SOURCE: Eco-Shift Power Corp.

January 15, 2015 07:00 ET

Eco-Shift Power Corp. (OTCQB: ECOP) Announces Full Retrofit of Farmazona Logistics Facility in Panama While Initiating Talks to Market Eco-Shift Power Throughout Panama and Latin America

CAMBRIDGE, ON--(Marketwired - January 15, 2015) - Eco-Shift Power Corp (OTCQB: ECOP) -- In October 2014, ECOP announced that it had signed a Letter of Intent (LOI) with Mbrace Energy Corp. and Farmazona S.A. to retrofit a warehouse facility in Panama with ECOP's NetZero Certified LED luminaires. ECOP moved forward with a preliminary product display in one of the Farmazona Logistics Warehouses. Due to the client's satisfaction with product quality and superior illuminance performance, Farmazona will commence with a full retrofit of their current facilities (over 400,000 sq. ft.) with a multi-mix order for ECOP's NetZero LED High Bay fixtures and T8 LED tubes.

Farmazona is the largest 3rd Party Logistics Operator in Central America and the Caribbean. Farmazona serves the Pharmaceutical, Hi-Tec, Automotive and Agrochemical industries, among others, with a wide variety of logistics services and results for the storage, distribution and trading of their products.

Management at Farmazona, on behalf of ECOP, has commenced talks with their affiliate retail electrical services corp. They believe the market is substantial and would like to provide ECOP's proprietary LED products through the current distribution chain in Panama, and commence talks with others through Latin America. The warehouse is located in the Colon Free Zone of Panama, an important hub for global shipping with a robust economy, high economic growth and facilitative environment for trade and investment. This distribution deal represents ECOP's push into Latin American markets where higher electricity costs are the norm, resulting in quick returns on investments.

ECOP's strategic decision to expand its distribution to these unique emerging markets was made after intensive market research, in collaboration with affiliated agencies of the Government of Canada including Trade Commissioner Offices and Export Development Canada (EDC). Market Research shows that Panama is very attractive to investors given its fully dollarized economy with no exchange risk, an absence of barriers to repatriation of funds, strong growth and a stable and sophisticated banking sector. To strengthen the argument that Panama welcomes international commerce, earlier this year the Canada-Panama Free Trade Agreement entered into force eliminating tariffs on the majority of Canadian exports destined for Panama.

"We came to learn that Panama's energy needs have increased significantly in recent years, with demand increasing 5-7% annually," states Francisco Reinoso, ECOP's LATAM Market Development Manager. "These increases in energy demands coupled with the ability of Canadians to bid on government procurement projects makes the Farmazona Logistics Center in Panama a great Latin American partner," Reinoso continues.

Within Panama itself, roughly 90% of the total energy produced in 2013, over 2.3 billion kilowatts, was consumed by the commercial sector, the primary target of ECOP's NetZero LED Highbay. ECOP is currently trying to capitalize on these targets and envelop themselves within Panamas stimulus package of large, strategic projects aiming to steer the economy from potential global downturn.

About Eco-Shift Power
Headquartered in Cambridge, Ontario, Eco-Shift Power Corp. (ECOP) is a high efficiency lighting retrofit specialist and manufacturer of LED lighting products, wireless energy management systems, and cloud based software platforms.

Core ECOP competencies include LED high bay lighting, wireless energy management systems that are plug-and-play and compatible with multiple technologies (HVAC, plug load, etc.), and software platforms that allow for automated demand management and demand response.

ECOP's business model includes three primary segments, which include:

• EPC (engineering/design, procurement, construction) of diversified and large scale lighting retrofit projects;

• OEM (original equipment manufacturer) of LED lighting and wireless energy management systems; and

• Energy Management and Demand Response, provided via long-term contracts and a Software-as-a-Service.

ECOP plans to continue growing the lighting retrofit business North America wide in key markets, while at the same time pushing for rapid national and international expansion of market share for its OEM product line. ECOP will then use its market share and extensive client roster for the sale of Energy Management and Demand Response services. 

ECOP plans to use strategic partnerships to accelerate its business model and growth objectives.

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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.

Contact Information

  • Contact:
    Investors Relations
    Eco-Shift Power Corp.
    1090 Fountain St. N.
    Cambridge, ON
    N5E 1A3