LA JOLLA, California, September 28, 2017 /PRNewswire/ --
AV1 Group, Inc. (OTC Pink: AVOP), a publicly traded investment and holding company announced today that the Company has entered into a joint venture (JV) with a privately held, worldwide company that has 20 years' experience in the LED lighting arena.
The JV will work together to jointly develop, patent and market various indoor & outdoor LED lighting products primarily in the cannabis and Smart Cities markets. Each will also market the other's proprietary products lines in all markets worldwide. The JV will be active in both the private and government sectors.
The Company presently specializes in mid-power LED products; our partner specializes in the industry-leading high-power LED products which, when united under this JV, gives the Company & the JV an unparalleled LED portfolio. The Company believes that another key component of this strategic relationship is that it should result in a material increase in customer order size and frequency for the Company's new and existing clients and its JV partner also brings ability to arrange financing for these orders, in addition to providing innovative solutions to the venture.
The Company's JV partner will also bring the expertise and ability to help the Company expand its existing cannabis line of LED products. Together the partners will produce and deliver to market high-performing, high-performance LED grow lights and related equipment for growing cannabis indoors, mid-power lighting class LED (on a non-exclusive basis) and to invest and collaborate on the research and development of specialized grow lighting systems for cannabis cultivation and the Smart Cities projects.
Lisa Landau, Director of Lighting, stated, "The new joint venture, will bring together the technology and brand leader in lighting class LEDs with an experienced LED partner. Leveraging our partners innovative approaches and global sales channels, this joint venture will allow the Company to bring to market a broader portfolio of high-performance LED products (in addition to our proprietary cannabis line) and we will now be able to serve the broader needs of the general illumination (indoor and outdoor lighting), horticultural and other evolving LED markets. We are keeping our partner's identity confidential at present at our partner's request, but will disclose that and more details in the near future."
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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/
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SOURCE AV1 Group, Inc.