SOURCE: Axis Technologies, Inc.

November 14, 2006 10:36 ET

Axis Technologies Becomes Preferred Energy-Efficient Supplier With San Diego Gas & Electric

LINCOLN, NE -- (MARKET WIRE) -- November 14, 2006 -- Axis Technologies Group, Inc. (PINKSHEETS: AXTG) is pleased to announce that on September 11, 2006, San Diego Gas & Electric invited the company to make a presentation at their energy-efficiency conference and join the ranks as one of the company's ten Preferred Energy-Efficient Suppliers.

The growing emphasis in energy-efficiency awareness in California has led to rebates of as much as $60 per ballast for dimming/daylight harvesting systems such as those provided by Axis Technologies, Inc. In addition, California Title 24 mandates that all new buildings and those undergoing lighting upgrades that have over 30,000 square feet, must use daylight harvesting in their design. Two billion dollars has been allocated for these rebates and incentives by the State of California over the next three years.

"Because of these factors, we feel potential sales of the Axis system in California could be tremendous and should lead to millions of dollars in revenue for our company. We expect other states will soon follow suit as California has proven to set the bar in the area of Green initiatives," said Jim Erickson, President of Axis.

For further information on Axis Technologies, Inc., please visit www.axistechnologyinc.com.

About San Diego Gas & Electric:

San Diego Gas & Electric (SDG&E) is a subsidiary of Sempra Energy, a leading energy management company providing electricity, natural gas and value-added products and services. SDG&E is a regulated public utility that provides safe and reliable energy service to 3.3 million customers through 1.3 million electric meters and more than 800,000 natural gas meters in San Diego and southern Orange Counties. Sempra Energy achieved record financial results in 2005 and its return to investors has outperformed the S&P 500 index and the S&P 500 Utilities Index over the past five years. More information on SDG&G and Sempra Energy may be found at www.sdge.com.

About the Axis DDH Ballast

A "ballast" is an electronic component that regulates voltage in fluorescent lighting. Axis Technologies Group, Inc. has developed an innovative new ballast with the aim of expanding daylight harvesting into mainstream fluorescent lighting applications. The patented Axis Dimming/Daylight Harvesting Ballast is a new technology that transforms the ballast, a once standard lighting industry staple, into a dynamic energy saving system that can reduce lighting energy costs by up to 70%. The Axis DDH 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 that may be harvested from available windows and sunlight. The Axis DDH Ballast avoids "over-lit" conditions that increase energy costs by keeping lighting "tuned" to the desired level in a designated area.

About Axis Technologies Group, Inc.:

Axis Technologies Group, Inc. conducts its business through this wholly owned subsidiary Axis Technologies, Inc., a Delaware corporation headquartered in Lincoln, Nebraska. 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 company's target market is small to large commercial users of fluorescent lighting including office buildings, wholesale and retail buildings, hospitals, schools, and government buildings. In 2002, Underwriters Laboratory (UL) approved Axis products for sale in both the United States and Canada. The Axis DDH ballast is priced competitively and is the only daylight harvesting ballast system that can be marketed as a replacement for a standard ballast.

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:
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    Charles Garcia
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