SOURCE: Eco-Shift Power Corp.

Eco-Shift Power Corp.

October 29, 2014 07:00 ET

Eco-Shift Power Corp. (OTCQB: ECOP) Wins Contract to Retrofit Farmazona S.A. Logistics Warehouse in the Republic of Panama

CAMBRIDGE, ON--(Marketwired - October 29, 2014) - Eco-Shift Power Corp. (OTCQB: ECOP) (ECOP) has signed a Letter of Intent (LOI) with Mbrace Energy Corp. and Farmazona S.A. to retrofit a warehouse facility in Panama with ECOP's proprietary LED high bay lighting fixtures. ECOP is a preferred lighting solutions provider for a variety of high bay lighting components for warehouses, industrial manufacturing plants, box stores, ice arenas and many more. This LOI represents ECOP's push into Latin America markets where higher electricity costs are the norm, and will build off of Sun Industries project experience in Puerto Rico. ECOP recently acquired Sun Industries (Sun) of Santa Ana California, and plans to expand on Sun's market share in the US and Latin America. 

Farmazona is the largest Third 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.

Farmazona is pleased to have the opportunity to be the first location in Central America to utilize ECOP's ground breaking, low cost LED high bay with the Radium - Wireless Light Management System. "We at Farmazona strive for and deliver high quality logistic storage facilities, and ECOP's high bay lighting with wireless controls exemplifies our commitment to utilizing technologically advanced sustainable systems. It is in keeping with our goals of providing the best quality service in the industry", states Mr. Giovanni Ferrari, President of Farmazona Logistics.

"This is an ideal industry for ECOP's LED high bay with Radium Wireless Light Management System to deliver significant savings and operational efficiencies" says Jim Hughes, ECOP's CFO. "We are thrilled with this opportunity and what it means to Panama and ECOPs entry into the Central/South American markets. In so many countries, the cost of power is rising exponentially and we believe we can make a difference not just to Farmazona but the many other organizations in these areas of high energy cost", continues Hughes.

The LED Retrofit Project will generate a cost reduction of over 40% annually in lighting energy costs, as well as considerable savings in maintenance. Together with Mbrace Energy Corp., ECOP will implement a Turn-Key Solution to manage every aspect of the lighting retrofit project from lighting audits to installation. In addition, ongoing maintenance, servicing, and full back-office support are added benefits available to clients.

ECOP's retrofit of the Farmazona logistics warehouse in Panama highlights their strategic push towards markets in Latin America. ECOP's recent acquisition of Sun & Sun Industries Inc. ("Sun") further exemplifies the desire to gather market space, not just in America, but globally. Sun, with over 20 years in the lighting retrofit industry, already has experience in completing complex large-scale projects throughout the US and Puerto Rico.

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:
    Eric Primeau
    519 650-9506
    Eco-Shift Power Corp.
    1090 Fountain St. N.
    Cambridge, ON
    N5E 1A3