NEW YORK, NY -- (Marketwired) -- 04/22/13 -- ForceField Energy Inc. ("ForceField") (OTCQB: FNRG), an international manufacturer, seller and distributor of energy products and solutions, today announced the successful completion of its LED lighting project at On-Site Analysis' ("OSA") Marlborough, Massachusetts facility which houses OSA's R&D and manufacturing operations. OSA is global provider of analytic testing technology and services. As a result of the successful installation, OSA has agreed to purchase the LED lighting used in the project, and enter into a sub-distribution agreement with ForceField to market and distribute ForceField's LED products to its customer base.
Jim Greer, Executive Vice President for OSA, commented, "Our decision to purchase the LED lighting in Marlborough to enter into a sub-distribution agreement with ForceField was based on the success of the LED installation and the clear benefits we will accrue from using LED lighting at our facility. ForceField provided OSA with a customized LED lighting solution that is ideal for our R&D and manufacturing facility as it provides energy efficiency, cost savings, reduced heat, and improved direct lighting. With more than 25 years of experience providing global customers with advanced analytic testing solutions that improve efficiency and reduce operating costs, we believe our customers which range from Fortune 500 companies to hundreds of municipalities and small to mid-size businesses can benefit from the same ForceField's high-quality cost-efficient LED products and solutions. We are ecstatic about the results because we have eliminated the direct lighting requirements for each work station. We look forward to working closely with ForceField to penetrate our core customers and markets using their LED lighting products and solutions."
Based on a recent study by Navigant Research, the lighting industry is on the verge of a large-scale shift away from the traditional technologies of fluorescent, incandescent, and high-intensity discharge (HID) lighting toward LEDs. Adoption rates of LED lighting are expected to soar in the coming years as the efficacy and quality of LEDs surpass those of competing technologies and as prices fall to enable reasonable payback periods. Navigant Research forecasts that annual worldwide revenue from LED lamps will grow from just over $1.5 billion in 2013 to more than $8.5 billion in 2021.
"The agreement with OSA is a testament to the quality of our products and services and the partners we have chosen to support our growth," stated Richard St-Julien, ForceField's Chairman. "Combining forces with a highly respected and recognized partner like OSA will enable us to accelerate our market penetration with municipalities across the US and global companies in the energy, heavy equipment, military, industrial and mining industries."
ForceField will also be presenting later this week on Friday, April 26, 2013 at the Financial Services Exchange, Inc. (FSX) conference in San Francisco. FSX is one of the oldest and most established investment conferences in the nation. www.fsxone.com
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