SavWatt Opens Washington DC Office
President Obama Announces Energy Efficiency Performance Contract Funding Model
BALTIMORE, MD--(Marketwire - Dec 6, 2011) - SavWatt USA, Inc. (OTCBB: SAVW), pioneers in LED lighting and the Green Revolution, announced today that the Company has opened an office in the Washington DC area to focus on assisting the Federal Government to achieve its energy sustainability goals. On December 2, President Obama, joined by former President Bill Clinton, union officials and private sector companies too, announced $4 billion in combined private and federal funds to be invested in energy upgrades to commercial buildings over the next two years. View the Presidents Video here.
Quoting President Obama's Speech, "Upgrading the energy efficiency of America's buildings is one of the fastest, easiest, and cheapest ways to save money, cut down on harmful pollution, and create good jobs right now. But we can't wait for Congress to act. So today, I'm directing all federal agencies to make at least $2 billion worth of energy efficiency upgrades over the next two years -- at no up-front cost to the taxpayer. Coupled with today's extraordinary private sector commitments of $2 billion, to upgrade businesses, factories, and military housing, America is taking another big step towards the competitive, clean energy economy it will take to win the future."
CEO Ike Sutton commented, "The opening of our new DC office further solidifies SavWatt's presence. Being even closer to key decision makers and lobby groups will greatly benefit our cause. In addition, President Obama's speech for additional funding to make America's buildings more energy efficient will allow us more opportunities to prove the SavWatt brand is the light of the future."
Fast becoming the market leader in LED lighting, SavWatt focuses on developing innovative, energy-efficient and cost-effective LED lighting solutions. By delivering value added, application-specific LED lighting systems, we can significantly reduce energy costs and minimize our carbon footprint worldwide. SavWatt is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb. SavWatt's product families include LED fixtures, bulbs, street lights, and parking lights. For additional product and company information, please refer to www.savwatt.com. To hear audio updates on the company, text SAVW to 46800.
This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping-up production of our new products; the rapid development of new technology and competing products that may impair demand or render SavWatt's products obsolete; and other factors discussed in SavWatt's filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended December 31, 2010, and subsequent filings.
SavWatt, Eco-Pole and LED Beamer are registered trademarks of SavWatt USA, Inc.