SOURCE: Axis Technologies Group, Inc.

October 17, 2007 07:30 ET

Axis Technologies Receives $250,000 Purchase Order From California's Energy Innovation Group

LINCOLN, NE--(Marketwire - October 17, 2007) - Axis Technologies Group, Inc. (PINKSHEETS: AXTG), a Green technology company that designs, manufactures and markets a proprietary line of energy saving and daylight harvesting electronic dimming ballasts for the commercial lighting industry, announced today that the company has received a purchase order from Energy Innovation Group (EIG) for $250,000. Axis received an initial purchase order from EIG in excess of $55,000 on October 11, 2007.

In September, Axis announced that the company had signed an agreement with Energy Innovation Group, headquartered in Culver City, CA, to develop a retro-fit market in California for the Axis Dimming/Daylight Harvesting (DDH) ballast. Sid Pelston, managing partner of EIG, forecasted sales of $4,000,000 in Axis products over the next 15 months, with a target upwards to $28,000,000 nationally over the next 36 months.

"EIG is a partner in the League of California Cities, and along with many notable league partners such as Southern California Edison, Pacific Gas & Electric, San Diego Gas & Electric and Siemens, the company intends to focus on reducing energy costs and conserve energy use throughout California," said Sid Pelston of Energy Innovation Group.

"EIG's specific focus is to introduce the Axis ballast to all cities in California who have experienced rate increases, in many cases by as much as 25%, over the last two years. We are very pleased to have already received our first orders for the Axis ballast from the city of El Segundo, California," added Pelston.

"Energy Innovation Group has shown they are committed to the full-scale promotion and marketing of Axis' products," said Jim Erickson, president of Axis Technologies Group, Inc. "We expect to receive many additional purchase orders from EIG as well as many of our other sales associates as our products continue to prove themselves in the energy savings sector."

About Energy Innovation Group

EIG is a supplier of innovative and emerging technologies and is contracted by various electric utility companies and energy commissions to bring these technologies to the commercial marketplace. EIG develops energy programs for a multitude of unique client facilities including property management companies, trade associations, major corporations, major building owners and municipalities. These programs and strategies include a complete building analysis to find potential energy-efficient and cost-effective savings within a facility through technological advances, lighting and HVAC upgrades, control and sensor systems, power management, maintenance savings, window films, and indoor air quality. The installation of innovative technologies, such as the Axis ballasts, capitalizes in both key areas of reducing expenses and conserving energy use.

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About the Axis Technologies Ballast

Axis Technologies Group, Inc. has developed an innovative new ballast, an electronic component that regulates voltage in fluorescent lighting, that focuses on 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. (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.

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