SOURCE: Revolution Lighting Technologies

Revolution Lighting Technologies

March 30, 2017 07:37 ET

Revolution Lighting Technologies Awarded Contract for LED Retrofit of Battleship New Jersey Museum & Memorial

Company's high performance Buy American Act Compliant LED tubes installed into world-renowned battleship turned museum; LED solutions improve lighting energy use by 72%

STAMFORD, CT--(Marketwired - March 30, 2017) - Revolution Lighting Technologies, Inc. (NASDAQ: RVLT) ("Revolution Lighting"), a global provider of advanced LED lighting solutions, today announced that its operating division, Tri-State LED, has been awarded a contract for the LED retrofit of The Battleship New Jersey Museum & Memorial. The retrofit includes the installation of Revolution Lighting's high performance Buy American Act (BAA) compliant LED tubes throughout the historic battleship that will reduce lighting energy use by more than 72%.

"This is tremendous work by the Battleship New Jersey and Revolution Lighting to produce an energy efficient way to keep one of our most famous warships proudly lit," said Gary Finger, Ombudsman, Board of Public Utilities, Office of Clean Energy. "The people of New Jersey will be privileged to enjoy the ship as a historical landmark and museum as it operates in an energy efficient manner."

"We are proud of our work to help make the Battleship New Jersey, one of our state's prized landmarks, more energy efficient while also providing a more attractive light to all of its visitors," said Philip Rowan, Executive Director, Battleship, NJ. "We could not be happier with the work and lighting solutions from Revolution Lighting, and are excited for the opportunity to show off our new look."

The lighting retrofit for this iconic memorial, which currently serves as a museum and event space, located in Camden, New Jersey, began with a comprehensive assessment by Tri-State LED to establish the most energy efficient program, replacing the ship's antiquated T-12 fluorescent lighting with Revolution Lighting's high performance BAA Compliant LED tubes. The superior efficiency of LED lighting will also increase light output to enhance safety for museum patrons and staff. Additionally, LED lighting lasts three times longer than conventional fluorescent lighting, combined with Revolution Lighting's market leading 10-year warranty to provide significant long-term operational and maintenance cost savings.

"We are honored for the opportunity to work with one of the renowned battleships in the history of the United States Navy, enabling it to achieve its energy efficiency goals," said Robert V. LaPenta, CEO and Chairman, Revolution Lighting. "Selection by the Battleship New Jersey is a testament to the capabilities of our high efficiency LED solutions, manufactured in our state-of-the-art facilities, located in Simi Valley, California. The facility is focused on BAA compliant LED solutions to address both seafaring vessels and facilities, as we continue to position the company to support the military and federal markets."

This project continues Revolution Lighting's penetration into supporting LED lighting retrofit programs for seafaring vessels, such as recreational ships and military opportunities, including the U.S. Navy. Earlier this year the company successfully completed the testing requirements in accordance with stringent U.S. Navy guidelines for its two (2) foot T8 LED tube to become certified for the military standard, and be ready for use in the U.S. and International Navy fleet.

The Department of Defense (DoD) spent $16.7 billion on energy use in 2015, and the U.S. Navy consumes 29% of this usage. The Department of Defense's efforts to integrate LED lighting throughout its facilities to achieve ongoing energy efficiency goals represents a significant opportunity for Revolution Lighting.

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 LED technologies, Revolution Lighting has created an innovative lighting company that offers a comprehensive advanced product platform of high-quality interior and exterior LED lamps and fixtures, including signage and control systems. Revolution Lighting is uniquely positioned to act as an expert partner, offering full service lighting solutions through our operating divisions including Energy Source, Value Lighting, Tri-State LED, E-Lighting, All-Around Lighting and TNT Energy to transform lighting into a source of superior energy savings, quality light and well-being. Revolution Lighting Technologies markets and distributes its products through a network of regional and national 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 more information, please visit http://www.rvlti.com/ and connect with the Company on Twitter, LinkedIn and Facebook.

Cautionary Statement for Forward-Looking Statements

Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties, including statements about the public offering, Revolution Lighting's proposed use of proceeds and statements relating to expectations regarding the completion of the public offering. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Reference is made to Revolution Lighting's filings under the Securities Exchange Act for additional factors that could cause actual results to differ materially, including the Risk Factors described in Item 1A of our Form 10-K for the fiscal year ended December 31, 2015. Revolution Lighting Technologies undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements.

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