SOURCE: Axis Technologies Group, Inc.

May 03, 2010 10:21 ET

Axis Technologies, Inc. Announces Year to Date Shipments of Daylight Harvesting Ballasts Valued Over $500,000

LINCOLN, NE--(Marketwire - May 3, 2010) -  Axis Technologies Group, Inc. (PINKSHEETS: AXTG), a green technology designer, manufacturer and marketer of a proprietary line of energy-saving daylight harvesting electronic dimming ballasts for the commercial lighting industry, announced today that the company has fulfilled purchase orders worth over $500,000 since the beginning of 2010. The company has shipped ballasts for a number of Federal projects, commercial buildings, a community college and the United States Coast Guard.

Jim Erickson, President of Axis Technologies, said, "Since the start of this year, we have been very encouraged not only by the increased level of interest in our daylight harvesting ballasts, but the actual level of converting that interest into sales. As we have noted in the past, there has been many corporations and government agencies that have expressed a commitment to 'going green', but did not follow through with the budgeting necessary to fulfill that commitment. What we are seeing now is the interest developing into decision -- with our orders finally increasing and interest from distributors and end users up substantially. Judging by our high probability prospect pipeline, we are looking forward to a very strong second quarter."

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About Axis Technologies Group, Inc. (

Axis Technologies Group, Inc., through its wholly owned subsidiary, Axis Technologies, Inc., designs, manufactures and markets a proprietary line of energy-saving and daylight harvesting electronic dimming ballasts for the commercial lighting industry. The patented Axis Dimming/Daylight Harvesting Ballast is a new technology that transforms the standard ballast into a dynamic energy saving system that can reduce lighting energy costs by up to 70%. The company's target market is small to large commercial users of fluorescent lighting to include office buildings, wholesale and retail buildings, hospitals, schools, and government buildings. The Axis Ballast utilizes an individual photo sensor to automatically adjust the amount of electrical current flowing to the light fixture and then dims or increases lighting in conjunction with the amount of available sunlight. The Axis Ballast avoids "over-lit" conditions that increase energy costs by harvesting and utilizing free daylight from windows or skylights. As the amount of available daylight fluctuates, the Axis Ballast automatically keeps lighting "tuned" to the desired level in a designated area ( Underwriters Laboratories has approved Axis products for sale in both the United States and Canada. The Axis Dimming/Daylight Harvesting ballast is priced competitively and is the only daylight harvesting ballast system that can be marketed as a replacement for a standard ballast. Numerous utilities have included the Axis ballast in their rebate programs offered to their commercial and government customers.

Safe Harbor

Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.

Contact Information

  • Contact:
    Investor and Media Relations for Axis Technologies