SOURCE: Revolution Lighting Technologies

Revolution Lighting Technologies

February 03, 2016 07:37 ET

Revolution Lighting Engages The Cohen Group to Advise on Potential New Business Development With the U.S. Navy

Highly Credentialed Advisory Team to Deliver Expert Knowledge and Industry Experience for Revolution Lighting to Pursue LED Retrofit Contract Opportunities Among Navy Ships and Shore Facilities

STAMFORD, CT--(Marketwired - February 03, 2016) -  Revolution Lighting Technologies (NASDAQ: RVLT), a leader in advanced LED lighting technology solutions, today announced it has retained The Cohen Group as a specialty advisor to assist the company in its continued penetration of military branches, such as the U.S. Navy. The Cohen Group, managed by a highly credentialed team of former senior military officials, including a Secretary of Defense, Vice-Chair of the Joint Chiefs of Staff and U.S. Coast Guard Admiral, will provide strategic advisement and industry guidance to position Revolution Lighting for the participation in future LED retrofit contract bid opportunities.

This decision marks a critical next step by Revolution Lighting, building on previous successes including the installation of 17,000 of its LED tubes within dry cargo/ammunition ships of the Military Sealift Command. In August 2015, the U.S. Navy announced that it will begin allowing the installation of LED tube lighting throughout global shore facilities including administrative buildings, athletic facilities, street lights, and parking garages facilities in addition to its fleet. Revolution Lighting has continued to be well positioned, pursuing increased regulatory certification requirements including the gaining of a Washington Laboratories Certification for its G3 12 watt LED tube for product utilized on navy ships and facilities.

"Revolution Lighting has a great history of delivering market leading LED lighting solutions across all industries, including for military and federal installations," said Admiral Jim Loy. "The Cohen Group will focus its strategic and intellectual assets, leveraging our extensive industry experience to allow Revolution Lighting to compete and successfully achieve its goals."

The Cohen Group's project team includes:

  • Secretary William S. Cohen, Chairman & CEO, and former Secretary of Defense, U.S. Senator, and U.S. Representative
  • General Joseph Ralston, Vice Chairman of The Cohen Group and former Vice Chairman of the Joint Chiefs of Staff
  • Admiral James Loy, Cohen Group Senior Counselor, and 45-year veteran of public service including a stint as Deputy Secretary of Homeland Security
  • General Paul Kern, Cohen Group Senior Counselor and former Commanding General of the Army Material Command
  • Joseph Benkert, Cohen Group Vice President and former Assistant Secretary of Defense for Global Security Affairs
  • James Bodner, Cohen Group Co-President and former Counselor to the Secretary of Defense
  • Mark Brunner, Cohen Group Vice President and former Navy pilot and Senior Advisor to Senator Mark Warner

"We are excited to collaborate with The Cohen Group, who represent a tremendous market partner and key next step in the strategic growth of Revolution Lighting," said Robert V. LaPenta, CEO and Chairman of Revolution Lighting. "The Cohen Group provides the authoritative knowledge and leading experience through its highly regarded team of experts, to help achieve our goals, offering a high quality, low cost LED tube solution for U.S. Naval ships and facilities, delivering superior energy savings, quality light, safety and well-being."

The Department of Defense (DoD) consumes 92% of the energy used by U.S. federal government agencies, spending $20.4 billion in 2012. The U.S. Navy consumes 28% of this energy use by the DoD, and according to Secretary of the Navy, Ray Mabus, installation of LED tube lighting within a single U.S. Navy ship constitutes a 3% total energy reduction, capable of delivering $150M in total fleet energy savings. With the decision to integrate this lighting technology throughout shore facilities, LED lighting's 60% greater efficiency than fluorescent lighting represents a significant cost savings opportunity for the U.S. Navy. In addition, Revolution Lighting's lightweight, all plastic LED tubes are extremely durable, require almost no maintenance, while providing superior light output and 70,000-hour lamp life, makes them an ideal solution for even the most rugged of military environments.

About Revolution Lighting Technologies, Inc.

Revolution Lighting Technologies, Inc. is a leader in the design, manufacture, marketing, and sale of LED lighting solutions focusing on the industrial, commercial and government markets in the United States, Canada, and internationally. Through advanced technology and aggressive new product development, Revolution Lighting has created an innovative, multi-brand, lighting company that offers a comprehensive advanced product platform. The company goes to market through its Seesmart brand, which designs, engineers and manufactures an extensive line of high-quality interior and exterior LED lamps and fixtures; Lighting Integration Technologies Inc., which sells and installs Seesmart products; Lumificient, which supplies LED illumination for the signage industry; Relume Technologies, a leading manufacturer of outdoor LED products; Sentinel, a revolutionary, patented and licensed monitoring and smart grid control system for outdoor lighting applications; and Energy Source, a full service turnkey solutions provider and installer of LED technology. Revolution Lighting Technologies markets and distributes its products through a network of independent sales representatives and distributors, as well as through energy savings companies and national accounts. Revolution Lighting Technologies trades on the NASDAQ under the ticker RVLT. For additional information, please visit www.rvlti.com.

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