BALTIMORE, MD -- (Marketwire) -- 10/18/11 -- SavWatt USA, Inc. (OTCBB: SAVW), pioneers in LED lighting and the Green Revolution, announced today that the Company is progressing with the following initiatives:
- On October 10, 2011 SavWatt management attended a Bladensburg, MD town council where SavWatt was presented with awards for their participation on installing two Eco-Poles to contribute to Bladenburg's Green Street initiative. Bladensburg's proximity to Washington DC not only makes our Eco-Pole a showcase for the green advocacy groups of federal, state, and local government officials, this also provides SavWatt a unique exhibition and exposure opportunity.
- The Eco-Pole is being planned for installation in Stony Brook, NY; Riverhead, NY; Ocean City, MD; Milford, DE; and Newark, NJ. Additionally, international locations are planned for Warsaw, Poland and Vitoria and Barcelona, Spain. Our web site will soon be enhanced with a map showing new Eco-Pole sites with specific details and pictures of each installation.
- SavWatt has made several executive changes and additions within the Company. Mr. Ike H. Sutton will assume the role of CEO. Mr. Adam Kolodny will take on the role of COO and Mr. Michael Haug has accepted the newly created position; EVP of Sales and Eco Hub Development. Several candidates for the open CFO position are being interviewed, and Mr. Kolodny will continue in this role until the position is filled. Additionally, Mr. E. Tracy Lewis, of Nexus Solutions Group, has joined the team to lead strategic and government relations. These executive management changes align SavWatt with the evolving direction of the LED lighting industry and serve the greater demand and increasing opportunities for new business. These changes in our executive team will also better position our growth and bring management skills to areas that require development.
- Upcoming events SavWatt will be participating:
October 26 Middle Atlantic Parking Conference - University of Baltimore, MD www.themapa.org
October 27-29 Maryland Clean Energy Summit - Hilton Inn, Baltimore, MD www.mdcleanenergy.org
October 27-30 Hong Kong International Light Fair - Hong Kong www.hktdc.com
November 2-3 Mid Atlantic Building & Facility Management Conf - Summit, NJ
- SavWatt has signed an agreement with a non-profit organization to provide on-demand workforce, at the Baltimore facility. This non-profit specializes in serving individuals with disabilities and difficulties with obtaining employment.
- On October 11, 2011 both SavWatt Trademark applications were approved: Serial Number: 85-288,397 Mark: SAVWATT, Serial Number: 85-288,400 Mark: ECO-POLE.
Fast becoming the market leader in LED lighting, SavWatt focuses on developing innovative, energy-efficient and cost-effective LED lighting solutions. By delivering value added, application-specific LED lighting systems, we can significantly reduce energy costs and minimize our carbon footprint world-wide. SavWatt is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb. SavWatt's product families include LED fixtures, bulbs, street lights, and parking lights. For additional product and company information, please refer to www.savwatt.com. To hear audio updates on the company, text SAVW to 46800.
This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping-up production of our new products; the rapid development of new technology and competing products that may impair demand or render SavWatt's products obsolete; and other factors discussed in SavWatt's filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended December 31, 2010, and subsequent filings.
SavWatt and Eco-Pole are registered trademarks of SavWatt USA, Inc.