SavWatt Installs Eco-Poles in New York
First 3.4 Million Dollar Solar Panel Order Signed
BALTIMORE, MD--(Marketwire - Mar 28, 2012) - SavWatt USA, Inc. (OTCBB: SAVW), pioneers in LED lighting and the Green Revolution, announced today that SavWatt has completed Eco-Pole installations at three New York sites: City of Riverhead - Riverhead, NY, Stony Brook University - Stony Brook, NY, St Raymond's School - Bronx, NY., pictures of these installations are available on our web site www.savwatt.com. Further per our February 6, 2012 news release, our Solar Panel program has enabled SavWatt to close its first major Solar Panel EPC project totaling $3.4 million in New Jersey.
Martin Gerber, SavWatt's CMO, commented, "Eco-Pole installations continue, with each new site providing feedback and statistics. Our continuous upgrading strengthens our offering for mass deployment. On another note, our Solar initiatives have started to produce results especially due to Federal Tax incentives and accelerated depreciation which covers 50% of the cost, making solar opportunities very attractive. We are looking forward to working with any municipalities that want to go green."
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 world-wide. 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.
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 is a registered trademark of SavWatt USA, Inc.