ALISO VIEJO, CA--(Marketwire - Jul 2, 2012) - WEPOWER Ecolutions Inc. (the "Company"), a wholly owned subsidiary of Premier Holding Corp. (
"We have an additional reason to celebrate our nation's Independence this week as we are thrilled to announce our relationship with Independence LED Lighting, Forged in America™ LED Tubes products and its great management team led by Charlie Szoradi," said Kevin Donovan, CEO of WEPOWER Ecolutions Inc. "We are experiencing unprecedented demand from our commercial clientele for high quality commercial grade LED lighting solutions and as the McKinsey & Company report, 'Lighting the way: Perspectives on the global lighting market' cites, the total LED market in 2010 was $10 billion and forecasts growth to $54 billion in 2016, representing a 5.4-times increase and a compounded annual growth rate (CAGR) of 32 percent. Independence LED Tubes provide us with a clear advantage as an integrator of clean energy solutions in our clients' commercial buildings with their superior quality, thousands of LED Tubes combinations, 5-year warranty and American-made product."
"I couldn't be happier to work with Kevin and his team at WEPOWER," said Charlie Szoradi, founder, chairman and CEO of Independence LED Lighting, LLC. "Our LED Tube products line up very nicely with what WEPOWER has put together for their commercial clients. We're encouraged by the potential of WEPOWER to add to the ever increasing high-growth rate of our sales. Independence LED has experienced a 300 percent increase in sales from 2010 to 2011, which is well above the LED industry average. The increase began with our decision to move manufacturing from China to America ensuring American jobs and American quality and now continues to expand in 2012 as our partners like WEPOWER integrate with financial partners to provide American businesses the opportunity to reduce operating expenses with little or no upfront capital. We're truly looking forward to this new business opportunity with WEPOWER."
Size of the LED Tube Market:
According to the U.S. Department of Energy, there are over 2.3 billion fluorescent tubes in American ceilings. Approximately 600 million of the fluorescent tubes burn out and are discarded each year in America. The estimates on the adoption level of LED tubes may be conservative given the massive opportunity for savings with LED tubes over existing fluorescent tubes.
About WEPOWER Ecolutions Inc.
WEPOWER is a U.S. energy service company (ESCO) based in the Los Angeles area that offers renewable energy production, energy efficiency products and services to commercial middle-market companies, Fortune 500 brands, developers and management companies of large-scale residential developments. WEPOWER's business is focused as an integrator of clean-technology solutions in the U.S., with strategic expansion plans in Latin America, Asia and Europe. WEPOWER's core business delivers green solutions, branded specifically as WEPOWER "ecolutions," which include best-of-class alternative energy technology portfolio in wind turbines, solar PV power systems, green roofs, smart lighting controls, LED lighting, refrigeration systems and filters, battery storage systems, eco-friendly HVAC motors, energy and power control management systems, fuel reduction solutions for transportation and other clean technologies specific to its markets. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of solar- and wind-powered generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems. For more information visit us at: www.wepowereco.com
About Premier Holding Corp.
The Company provides financial and management expertise, which includes access to capital, financing, legal, insurance, mergers, acquisitions, joint ventures and management strategies, to its current subsidiary, WEPOWER. The Company also intends to acquire clean technology companies and/or green products and services that are accretive and that can be seamlessly integrated into WEPOWER, and utilize the overall economics of such products and services for the benefit of WEPOWER. For more information visit PRHL Investors Relations:
www.wepowereco.com/prhlcorp
About Independence LED Lighting, LLC
Independence LED Lighting, LLC, is a US manufacturer of industry leading Linear LED products. The company's signature Eagle LED Tube System is comprised of a full line of fluorescent replacement products, as well as a portfolio of multi-tube fixture options. Over the summer of 2010, Independence LED brought its manufacturing from China to Boyertown, PA. The LED tubes are certified by Underwriters Laboratories (UL) and meet the Buy America standards of the American Recovery and Reinvestment Act (ARRA). In addition to producing top-quality lighting products, the company offers comprehensive support services for its growing authorized reseller network. Independence LED has led the industry with installations across Fortune 500 businesses and also won the Green Business of the Year Award from the Main Line Chamber of Commerce. For more information visit us at: www.IndependenceLED.com
Premier Holding Corp. Safe Harbor
This press release contains certain statements that may include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipate," "optimistic," "intend," "will" or other similar expressions. The Company's actual results could differ materially from those anticipated in these forward- looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements.