SOURCE: Axis Technologies Group, Inc.

October 22, 2007 07:00 ET

Axis Technologies, Inc. Continues Development Work on an Additional Line of Fluorescent Ballasts

US Buildings Consume 39 Billion Dollars in Energy Annually

LINCOLN, NE--(Marketwire - October 22, 2007) - Axis Technologies Group, Inc. (PINKSHEETS: AXTG) announced it has continued development work on their new line of addressable, load shedding ballasts. Using their affiliate membership with the California Lighting Technology Center (CLTC, www.cltc.ucdavis.edu) at the University of California, Davis, they have been working with the CLTC personnel to develop an additional line of Axis ballasts that would specifically address peak demand load shedding. Most utility companies charge their customers a surcharge or "peak demand" charge during those times of day when the load on the power plants are at the highest. Usually this means the power companies must start up higher cost generators, and/or buy power from the electrical grid at even higher rates. This ballast from Axis would allow the power companies the ability to reduce the lighting load for their customers during those peak demand periods by sending a signal to their subscriber customers.

Energy load shedding is in the forefront of the news. For example:

In a previous press release, Axis announced a green energy rebate program offered by New York State Energy Research and Development Authority (NYSERDA www.nyserda.com) valued at $37 million. NYSERDA's current five-year operating plan includes a total of $436.3 million in energy reduction incentives.

Virginia Tech has announced the "Energy Efficiency Partnership of Greater Washington (www.eep.ncr.vt.edu/)," a landmark initiative to tackle the problem of global warming by retrofitting existing buildings in the DC area with energy efficiency products designed to decrease energy use and significantly cut carbon emissions.

In an article in GreenerBuildings.com, Tilde Herrara relates a nation-wide initiative to reduce energy usage in older energy-inefficient existing buildings using guidelines developed by the US Green Building Council's LEED-EB (Leadership in Energy and Environmental Design for Existing Buildings) program.

Initiatives are underway to ban construction of coal-fired electricity plants in favor of renewable energy sources such as wind and bio-fuels.

Utilities nationwide are being mandated to reduce their greenhouse gas emissions, and they have expressed interest in providing rebates of up to a 100% to encourage energy conservation efforts.

"The tremendous, constant attention that is being given to energy saving measures, global warming, greenhouse gas emissions, and so forth, are evidence of the need for the new Axis load shedding ballasts to join the existing line of Axis dimming and daylight harvesting ballasts," stated Jim Erickson, President of Axis Technologies. "We are especially excited with this new ballast idea because our present automatic Dimming & Daylight Harvesting (DDH) ballast is most effective where there is significant ambient light. This new ballast could be installed in all areas which would greatly enhance our overall sales, and reduce lighting energy bills for the utility's customers; and at the same time, help the utility companies reduce their electrical load," added Erickson.

About Axis Technologies Group, Inc.

Axis Technologies Group, Inc. (www.axistechnologyinc.com) conducts its business through a 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 Dimming/Daylight Harvesting (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