CAMBRIDGE, ON--(Marketwired - August 26, 2014) - Eco-Shift Power Corp (OTCQB: ECOP)
Eco-Shift Power (ECOP), issued the following letter to shareholders.
Dear Eco-Shift Power Corp. Shareholders,
I would like to update you with exciting progress on our business strategy and highlight some of the successes expected for the remainder of 2014. Our business strategy has been focused on three key market differentiators, which include our low-cost LED high bay, our Wireless Light Management System, and our software platform for Demand Management and Automated Demand Response. Based on over a decade of experience, I am confident that these three differentiators are going to drive success for ECOP. At the same time we have been developing new sales channels as an OEM and forming strategic alliances with industry leaders, such as Sharp.
ECOP operations have had an increased focus on product development in 2014, which is reflected in increased Q2 operating costs. We appreciate shareholder understanding as we focus on product development and make the investments needed to capitalize on a significant market opportunity.
Revenue is anticipated to increase significantly through the latter half of 2014 as new revenue streams come on line. ECOP's innovative and low-cost LED high bay is expected to gain increasing market share through the latter half of 2014. Based on market analysis and customer feedback, our new LED high bay is expected to drive significant revenue growth as users of legacy technologies such as High Intensity Discharge (HID) products make the switch to ECOP's competitively priced high bay LED line. The technological advantages, longer life, and greatly increased energy savings of LED versus HID make the switch to LED an obvious choice at competitive price points. We expect sales to be increased significantly due to our new wireless light management system "Radium LM," which puts ECOP at the forefront of wholesale market transition to "smart facilities" with wireless and cloud-based controls and automation. ECOP is also close to launching "Radium DR," our Automated Demand Response software platform that will provide additional revenue from utility funded programs.
Our entire business strategy is ultimately focused on saving businesses money, providing options to generate additional revenue through participation in Demand Response programs, and providing better lighting services. As such, I am proud to announce that earlier this month ECOP was awarded a high profile project to replace the existing legacy HID fixtures at a hockey arena in Cambridge Ontario. ECOP's high bay LED product line was chosen for its superior quality, longevity, energy efficiency, and an unsurpassed light output that meets the strict requirements of a major sporting facility. The project energy savings are so impressive that total project costs are forecasted to be paid off in 1 year.
I am extremely excited about the future of ECOP and wanted to thank all shareholders for their continued support.
President and CEO
Eco-Shift Power's Lighting Solutions and Energy Management services are enjoyed by a broad client base that includes Mattel Inc., Thyssen Krupp, and Parmalat.
About Eco-Shift Power
Headquartered in Cambridge, Ontario, Eco-Shift Power Corp. (ECOP) develops best-in-class commercial/industrial lighting products and wireless energy management technologies. ECOP also provides complete solution assessment and implementation. As an emerging Smart Building and energy management facilitator, ECOP procures, assembles, sells and distributes high-efficiency lighting products along with other integrated energy management solutions. Including online monitoring and verification reporting tools, direct load controls, activity monetization instruments, and demand response. All are delivered via Software-as-a-Service (SaaS).
Core ECOP competencies include LED expertise, microprocessor/transmitter/wireless capability -- with IP addressability. This creates an intelligent Lighting System and Sustainability Management service platform that includes five areas for client revenue generation or costs savings:
- reducing electrical load during peak pricing
- management of demand response programs
- scheduling of lighting zones and system optimization
- enhanced security
- maintenance and management
Learn more at http://eco-shiftpower.com/
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the offered shares or any other securities, nor shall there be any sale of such shares or any other securities in any province or state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.