Energy Focus Receives the Single Largest Order in the Company’s History
SOLON, Ohio, September 11, 2014 — Energy Focus, Inc. (NASDAQ:EFOI), a leader in LED lighting technologies, today announced that the Company has received a $7.7 million order for the United States Navy combatant ship forces. This order, most of which is expected to be delivered throughout the remainder of 2014, represents the single largest order in the Company’s history.
This new delivery order is entirely for Energy Focus’ Intellitube® LED retrofit tubes. This true plug and play technology allows for direct fit into existing fluorescent sockets with or without the ballast in place. The proprietary circuit and LED lamp designed by Energy Focus is now employed and installed in more than 140 naval vessels in the vast U.S. Navy military fleet, up from fewer than 20 in the beginning of 2014.
“Over the past year, we have built extensive relationships with the U.S. Navy at various levels from the Pentagon to the ship forces, which now are broadly aware of the economic and sustainability benefits of our LED technologies, as well as the availability of our LED products,” said Eric Hilliard, President and Chief Operating Officer of Energy Focus. “We are extremely excited about and grateful for the unwavering commitment to energy and maintenance savings, as well as carbon reductions made by the leadership in the U.S. Navy. We are equally committed to working with and supporting all constituencies from the Navy to expedite their LED adoption initiatives in the quarters and years to come.”
“We are absolutely honored with the confidence the U.S. Navy has placed in Energy Focus and our LED products,” said James Tu, Executive Chairman and Chief Executive Officer of Energy Focus. “With over three decades of advanced lighting development experience and a long-term research partnership with the U.S. government in LED lighting since 2002, Energy Focus remains the only Navy Military-Spec qualified LED replacement lamp provider. We are also proud to say there has been zero failure in the lamps we have put on U.S. Navy ships since our first installation in 2007. We plan and fully expect to leverage our proven technologies and the resounding successes we have had with the U.S. Navy to build our presence and leadership in the broader maritime market, including military and non-military vessels that together represent a total addressable market of over $4 billion.”
Forward Looking Statements
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Generally, these statements can be identified by the use of words such as “believes,” “estimates,” “anticipates,” “expects,” “seeks,” “projects,” “intends,” “plans,” “may,” “will,” “should,” “could,” “would” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from Energy Focus’ forward-looking statements. These risks and uncertainties include, but are not limited to: the timing of the shipment of orders in our backlog, the benefits and performance of our lighting products; our ability to expand our sales with existing customers and other customers in the maritime market; growth in the markets into which Energy Focus sells; conditions of the lighting industry and the economy in general; statements as to our competitive position; the development and marketing of new products; relationships with the U.S. Navy, customers and distributors; trends in the price and performance of light-emitting diode (“LED”) lighting products; and our strategy with regard to protecting our proprietary technology. For more information about potential factors that could affect the financial results of Energy Focus, please refer to the Company’s SEC reports, including its Annual Reports on Form 10-K and its quarterly reports on Form 10-Q. These forward-looking statements speak only as of the date hereof. Energy Focus disclaims any intention or obligation to update or revise any forward-looking statements.
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Source: Energy Focus, Inc.