Energy Focus’ Strong Growth for it’s Military Business for 2014 Accelerates
SOLON, Ohio, April 3, 2014 — Energy Focus, Inc. (EFOI) (OTCQB:EFOI), a leader in LED lighting technologies, today announced the Company’s military business has been awarded $2.1 million in orders in addition to the $2.0 million announced in February. Accumulated orders of $4.1 million thus far this year now represent more than the sales of the military business in all of 2013.
While the new orders consist of a wide range of Energy Focus LED U.S. Navy products, the bulk of the new orders are for Energy Focus’ LED retrofit tubes. Energy Focus LED tubes are starting to reach the various naval platforms including, most recently, a U.S. Navy aircraft carrier.
“Our accelerated sales order growth, which is well diversified across various Navy ships and platforms, demonstrates that the whole Navy ecosystem is beginning to recognize the benefits our LED products provide, resulting in significantly lower maintenance and energy costs,” said Eric Hilliard, President of Energy Focus. “We are also thrilled to retrofit the Navy’s carrier fleet. With 80,000 or more linear fluorescent lamps per carrier, the carriers represent the largest users of shipboard lighting in the U.S. Navy.”
“A critical reason we’ve been successful in creating and propelling our military business has been our focus on providing our military customers with products so reliable they can meet LED lifetime expectations even in the most difficult environments,” said James Tu, Executive Chairman. “We’re bringing that same quality mindset and discipline to the civilian markets as we strive toward achieving our goal to be a trusted leader in LED lighting retrofit, not only in the military, but also in the ESCO and commercial lighting markets .”
Energy Focus Inc will be exhibiting at the annual Sea/Air/Space Expo April 7, 8 & 9 at booth #2822 in the Gaylord National Conventional Center, National Pearl Harbor, MD.
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. These forward-looking statements include all matters that are not historical facts and can be identified by the use of words such as “believes,” “estimates,” and similar expressions. 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: growth in the markets into which Energy Focus sells; conditions of the lighting industry and the economy in general; net sales growth; sources of net sales; anticipated revenue from government contracts; our reliance upon a limited number of customers; trends in the price and performance of light-emitting diode (“LED”) lighting products; and the benefits and performance of our lighting products. 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.
About Energy Focus, Inc.
Energy Focus, Inc. is a leading provider of energy efficient LED lighting products, turnkey energy efficient lighting solutions and a developer of energy efficient lighting technology. Our solutions provide energy savings, aesthetics, safety and maintenance cost benefits over conventional lighting. Our long-standing relationship with the U.S. Government continues to enable us to provide energy efficient LED lighting products to the U.S. Navy and the Military Sealift Command fleets.
Customers include national, state and local U.S. government agencies as well as Fortune 500 companies, the U.S. Navy, and many others. Company headquarters are located in Solon, OH, with additional offices in Nashville, TN, and the United Kingdom. For more information, see our web site at www.energyfocusinc.com.
Energy Focus, Inc.
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