CRS Electronics

CRS Electronics

September 20, 2010 08:00 ET

CRS Electronics Announces Rollout of Lighting Installation for Best Buy Stores

WELLAND, ONTARIO--(Marketwire - Sept. 20, 2010) - CRS Electronics Inc. ("CRS") (TSX VENTURE:LED), an inventor, developer and manufacturer of LED lighting, is pleased to announce today that Best Buy Co, Inc. ("Best Buy"), a multinational retailer of technology and entertainment products, has made a commitment to replace 35,000 50 watt halogen lamps with the 6 watt CRS LED MR16. The replacement lamps are expected to generate an 80% reduction in electrical demand and electrical consumption for Best Buy.

The initial rollout of 3,150 replacement lamps will be delivered this month to 50 Best Buy locations to highlight digital camera displays and Magnolia Home Theater system rooms where the capability of dimming lights is essential to provide customers with optimal real-life settings.

"Best Buy is one of the leaders in making green technology decisions to reduce environmental impact. After testing our LED MR16 product in their retail environment, the decision to reduce energy while maintaining quality was easy," said Scott Riesebosch, President of CRS Electronics. "CRS created a new standard in fixture compatibility to accommodate Best Buy's specific requirements. Our new driver technology allows our lamps to maintain superior performance and dim on electronic transformers and industry standard dimmers. Electronic transformer powered light fixtures represent a significant portion of the market, which, until now have not been able to utilize LEDs without flickering."

The CRS replacement lamps are at the forefront of technological advancements for LED lighting which include patent pending superior hardware and software components. The products also have a unique driver system technology that allows CRS LED MR16 lamps to be dimmable while still maintaining best-in-class colour rendering and lumen output. The Company's automated production lines make their LED lights truly customizable providing the right solution to fit the specific needs of both general lighting and high-end lighting replacement installations.

About CRS

CRS Electronics Inc., an Energy Star and Lighting Facts partner, is a leader in the emerging, rapidly-growing market of high efficiency light-emitting-diode ("LED"), or, solid state lighting ("SSL"). The principal activities of CRS include the development, manufacture and sale, primarily in North America, of indoor and outdoor lighting such as LED replacement lamps, LED streetlights, exterior LED warning lights on school buses, child safety systems for school buses and contract manufacturing of LED circuit boards. CRS is a well-established supplier to both the school bus industry and the LED contract manufacturing industry, providing a stable and growing revenue source. CRS plans to be a major supplier of LED light engines for a variety of applications to be developed by CRS on its own and in conjunction with its customers. Several of CRS's customers use CRS LED MR16 lamps to replace up to 50 watt halogen MR16s.

Certain statements contained in this news release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may relate to this news release and other matters identified in CRS's public filings, CRS's future outlook and anticipated events or results and can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts and include, but are not limited in any manner to, those with respect to capital and operating expenditures, economic conditions, availability of markets for products, availability to develop and manufacture products, availability of sufficient financing, receipt of approvals, satisfaction of escrow requirements, satisfaction of closing conditions, obtaining debt financing for capital expenditures, and any and all other timing, development, operational, financial, economic, legal, regulatory and/or political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other CRS filings, and include the effect of capital market conditions and other factors on capital availability and the ability to complete additional closings; sufficient working capital for development and operations, access to adequate services and supplies, availability of markets for products, commodity prices, foreign currency exchange rates, interest rates, access to capital markets and other sources of financing and associated cost of funds, availability of a qualified work force, availability of manufacturing equipment, no material changes to the tax and regulatory regime and the ultimate ability execute its business plan on economically favourable terms. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other CRS filings at and other unforeseen events or circumstances. Other than as required by law, CRS does not intend, and undertakes no obligation to update any forward-looking information to reflect, among other things, new information or future events.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information