Energy Focus, Inc. Welcomes New Energy Bill, Already Meets 2020 Lighting Efficiency Mandates
Posted on: Thursday, 20 December 2007, 12:00 CST
SOLON, Ohio, Dec. 20 /PRNewswire-FirstCall/ -- Energy Focus, Inc. , the global leader in energy-efficient lighting technologies, today welcomed the "Energy Independence and Security Act of 2007" signed into law by President Bush on December 19, 2007. Under the new law, all light bulbs must use 25% to 30% less energy than today's products by 2012 to 2014. The phase-in will start with 100-watt bulbs in January 2012 and end with 40-watt bulbs in January 2014. By 2020, bulbs must be 70% more efficient.
(Photo: http://www.newscom.com/cgi-bin/prnh/20071220/AQTH099)
The company pointed out that Energy Focus lighting products, which utilize LEDs and other high-efficiency sources, already meet the efficiency requirements mandated for the year 2020.
"The US government has finally recognized the need to do away with inefficient traditional incandescent light bulbs," said John Davenport, CEO of Energy Focus, Inc. "We expect that this will generate great demand for highly efficient lighting products like ours. Energy Focus products are the most efficient lighting systems on the market, using as little as 20% of the energy of traditional bulbs, and therefore already exceeding the efficiency targets for 2020. Our customers around the globe are already seeing the major energy cost, and maintenance savings that high-efficiency lighting products can bring."
Energy Focus Inc.'s flagship EFO(R) products are highly energy efficient lighting systems that consumes as little as 20% of the energy of traditional lighting, offering customers significantly lower energy, maintenance and cooling costs over fluorescent, halogen, incandescent, and other traditional lighting technologies. For instance, compared to the MR16 halogen lamp, the current standard for commercial accent lighting, EFO products produce equivalent levels of light while consuming 80% less power.
According to U.S. Department of Energy, lighting is the biggest energy expense for retailers, accounting for 37% of total energy use in U.S. retail buildings. EFO systems have been installed by a broad range of customers, including Whole Foods, Limited Brands, Wal-Mart Mexico, the US Navy, Albertsons, Brookshire Stores, Pathmark, Shaw's, and other major grocery and retail chains.
"EFO products are at the forefront of reducing electric demand and addressing global warming issues," added John Davenport, CEO of Energy Focus, Inc., "and we are working to help our nation reduce its dependence upon foreign energy sources."
About Energy Focus, Inc.
Energy Focus, Inc. , designs, develops, manufactures and markets lighting systems for wide-ranging uses in both the general commercial and the pool and spa lighting markets. Energy Focus EFO(R) systems offer energy savings, heat dissipation and maintenance cost benefits over conventional lighting for multiple applications. The Company's headquarters are located at 32000 Aurora Rd., Solon, Ohio. The Company has additional offices in California, the United Kingdom, and Germany. Telephone: (440) 715-1300. For more information, see http://www.energyfocusinc.com/.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding the business outlook for 2007 and thereafter, future pool market sales, and the potential growth of EFO sales based upon its energy savings over halogen and fluorescent lights. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Actual results may differ materially from the results predicted. Risk factors that could affect the Company's future include, but are not limited to, a slowing of the U.S. and world economies and its effect on Energy Focus' markets, failure to develop marketable products from new technologies, failure of EFO or other new products to meet performance expectations, unanticipated costs of integrating acquisitions into the Energy Focus operation, delays in manufacturing of products, increased competition, other adverse sales and distribution factors, and greater than anticipated costs and/or warranty expenses. For more information about potential factors which could affect Energy Focus financial results, please refer to the Company's SEC reports, including its Annual Report on Form 10-K for the year ended December 31, 2006, 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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Energy Focus, Inc.
CONTACT: Energy Focus, Inc. Public Relations Office, +1-440-715-1295,pr@energyfocusinc.com
Web site: http://www.energyfocusinc.com/
Source: PRNewswire-FirstCall
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