Sunovia Energy Finalizes Partnership with Leader Electronics
SARASOTA, Fla., July 18, 2012 /PRNewswire/ — Sunovia Energy Technologies Inc. (OTCBB and OTCQB: SUNV) announces today that it has finalized a partnership agreement whereby Leader Electronics will immediately begin global production of Sunovia’s proprietary line of EvoLucia Aimed Optics(TM) LED Lighting products affording Leader an entree into the international lighting market. In addition, Sunovia granted Leader the exclusive license to manufacture and distribute the Aimed Optics(TM) product lines into China, Taiwan and other strategic markets within Asia.
The Agreement comprises more than $20 million in investments and incentives for Sunovia, including a direct $1 million capital investment by Leader into Sunovia at $0.08 per share. Further details may be found in the company’s filings with the United States Securities Exchange Commission.
“Leader Electronics is a premier global electronics manufacturing company, and an excellent partner for Sunovia as we increase our worldwide distribution and production capabilities using lean manufacturing processes,” said newly appointed Sunovia CEO, Mel Interiano. “We expect our fixture production to quickly grow to more than 20,000 units per month, which puts us in a more stable position to supply the rapidly growing global demand for our high performing LED roadway, area and parking lot lighting solutions.”
The Agreement positions Leader Electronics as Sunovia’s primary fixture manufacturer for large LED lighting projects that will commence during the second half of 2012. Sunovia also agreed to include certain high performance Leader electronics components in the EvoLucia Aimed Optics(TM) fixtures manufactured by Leader.
“We are honored and very excited about this partnership,” said Leader’s key architect of the deal, Jonathan Hou, Sr. VP & GM Lighting BU. “This is an opportunity and challenge for us in such a strategic marketplace. Leader is committed to delivering high quality, cost-effective EvoLucia lighting solutions on-time and on-spec, as well as becoming a key player in the Asian market.”
Interiano added, “This agreement allows us to focus more of our capital reserves and efforts to the rapid commercialization of next generation Aimed Optics(TM) fixtures that cost less and further outperform our competitors’ fixtures. This partnership is truly a win-win for both companies as Sunovia’s manufacturing and distribution expands to the global market, and Leader’s entry into the $100+ billion lighting industry is realized.”
About Sunovia Energy Technologies, Inc.
Sunovia Energy Technologies is an industry pioneer in the design, engineering, manufacture and marketing of high performance LED lighting systems to the global lighting markets. Sunovia received the United States Department of Energy’s highest award for lighting within the LED category, and has installed thousands of its fixtures at military bases, universities, municipalities, and large commercial entities. Sunovia’s LED lighting products are sold under the brand, EvoLucia Lighting (www.evolucialighting.com).
All EvoLucia products offer highly energy efficient, durable, commercial-grade LED lighting for both indoor and outdoor applications. The company’s award winning cobra head and shoe box fixtures employ EvoLucia’s proprietary Aimed Optics(TM) technology, which increases light levels and visibility by strategically directing light to the target area. EvoLucia fixtures require 50%-80% less energy than traditional lighting, and last for approximately 12 years without maintenance.
More information about Sunovia Energy and its EvoLucia LED lighting subsidiary is available in the company’s Securities and Exchange filings, which can be found at www.sec.gov or at www.sunoviaenergy.com.
About Leader Electronics, Inc.
Founded in 1970 and headquartered in Taiwan, LEADER ELECTRONICS INC. is principally engaged in the production and distribution of transformers, power converters and power supplies. The Company provides transformers, power converters, switch power supplies and environment protection power supplies. Its products are primarily applied in broadband communication equipment, mobile phones, personal digital assistants (PDAs), notebook computers, digital cameras, printers, liquid crystal display (LCD) monitors, as well as LCD televisions, and many other energy-efficient and energy-conscious products. . It distributes its products in domestic and overseas markets, including the rest of Asia, the Americas and Europe. With more than 5,000 employees on 4 continents, Leader is committed to the research, innovation, development and distribution of energy efficient technologies (www.lei.com.tw).
Some of the statements made by Sunovia in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. Sunovia believes that its primary risk factors include, but are not limited to: development and maintenance of strategic acquisitions; domestic and international acceptance of our product lines; defending our intellectual property and proprietary rights; development of new products and services that meet customer demands and generate acceptable margins; successfully completing commercial testing of new technologies and systems to support new products and services; and attracting and retaining qualified management and other personnel. Additional information concerning these and other important factors can be found within Sunovia’s filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors.
SOURCE Sunovia Energy Technologies, Inc.