SOURCE: Axis Technologies Group, Inc.

February 26, 2009 07:39 ET

Daylight Harvesting Ballasts From Axis Technologies Helping to Contribute to Michigan's Energy Reduction Goals

Governor Granholm's Initiatives to Champion Energy Saving Solutions Yielding Impressive Results; Michigan State Government Cuts Electricity Use by 23 Percent, Saving Taxpayers $60 Million Over Past Three Years

LINCOLN, NE--(Marketwire - February 26, 2009) - Axis Technologies Group, Inc. (PINKSHEETS: AXTG), a green technology designer, manufacturer and marketer of a proprietary line of energy saving and daylight harvesting electronic dimming ballasts for the commercial lighting industry, is pleased to announce that the company's energy efficient ballasts have been installed in several Michigan state office buildings and have helped contribute to reductions in energy use. In the past three years, Michigan Governor Jennifer M. Granholm's investment in energy saving technologies has cut electricity use by 23 percent and saved taxpayers over $60 million. The Michigan Department of Management and Budget (DMB) is administering the projects were instrumental in achieving the significant savings.

In 2003, Governor Granholm issued a series of executive directives aimed at cutting energy use in state-owned and state-managed facilities. Since then,the Department of Management and Budget instituted energy audits in all its buildings, installed energy-saving technology, and implemented conservation methods to realize quantifiable reductions in energy consumption.

In a press release from the Michigan governor's office last year, Governor Granholm said, "We have implemented a number of efficiencies to reduce energy use in state government-owned facilities. At a time when energy costs are going up, our costs have gone down because of some common sense practices coupled with new products and technologies."

In the same press release, the State of Michigan noted, "The DMB projects that have cut energy usage include installation of software that integrates building heating, ventilation and air conditioning systems, lighting control, elevator monitoring, and energy management." And if reference to the installation of the Axis Technologies ballasts, highlighted the "installation of daylight harvesting ballasts in several state buildings. These fixtures control lights near windows. On sunny days, the lamps emit less light than on cloudy days. Lighting levels are consistent and unnoticed by occupants."

In the State of Michigan address delivered on February 3, 2009, Governor Granholm's announced that by the year 2020, Michigan will reduce its use of imported energy and reliance on fossil fuels for generating electricity by 45 percent through increasing the use of renewable energy sources, energy efficiency, and other new technologies. Governor Granholm said, "Our state government has cut electricity use by 23 percent and saved taxpayers some $60 million over the past three years." Governor Granholm continued, "In the next year alone, we've set a goal of ...installing energy efficiency and renewable technology in 1,000 buildings."

Jim Erickson, President of Axis Technologies, Inc., commented, "Axis has several on-going projects in buildings owned by the State of Michigan, and we are proud that our daylight harvesting ballasts are contributing to meeting the energy-reduction goals implemented by Governor Granholm."

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About the Axis Ballast:

A standard "ballast" is an electronic component that regulates voltage in light fixtures. Axis Technologies Group, Inc. has developed an innovative new ballast with the aim of expanding daylight harvesting into mainstream 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 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 keeps 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 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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