NEW YORK, Aug. 21, 2014 (GLOBE NEWSWIRE) -- ForceField Energy Inc. ("ForceField") (Nasdaq:FNRG), a designer, seller and distributor of energy products and solutions, announced today the significant energy and cost savings resulting from LED and other energy efficient lighting solutions implemented by its American Lighting subsidiary ("ALD") at Sharp HealthCare ("Sharp"), San Diego, California's leading integrated regional health care delivery system. The projects, which began in 2012, included more than 20 projects at multiple Sharp HealthCare facilities including installations for parking garages/lots, the exterior building perimeter, lobbies and hallways, exam and operating rooms, administrative offices, and pharmacies, among other areas. The annual saving of the program is more than 3.8 million kWh and $500,000. Projects have featured a comprehensive list of lighting products including many LED and other energy efficient products and solutions. ALD and Sharp are working closely to develop additional projects to further enhance energy efficiency and reduce carbon footprint across Sharp's healthcare delivery network.
The projects contributed to Sharp HealthCare being recognized by San Diego Gas & Electric (SDG&E) for their outstanding results in energy efficiency and conservation and was named San Diego's "Healthcare 2014 Energy Champion" by SDG&E.
Donna Serpico-Thompson commented, "Since 2012 American Lighting (ForceField's subsidiary) has been actively involved in Sharp HealthCare's program to achieve energy efficiency goals and objectives. At Sharp HealthCare, energy-efficiency efforts are designed to reduce our carbon footprint, enable operational savings, conserve natural resources, and provide a healthier environment for patients, staff and the community. American Lighting assisted us in developing energy efficient lighting solutions which in the aggregate has enabled Sharp to achieve annual energy savings of more than $500,000 due to the reduction of approximately 3.8 million kWh of electricity throughout our integrated health care delivery system. We look forward to continued work with American Lighting to further identify innovative energy-efficient lighting projects in the future."
Neil Miller, American Lighting's Chief Executive Officer, commented, "We are proud to be able to support Sharp HealthCare, a leading integrated healthcare network, in its mission to improve its energy efficiency, reduce its carbon footprint and enhance the health in the community it serves. Reducing and controlling energy costs at an integrated health delivery network translates to savings and stability for the bottom-line. Reducing utility expenditures can provide a low risk, high yield, and stable investment for the organization and can ultimately lower costs for the hospital and its patients. As demonstrated by our multi-year relationship with Sharp, we have been able to generate recurring revenue by continuing to deliver high-quality, value driven energy efficiency solution to our existing clients. We are confident our success in lowering energy usage and reducing cost for healthcare providers such as Sharp HealthCare, will continue to drive new opportunities across the healthcare market."
With continued pressure on healthcare providers to reduce cost, enhance efficiency while ensuring ensure the best quality of care, energy efficient lighting solutions are an essential component in every healthcare provider operating plan to address these needs. Patient and operating rooms, diagnostic and outpatient facilities, emergency rooms, hallways, as well as parking facilities all need round the clock, good quality, highly efficient lighting. Electricity costs associated with lighting can contribute hundreds of thousands of dollars in costs to a healthcare facility. Energy efficient lighting devices provide hospitals with innovative technological solutions to:
- Increase efficiency
- Improve safety
- Improve lighting levels
- Increase the comfort of patients and employees
- Reduce energy costs for lighting and air conditioning
- Reduce Carbon footprint
- Cut down on maintenance costs and costly facility downtime
About Sharp
Sharp HealthCare, San Diego's most comprehensive health care delivery system, is recognized for clinical excellence in cardiac, cancer, multi-organ transplantation, orthopedics, rehabilitation, behavioral health, women's health, home health and hospice services. Sharp HealthCare has been widely acclaimed for its commitment to transform the health care experience for patients, physicians and staff through an organization-wide performance improvement initiative called The Sharp Experience. The Sharp system includes four acute-care hospitals, three specialty hospitals, two affiliated medical groups and a health plan. To learn more about Sharp, visit www.sharp.com or stay connected with Sharp on Facebook, Twitter and YouTube.
About ForceField Energy Inc.
ForceField Energy Inc. and its subsidiaries comprise a global company whose products and solutions focus on sustainable energy solutions and improved energy efficiency. ForceField is a distributor of LED lighting products for a number of premier LED lighting manufacturers; and through its subsidiary American Lighting, is an award winning-contractor that has completed lighting installations for numerous high profile concerns in a variety of industries. ForceField is also a licensee of modular, heat recovery systems that convert waste heat into clean electricity. Its patented technology is based upon the Organic Rankine Cycle (ORC) and uses proprietary, multiple-component fluids that are environmentally sound.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed in this press release are forward-looking. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "anticipates" or anticipated," "believes," "estimated" or "estimates," "plan" or "planned," "expects" or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond ForceField's control that may cause actual results to differ materially from stated expectations. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include (i) achieving 2014 revenue and other financial guidance; (ii) the Company's ability to obtain adequate financing to achieve its LED objectives; (iii) the successful installation and efficacy of the Company's LED lighting products; (iv) successful integration of ESCO's operations into ForceField; (v) the Company's ability to successfully raise sufficient capital to effectuate the ESCO acquisition as well as for additional working capital to (vi) closing the transaction before October 15, 2014, (vii) the transaction being accretive to ForceField's earnings, (viii) accelerated combined growth, synergistic cost savings and performance subsequent to closing, (ix) the enormous revenue potential for the cross licensing agreement with Noveda and (x) obtaining additional orders from Sharp (xi) and other factors, without limitation, which are set forth in documents we file from time to time with the Securities and Exchange Commission, which are available at www.sec.gov. For a written description of these factors, see the section titled "Risk Factors" in the Company's Form 10-K for the fiscal year ended December 31, 2013 and any updating information in subsequent SEC filings. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise, except as required by law.