Energy Focus is
not only the go-to LED lighting supplier for Navy retrofit, but is
also well-positioned for the global ship construction market,
serving both military and non-military customers,” said Tim
Grindstaff, VP of Business Development. “Energy Focus has an
outstanding track record of being U.S. Navy’s primary LED lighting
partner since 2007. With shipbuilding activities for U.S. and
allied navies expected to increase over the coming years, we look
forward to continuing to expand our relationships and bringing our
advanced technologies and products to serve this prestigious
market.”
About Energy Focus
Energy Focus is an industry-leading innovator of
sustainable 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. Since
2007, Energy Focus has installed approximately 650,000 lighting
products across US Navy fleet, 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. 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 Comm212-825-3210EnergyFocus@Dgicomm.com
Investor Contact:
Hayden IRCameron
Donahue646-536-7331ir@energyfocus.com
Energy Focus (NASDAQ:EFOI)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Energy Focus (NASDAQ:EFOI)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024