Green Ballast Installs Its Smart Lighting Solution for Fortune 500 Tenant of Healthcare Trust of America
MEMPHIS, Tenn., Dec. 5, 2012 /PRNewswire/ -- Green Ballast Inc. (OTCBB: GBLL) announced today that Healthcare Trust of America, Inc., a Real Estate Investment Trust (REIT) with over 12.5 million square feet of leasable space, has completed a lighting retrofit equipped with Green Ballast's patented daylight harvesting fluorescent light ballasts for a Fortune 500 pharmaceutical tenant in Lenox Office Park, a premier seven building 72 acre office park in Memphis, Tennessee.
GBLL's ballast is a direct replacement for the existing "standard ballast" and adjusts power consumption for each lighting fixture, while measuring and harvesting available daylight to calculate and provide only the amount of needed electricity for proper lighting. It is a "plug and play" solution and has controls within each ballast, providing simple and efficient installation and ongoing maintenance.
"Office buildings are a primary market for our company for a fundamental reason. Significantly lowering a major operating cost is a major benefit for owners, operators and tenants alike. Healthcare Trust of America will reduce electrical lighting consumption costs by over 50%, enabling them to work with their tenant on longer-term leases," said J. Kevin Adams, chief executive officer of Green Ballast.
About HealthCare Trust of America:
Healthcare Trust of America, Inc. is a fully integrated, self-administered, self-managed real estate investment trust listed on the New York Stock Exchange under the ticker symbol "HTA". Since its formation in 2006, HTA has built a portfolio of acquisitions that totals approximately $2.6 billion based on purchase price and is comprised of 12.5 million square feet of gross leasable area. HTA's portfolio is geographically diverse, with property portfolios located in 27 states.
About Green Ballast
Green Ballast Inc., an energy solutions company, headquartered in Memphis, Tennessee, is an innovator, developer and marketer of energy efficient electronic ballasts for fluorescent fixtures in the commercial lighting industry. Green Ballast's patented daylight harvesting ballast technology utilizes an individual photo sensor that measures the amount of ambient daylight to reduce the amount of electrical current flowing to a light fixture thereby reducing lighting energy costs. Green Ballast's products are deployed during retrofit upgrades, new construction and remodeling work. Customers include electrical lighting product distributors, energy service companies, original equipment manufacturers, and real estate developers and managers who own and lease commercial real estate. To learn more about Green Ballast, please visit our website at www.greenballastinc.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements for Green Ballast reflect current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward looking statements include statements herein with respect to the company's successful execution of its business strategy. Actual results could differ materially from those anticipated in these forward- looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results are described in form S-1 filed with the Securities and Exchange Commission on April 12, 2012.
SOURCE Green Ballast Inc.