SavWatt Adds Solar to Its Product Line
"SavWatt Depot" to Open in April
BALTIMORE, MD--(Marketwire - Feb 6, 2012) - SavWatt USA, Inc. (OTCBB: SAVW), pioneers in LED lighting and the Green Revolution, today released a business update summarizing some of the company's initiatives:
Revenue Forecast: 1st quarter 2012 will end our development stage classification and our revenues will begin in 2nd quarter 2012. We have several substantial projects due to close this quarter and we are on target to exceed $10 million in revenues for 2012. California operations will begin in the second quarter of 2012. Due to the nature of the market SavWatt will enter the market creating "SavWatt Depot," a one-stop shop for contractors and homeowners to pick up energy-efficient home products including LED lights, solar panels, solar water heaters, solar pool heaters, battery storage and other energy efficient products. A 12,000 square foot facility in San Marcos, California is currently being renovated for this launch. The facility will also serve as the company's west coast offices. Based on this new addition SavWatt's sales forecast for 2012 is $15 million.
New personnel at SavWatt: Julio Ferreira has joined the SavWatt team to identify opportunities in Brazil. Brazil is one of the leading green initiatives countries, and provides SavWatt with huge sales potentials, especially with a focus on the upcoming World Cup Games in 2014. Jim Rivette will be heading our International Division and has booked several meetings for his upcoming trip to Western Africa next month. Sheldon Bender has joined the company as full time adviser to the CEO to explore opportunities in partnering with the State of New of York, BYD.com, a major Chinese supplier of LED Lights, Solar Panels, Storage Batteries and Electric Cars and others.
Our Eco-poles have been installed in strategic locations for testing and continued to be installed and upgraded. These tests provide valuable information for deployment of thousands of units worldwide in the upcoming years. A Carbon Credit application will be finalized this quarter with the assumption that a forward sale can be made providing valuable subsidies for their deployment. Click here to download our Eco-pole brochure: http://savwatt.com/ecopole-brochure. In addition, our new Sun-poles featuring Solar and Lithium Ion batteries enable simple installation of street lights to be deployed without connectivity to the electric grid. Solar panels' updated technology and pricing, coupled with Federal and State incentives, still make it a commodity that SavWatt will be capitalizing on. Solar panels will be added shortly to our web site.
In May 2012, SavWatt will participate in the premier annual US Lightfair exhibition, May 9-11 in Las Vegas. www.lightfair.com. The exhibition has been sold out and it is anticipated 75% of this year's showing will be LED lights. The fair is expected to attract over 20,000 design, architectural, engineering and industry professionals from around the world.
Ike H. Sutton, SavWatt's CEO, commented, "The DTC Chill, which has made shares of our stock harder and more expensive to trade, has definitely taken a toll on our valuation. Shareholders interested in purchasing shares can contact our office to obtain Broker information that will handle the transaction at minimal fees. A long term solution is being explored as the chill has affected over 500 companies is an obstacle that needs to be dealt with." For more information regarding DTC Chill see: http://dtcchill.com/dtc-chill-removal-there-is-more-to-it.
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 and Eco-Pole are registered trademarks of SavWatt USA, Inc.