SOURCE: Revolution Lighting Technologies

Revolution Lighting Technologies

February 17, 2016 07:37 ET

Revolution Lighting Technologies Recognized by National Grid With Five Awards for Energy Efficiency in 2015

Company Leads Energy Savings for Rhode Island and Massachusetts Businesses Within National Grid's 2015 Project Expediter Program; Wins Program Award for Most Energy Saved for 8th Straight Year

STAMFORD, CT--(Marketwired - February 17, 2016) - Revolution Lighting Technologies (NASDAQ: RVLT), a leader in advanced LED lighting technology solutions, today announced that its division, Energy Source, has been recognized with five energy efficiency awards by National Grid, one of the largest investor-owned energy companies in the world. This includes achieving the greatest total energy savings among the program's twenty project expediters for the eighth consecutive year. In addition to these awards, National Grid has endorsed Revolution Lighting's T5 "Uni-Fit" ballast ready LED tube and Thin Panel LED fixtures.

In recognition of Energy Source's exceptional work, the company was recognized at National Grid's award event on February 5th, 2016, for the following categories:

  • Highest kilowatt hours saved: Energy Source accounted for 26% of the total 2015 program energy savings achieved by all 20 contracted vendors; two and a half times greater than the next closest contract vendor.
  • Exceeding 100% of goal: Energy Source achieved 112% of its energy savings goal for 2015.
  • Completing highest number of projects: Energy Source completed 143 of the 687 projects for the National Grids Project Expediter program in 2015.
  • Most comprehensive and/or Custom Projects: Of Energy Source's 143 projects, 60 were comprehensive energy efficiency opportunities addressing multiple disciplines simultaneously.
  • Most Gas Therms Saved: Energy Source accounted for 21% of total 2015 therms saved from all 20 vendors.

"We are proud to be recognized as the leading contributor of the National Grid Project Expediter Program for the eighth consecutive year, and look forward to our continued program success in 2016," said Mike Lemoi, President, Energy Source. "As a project expediter, we partner with our customers to maximize their energy savings through a simple and seamless experience. We manage all project phases, providing no cost energy efficiency assessments, address material selection, bidding, incentive procurement and implementation."

National Grid's program success is expected to continue through the recent approval of the Massachusetts Energy Efficiency plan (2016 - 2018) by the Massachusetts Department of Public Utilities (DPU). This approval secures $2.4B in energy efficiency funding and a set of programs over the next three years that expects to save over forty billion kWh of electricity. As a trusted contributor of energy savings to National Grid's program since 1998, this signals a key opportunity for continued success by Energy Source. 

The benefits of National Grid's program provides customers with a convenient solution for implementing a variety of energy efficiency measures, offering incentives to deliver the greatest return on investment. Project expediters are encouraged to use leading efficiency products endorsed by National Grid, including Revolution Lighting's T5 "Uni-Fit" ballast ready LED tube and Thin Panel LED fixtures to help drive significant energy savings for its customers, reducing retrofit lighting energy use by 60%.

"Participation in National Grid's Expediter Program continues to be a tremendous market opportunity and central to the strategic growth of Revolution Lighting," said Robert V. LaPenta, CEO and Chairman of Revolution Lighting. "We are proud to be recognized as the leading energy reduction expediter for the eight consecutive year, combined with National Grid's endorsement of our T5 "Uni-Fit" ballast ready tubes and Thin Panel fixtures. These achievements are a testament to the quality, experience and capability of our team and market leading LED solutions."

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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