LA JOLLA, California, June 22, 2017 /PRNewswire/ --
Company Plans To Aggressively Pursue Large Retail Outlets Such As Walmart, Home Depot, Lowes, Government Facilities, School Districts, Hotels
Extended Life Will Have Large Demand In Both Consumer And Commercial Marketplaces
AV1 Group, Inc. (OTC Pink: AVOP), a publicly-traded investment and holding company, announced today that the Company has purchased 49% of Intelligent Lighting Corp. ("ILC"), a privately-held company that owns a disruptive technology that can be used to produce a whole new generation of light bulbs for commercial and consumers use. The acquisition was consummated in cash and stock.
The Company plans to issue a more extensive description of the transaction and the technology in the following week.
Lisa Landau, a VP of AV1 Group and the Chairman of ILC said: "Intelligent Lighting Corp's flagship product, the PowerDisc TM, is a revolutionary patented technology that increases light bulb life to over fourteen years burning 24/7 while reducing energy consumption up to 42%. The second product is our energy efficient incandescent light bulb - the eCandescent TM."
Ms. Landau continued: "A standard incandescent light bulb with a pre-determined life of 1300 hours, (approximately 54 days), with the eCandescent TM can burn for over 130,000 hours or 24 hours per day, 7 days per week for 14 years. Imagine the life extension if the bulb was used over normal lighting circumstances."
Bryen Beglinger, CEO of AV1 Group stated: "Purchasing only 49% at this time allows for Intelligent Lighting Corp. to continue to be qualified for incentives/preferences, which could help greatly as we ramp up the production and marketing/sales of the products that will utilize these amazing technologies."
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About AV1 Group, Inc.:
AV1 Group, Inc. is a publicly traded investment and holding company established to identify, secure, and monetize emerging growth companies, technologies and ecommerce businesses positioned for exponential growth. The Company seeks to discover inspired entrepreneurs with revolutionary concepts which can make a substantial footprint in markets that the Company believes to have considerable growth potential. AV1 Group, Inc.'s comprehensive business model also includes a division which delivers internally created projects that are poised for revenue generation, and a platform enabling the Company to develop embryonic stage subsidiaries under one umbrella, bringing a spectrum of backgrounds to the table, thus providing a significant resource of experience, knowledge and expertise to every venture. AV1 Group, Inc. explores every opportunity to help each sector exceed their revenue goals while building close, active working relationships; preparing each respective division to be a robust competitor in their chosen markets. For more information, visit: http://www.av1group.com/.
About Intelligent Lighting Corp:
Intelligent Lighting Corp is a California-based technology company committed to manufacturing and marketing of state-of-the-art, energy-saving products and technologies. Intelligent Lighting Corp, has put together a dynamic team to aggressively pursue every distributor from large retail outlets such as Walmart, Home Depot, Lowes, government facilities, school districts, hotels to your neighborhood hardware store. We have a patented energy efficient, long lasting, truly green incandescent light bulb. For more information, visit: http://powerdisc.com.
*All laboratory studies are based on the decades old, industry standard - the General Electric formula (GE TP-1100R 2 5/84), which is "Expected life = Rated life times the ratio of design voltage divided by applied voltage - the ratio being raised to the 13.1 power." Simply put, when an incandescent bulb is operated at other than its design voltage, its life expectancy will be changed.
This press release was written by PubCoPR.com - For more information: info@PubCoPR.com .
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