Syracuse, IN / GlobeNewswire / January 6, 2020 / Znergy, Inc. (OTC: ZNRG) (the ”Company”) is a leading provider of new LED lighting and turnkey LED lighting conversions for businesses. Znergy is pleased to announce it has entered into a Master Supply Agreement to upgrade one of the top 5 largest worldwide retail clothing chains to new LED lighting. Under the Master Supply Agreement, Znergy will retrofit and convert approximately 518 North American retail locations to new LED lighting. Znergy currently anticipates up to $90 million of additional revenue under the agreement over an estimated 2-3-year conversion schedule, which is dependent on the client’s continuing issuance of purchase orders. Znergy has just completed the initial group of 10 locations kicking off the nationwide conversion rollout.
Znergy Chief Executive Officer, Dave Baker, commented, “Large projects require expertise in many areas to exceed client expectations. This particular project required Znergy to work closely with our manufacturing partner to create a customized Energy Star approved lighting solution for our client’s specific needs. At the same time, it was necessary to lower both the up-front costs and the time to reach ROI. We performed a nationwide analysis to determine which retail locations could take advantage of the highest available utility rebates and save the highest electricity consumption. Our advanced utility rebate strategies lowered both the up-front cost and the ROI. Znergy was also required to maximize the reduction of the company’s ecological carbon footprint, which is extremely important to both the management team and its fan shoppers. After conversion to LED lighting, the annual environmental impact will reduce an estimated 180,059,750 lbs. of CO2 which is equivalent to removing 17,550 cars from the road every year. Reducing energy use is the quickest, safest, most cost-effective way to reduce the emission of greenhouse gases that accompanies the generation of electricity from fossil fuels.”
Znergy Chairman of the Board, Rick Mikles, commented, “Typically, we spend a lot of time discussing cost savings with companies, but there are many non-utility bill benefits as well. Better lighting has been shown to attract customers and increase retail sales. When you reduce staff downtime for maintenance, reduce risk of falls from ladders and lifts, increase employee morale and productivity, you positively make the business easier to manage.”
About Znergy, Inc.
Znergy, Inc. (OTC: ZNRG) is a leading provider of energy-efficient lighting products, lighting controls, and energy management solutions. Management is executing a growth strategy through developing large regional and national accounts, and rolling out sales and installation teams across the United States. Znergy solutions enable customers to reduce energy consumption, lower maintenance costs, increase safety and realize environmental benefits. Znergy is headquartered in Syracuse, Indiana. For more information, see our web sites at www.znergyworld.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company’s future financial performance and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties, and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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