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8-K - 8-K - POWERSECURE INTERNATIONAL, INC. | l37777e8vk.htm |
Exhibit 99.1
PowerSecures EfficientLights Refrigerated Case Lighting Revenues Expected to Reach $20 Million for 2009
Major Retailers Installed Over 100,000 EfficientLights Fixtures to Reduce Energy Costs and Improve Lighting Quality Since January
Wake Forest, N.C. October 14, 2009 PowerSecure International, Inc. (Nasdaq: POWR) today
announced its EfficientLights refrigerated case lighting is being installed at a rapid pace by
major retailers, and because of this strong demand the Company now expects revenues for the product
to reach $20 million for 2009. This represents growth of approximately 650% over 2008.
So far this year, over 100,000 EfficientLights fixtures have been installed in refrigerated cases
of grocery, drug, and convenience store chains to: 1) improve the quality of light illuminating the
products in their cases, 2) reduce lighting energy costs by approximately 70%, 3) reduce
maintenance expense by extending light life five-fold over traditional lighting, 4) lower stores
carbon footprint, and 5) eliminate mercury-containing fluorescent lights.
Sidney Hinton, PowerSecures CEO, said, We are thrilled with the strong demand we are experiencing
for our EfficientLights technology, and the terrific product our EfficientLights team, led by Bryan
Beatenbough, is delivering our customers. The uptake we are seeing is a result of the superior
quality of light EfficientLights projects onto our customers products in refrigerated cases. The
combination of benefits provided by our lights produces a substantial financial and environmental
payback for our customers.
Bryan Beatenbough, President of EfficientLights, commented, Our lights are built to deliver
consistent, high quality light over the long-haul. An important element of our success, recognized
by leading retailers adopting our technology, is that our EfficientLights lighting utilizes high
powered LED technology to deliver more efficient light output. This is in sharp contrast to
substandard lighting which misuses low powered LEDs which are not designed for the demands of
continuous, customer-facing lighting applications. We engineer our EfficientLights product to
provide ten years of consistent, dependable quality light and the unmatched combination of
quality and efficiency we build into every fixture is why we are the leader in the marketplace.
About PowerSecure
PowerSecure International, Inc. is a leading provider of Energy and Smart Grid Solutions to
electric utilities, and their commercial, institutional, and industrial customers, as well as
Energy Services to the oil and natural gas industry. PowerSecures Energy and Smart Grid
Solutions businesses provide products and services in the areas of Interactive Distributed
Generation®, Utility Infrastructure, and Energy Efficiency. The Company is a pioneer in developing
Interactive Distributed Generation® systems with sophisticated, proactive smart grid capabilities,
including the ability to 1) forecast peak electricity demand and electronically deploy the systems
to deliver more efficient, and environmentally friendly power, 2) provide utilities with dedicated
electric power generation assets for their demand response needs, and 3) provide customers with the
most dependable standby power in the industry. PowerSecure also provides utilities with
regulatory consulting, power system and transmission engineering and construction, and provides
businesses with energy efficiency products
and services, including its state-of-the art EfficientLights lighting solution for refrigerated cases. The
Company provides Energy Services to the oil and natural gas industry through its Southern Flow and
WaterSecure business units. Additional information is available at www.powersecure.com.
All forward-looking statements contained in this release are made within the meaning of and
pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are all statements other than statements of historical facts, including
but not limited to statements concerning the outlook for the businesses discussed in this press
release and the Companys future revenues, earnings, margins, and other financial and operating
information and data; the outlook for growing the Company through innovative energy management and
conservation; business operations and prospects for the Company; the outlook for future gains in
the Companys revenues due to its business initiatives; the anticipated results of the Companys
products, solutions, and technologies; and all other statements concerning the plans, intentions,
expectations, projections, hopes, beliefs, objectives, goals and strategies of management,
including statements about other future financial and non-financial items, performance or events
and about present and future products, services, technologies and businesses; and statements of
assumptions underlying the foregoing. Forward-looking statements are not guarantees of future
performance or events and are subject to a number of known and unknown risks, uncertainties and
other factors that could cause actual results to differ materially from those expressed, projected
or implied by such forward-looking statements. Important risks, uncertainties and other factors
include, but are not limited to, those risks, uncertainties and other factors identified from time
to time in the Companys Annual Report on Form 10-K for the year ended December 31, 2008, as well
as in subsequent filings with the Securities and Exchange Commission, including reports on Forms
10-Q and 8-K. Accordingly, there can be no assurance that the results expressed, projected or
implied by any forward-looking statements will be achieved, and readers are cautioned not to place
undue reliance on any forward-looking statements. The forward-looking statements in this press
release speak only as of the date hereof and are based on the current plans, goals, objectives,
strategies, intentions, expectations and assumptions of, and the information currently available
to, management. The Company assumes no duty or obligation to update or revise any forward-looking
statements for any reason, whether as the result of changes in expectations, new information,
future events, conditions or circumstances or otherwise.
Contact
Chris Hutter
Chief Financial Officer
PowerSecure International, Inc.
(919) 453-1760
Chris Hutter
Chief Financial Officer
PowerSecure International, Inc.
(919) 453-1760
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