NEW YORK, NY -- (Marketwire) -- 03/12/13 -- ForceField Energy Inc. ("ForceField") (OTCQB: FNRG), an international manufacturer, seller and distributor of energy products and solutions, and PowerOneData International, Inc.("PowerOneData"), today announced the signing of a cross-distribution agreement whereby each company will represent and sell each other's energy efficiency products and solutions in the United States, Canada, Mexico, and Latin America. PowerOneData will initially focus on distributing the LED products and solutions in conjunction with its Automated Street Light Management (ASLM) system, and ForceField will focus on the distribution of the PowerOneData's smart meters, Genii advanced Database Management Software and other related products and software.
PowerOneData provides Advanced Metering Infrastructure (AMI) and ASLM solutions to the international energy markets, reducing energy resource consumption and its negative impact on the environment and public health. PowerOneData's AMI system ingenuity was designed for implementation by utility companies, enabling low-cost, real-time data capture and retrieval capabilities for monitoring millions of fixed residential, commercial and Industrial energy meter endpoints. Smart meters, in concert with a meter data management software system, not only assists utilities in reducing transmission distribution losses, but also in the recovery of revenue and management of peak load capacities, reducing generation expense and operating costs. PowerOneData currently has contracts internationally valued at more than $600 million.
Worldwide smart meter shipments surpassed 20.6 million units in the fourth quarter of 2012, representing year-over-year growth of 182.7% and a 33.9% increase over the third quarter of 2012, according to the IDC Energy Insights Worldwide Quarterly Smart Meter Tracker.
"The cross-distribution agreement with PowerOneData further demonstrates the strength and quality of our current LED products and services, and the growing market need for new and complementary energy efficiency solutions," said Richard St-Julien, ForceField's Chairman, "This agreement provides a new potential revenue growth driver for the Company including the ability to expand our portfolio with complementary products, as well as further increasing our distribution network to address a broader customer base in our core geographic markets."
Mr. St-Julien concluded, "We are already actively pursuing a multi-million dollar smart metering request for proposal, immediately demonstrating the potential synergy and opportunity of this relationship. The combined solution will enable the monitoring of power consumption, theft of power and faulty lamps with immediate notification of problems. As customers continue to look for innovative energy efficiency solutions that reduce operating costs, increase return on investment and are more environmentally sound, we are confident we can deliver strong growth over the coming years."
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