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
About ForceField Energy, Inc.
ForceField Energy is a global company whose products and solutions focus on renewable energy and improved energy efficiency. ForceField's subsidiary, TransPacific Energy Inc. ("TPE") has patented a technology which uses proprietary multiple component fluids that are environmentally sound, non-toxic and non-flammable. Custom formulated mixtures efficiently capture and convert heat directly from the heat source at temperatures ranging from 75 degrees F to 950 degrees F. TPE's technology offers applications at broader temperature ranges than other energy recovery systems. TPE's systems in certain applications reduce operating and maintenance costs thereby significantly improving return on capital expenditures thus making the purchase of waste heat recovery systems which previously yielded nominal savings, economically viable.
ForceField is the exclusive distributor in the U.S., Canada, Mexico, Latin America, and the Caribbean of Light Emitting Diode ("LED") commercial lighting products and fixtures for a premier LED manufacturer, Lightsky. An LED is a semiconductor device which converts electricity into light. The LED light is considered "green" because of the absence of dangerous chemicals and an accompanying significant reduction in energy consumption depending on the application, from 50% to 70% of traditional lighting products.
ForceField is a distributor for PowerOneData International, Inc. a company that provides AdvancedMetering Infrastructure and ASLM solutions to the international energy markets, reducing energy resource consumption and its negative impact on the environment and public health
ForceField is also a significant manufacturer and distributor of trichlorosilane ("TCS") in China. TCS is a specialty chemical primarily used in the production of polysilicon, which is an essential raw material in the production of solar cells for PV panels that convert sunlight to electricity. TCS is considered to be the first product in the solar PV value chain before polysilicon, and is also the principal source of ultrapure silicon in the semiconductor industry. For additional information regarding ForceField Energy Inc. or Transpacific Energy, Inc., please visit the companies' websites at www.forcefieldenergy.com www.transpacenergy.com, www.lightsky-led.com or contact Richard St-Julien at (212) 672-1786.
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," "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 the company'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) the Company's ability to generate significant revenues from its waste heat technology and LED lighting segments, (ii) the Company's ability to obtain adequate financing to achieve its business plan (iii) and other factors without limitation which are detailed in documents we file from time to time with the Securities and Exchange Commission, which are available at www.sec.gov.
ProActive Capital Resources Group, LLC
Most Popular Stories
- Chobani Counters Competition With Expanded Lineup
- Pope Francis, Huge Crowd Joyously Celebrate Easter
- Automakers Turn to China to Fuel Sales Growth
- Iran Denounces U.S. Ruling to Sell Property
- NASA's Space Station Robonaut Finally Getting Legs
- Ohio Couple Married 70 Years, Die 15 Hours Apart
- Nevada Range Showdown Draws Armed Supporters
- Report: Iran VP Says Row Over Reactor Resolved
- Confusion, Anger as Sunken Ferry's Relatives Wait
- Putin: No Blocks to Boosting Relations With West