STAMFORD, CT--(Marketwired - July 07, 2016) - Revolution Lighting Technologies, Inc. (NASDAQ: RVLT) ("Revolution Lighting"), a global provider of advanced LED lighting solutions, today announced that one of its key distributors, Brightness LLC, has purchased 175,000 shares of the Company's common stock, worth approximately $1 million as part of a private placement effective June 27, 2016. The $1M stock purchase from Revolution Lighting further strengthens the long term partnership, while also validating Brightness' confidence in the Company's industry-leading LED technologies.
Brightness LLC, with U.S. headquarters located in Miami, FL, in addition to branches located in Argentina, Costa Rica and Uruguay, is a leading distributor of LED lighting products throughout Florida, Mexico, South America, and Central America. Brightness has enjoyed a strategic partnership with Revolution Lighting Technologies for more than four years, including the installation of its LED technologies throughout Trinidad Ramos Mejia Hospital in Argentina. Completed in December 2015, this project expanded Revolution Lighting's footprint within international markets while also fulfilling the energy efficiency needs of a significant healthcare facilities developer and manager in Argentina. Brightness continues to successfully address multi-family residences including the provision of LEDs solutions for one of the most exclusive condominiums, Chateau Fendi, at Surfside, Florida, in addition to Villas at Harbor Isles in Dania, Florida, and recent projects in San Jose, Costa Rica.
"Brightness' investment in Revolution Lighting Technologies speaks to their confidence in our continued ability to deliver market leading LED solutions," said Robert V. LaPenta, CEO and Chairman, Revolution Lighting. "We have enjoyed a successful relationship with Brightness as a distributor of our products, and we look forward to continuing our efforts, expanding our footprint both nationally and internationally."
Brightness LLC's key management has more than twenty-five years of competitive experience in the Latin American market for technology and lighting, employing thirty specialized engineers to validate the best long-term solutions, addressing energy savings and environmental requirements for each project. With successful project wins in industries spanning commercial office, industrial, parking, infrastructure/roadway, education, hospitality, retail, and healthcare, Brightness has been a crucial distribution partner for Revolution Lighting throughout their strategic partnership.
"Our relationship with Revolution Lighting Technologies has been extremely positive as we continue to secure projects within key markets where their LED solutions can be implemented. Revolution's LED solutions are able to satisfy all of our customer's needs, which is essential during this critical time period within the LED market that is poised to take off and experience extensive growth. This is why Brightness LLC has decided to make this additional new investment, and continue to further leverage our strong partnership." said Carlos Martinangeli, President and Founder, Brightness LLC.
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.