Shareholder Update: A Review of Mel Interiano's First Year as CEO of Evolucia and Guidance for the Coming Year
SARASOTA, Fla., April 30, 2013 /PRNewswire/ -- Evolucia Inc., (OTCBB & OTCQB: ILED), a leader in high performance LED (light emitting diode) lighting systems, today released the following update to shareholders from Chief Executive Officer Mel Interiano:
April 3, 2013 marked the anniversary of my first year as Chief Executive Officer of Evolucia. It has been a formative and evolutionary year for our company and we are proud of all our team has accomplished over the prior 12 months.
Major milestones achieved over the past year include:
- Finalizing a partnership with OSRAM Mexico, the second largest lighting company in the world, to market the OSRAM ProPoint™ LED Cobrahead fixture with Evolucia Aimed Optics™ in Mexico.
- Closed contracts representing over $20 million in sales of Evolucia products.
- Completed redesigns of our Aimed Optics Product lines, which improved the performance and reduced both material and manufacturing costs. (see announcement dated 12/20/2012)
- Finalized partnership with Leader Electronics to develop and deliver new world-class LED lighting products. Leader is a certified Energy Star Member laboratory and contract manufacturing organization that has invested $1 million into Evolucia at 8¢ per share and committed $2 million for R&D equipment to accelerate Evolucia product development. In addition, Leader agreed to develop distribution channels into China, Taiwan and other select Asian marketplaces for Evolucia products. (see announcement dated 7/18/2012)
- Established a joint venture with Polish LED lighting company SETE Sp. z o.o. to form Evolucia Europe. Terms of the agreement call for SETE to pay Evolucia $11 million for the right to manufacture and market Evolucia products in Europe. Not only will Evolucia maintain a 51% majority interest in Evolucia Europe, the transaction is non-dilutive to Evolucia shareholders and represents Evolucia's first significant "pay-to-play" transaction. This strategy allows Evolucia to efficiently and quickly penetrate the global marketplace in a profitable manner. (see announcement dated 3/20/2013)
- Formed Evolucia Australia as a wholly-owned subsidiary to distribute Evolucia products in Australia, New Zealand and the Pacific Rim. Evolucia's proprietary Aimed Optics technology is uniquely applicable to the Australian and New Zealand markets where street light pole spacing is often greater than European and United States standards because Evolucia fixtures focus light from each individual LED at the target roadway providing for precise illumination uniformity. (see announcement dated 3/26/2013)
- Secured domestic and international patents to protect the intellectual property and value of Evolucia's award-winning LED lighting product lines. (see announcement dated 11/13/2012)
- Recruited and secured highly successful lighting industry professionals in order to expedite the company's evolution to a recognized and dependable global LED lighting company.
- Rebranded Evolucia as a "pure-play" LED lighting company with proprietary technology that is recognized as revolutionary within the $100 billion lighting industry.
- Assembled a world-class board of directors that consists of highly successful people who bring varied backgrounds, strengths and opinions to important company decisions.
- Reached agreement to acquire Affineon Digital Lighting, a private LED fixture and control system company located in Coral Springs, Florida that posted approximately $4 million in 2012 revenues (see announcement dated 4/22/2013).
- Closed on $2 million in financing as part of a Private Placement Securities Offering.
- Launched 7 new product lines at LIGHTFAIR April 23-26, 2013, the world's largest lighting trade show. Two celebrity shareholders, Major League Baseball greats Andres Galarraga and Pedro Martinez leant their support by helping to create excitement on the show floor and interest in the media.
Below is a look forward to what we expect to accomplish over the next 12 months:
- Evolucia will secure a new corporate headquarters location in Sarasota, Florida that will include a state-of-the-art research and development laboratory, a simulation chamber, customer showroom and "Made in the USA" manufacturing capabilities.
- Evolucia will increase Intellectual Property patent filings as our R&D staff continues to rapidly design more efficient intelligent lighting systems.
- Evolucia will continue to build a global infrastructure with manufacturing and distribution capabilities focused on the efficient penetration of new and profitable markets.
- Evolucia will apply for listing on the NASDAQ within the next 12 months.
- Evolucia will finalize contracts with multiple Fortune 500 companies for the delivery and installation of Evolucia products.
- Evolucia will launch the first products in its new lighting controls division, called Evotrol.
As you can see from the above, we have laid a solid foundation for growth over the past year and have a coherent and achievable plan for building significant shareholder value.
Our brand equity will continue to grow as we capture additional market share and participate at internationally recognized events, such as LIGHTFAIR, the premier lighting show in North America.
We are now well-positioned to become a dominant "pure play" global LED lighting company within the rapidly growing $100 billion global lighting market. We value your loyalty and continued interest as an investor. The future is bright!
Chief Executive Officer &
Chairman of the Board
About Evolucia Inc.
Evolucia Inc. designs, engineers, manufactures and markets high performance LED lighting systems. Evolucia received the United States Department of Energy's highest award for lighting within the LED category and has installed thousands of its fixtures at military bases, universities, municipalities, and large commercial entities. Evolucia's LED lighting products are sold under the brand, Evolucia Lighting (www.evolucialighting.com).
All Evolucia products offer highly energy efficient, durable, commercial-grade LED lighting for both indoor and outdoor applications. The company's award winning cobra head and shoe box fixtures employ Evolucia's proprietary Aimed Optics™ technology, which increases light levels and visibility by strategically directing light to the target area. Evolucia fixtures require 50%-80% less energy than traditional lighting and last for approximately 12 years without maintenance.
Some of the statements made by Evolucia in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. Evolucia believes that its primary risk factors include, but are not limited to: development and maintenance of strategic acquisitions; domestic and international acceptance of our product lines; defending our intellectual property and proprietary rights; development of new products and services that meet customer demands and generate acceptable margins; successfully completing commercial testing of new technologies and systems to support new products and services; and attracting and retaining qualified management and other personnel. Additional information concerning these and other important factors can be found within Evolucia's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors.
SOURCE Evolucia Inc.
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