SOLON, Ohio, Sept. 25, 2013 (GLOBE NEWSWIRE) -- Energy Focus, Inc. (OTCQB:EFOI) today announced that the company has entered into a Marketing Joint Venture Agreement with NextGen LED to jointly develop business opportunities in the commercial sector. NextGen LED is a national full-service LED Lighting Services Company with energy saving guarantee programs and in-house financing capabilities.
According to the terms of the agreement, NextGen LED agrees to purchase linear LED products exclusively from Energy Focus. In return, Energy Focus agrees to grant exclusivity to sell in select market channels and distributors and to provide NextGen with appropriate marketing, technical and training support. The agreement also allows NextGen LED to become a master distributor of Energy Focus products in certain regions and for Energy Focus to expand its product offerings to NextGen on mutually agreeable terms.
"We are extremely excited to become an exclusive LED tube product supplier and marketing partner for NextGen LED, whose high-level access to a blue-chip list of property developers, global retail chains and distributors coupled with its 9-digit-plus in-house financing capability will enable both companies to penetrate the commercial sector more rapidly," said James Tu, Energy Focus Executive Chairman.
"In the vast sea of LED manufacturers, Energy Focus brings an unparalleled history of proven technical strength. Our LED products have not experienced a single failure since they were installed on U.S. Navy ships in 2007. With our proven track record of providing highly reliable LED products to the military sector, Energy Focus brings NextGen LED's commercial sector customers that same 'peace-of-mind,'" continued Mr. Tu.
Marnie L. Abramson, Principal of NextGen, commented: "NextGen is proud to partner with Energy Focus to deliver to the commercial market the highest quality LED tube products with the highest lumens per watt, enabling us to sell and underwrite projects with attractive economics and with confidence. We fully anticipate this partnership to thrive and expand over the coming months and years."
About Energy Focus, Inc.
Energy Focus, Inc. is a leading provider of energy efficient LED lighting products, turnkey energy efficient lighting solutions and a developer of energy efficient lighting technology. Our solutions provide energy savings, aesthetics, safety and maintenance cost benefits over conventional lighting. Our long-standing relationship with the U.S. Government includes numerous research and development projects for the DOE and DARPA, creating energy efficient LED lighting systems for the U.S. Navy fleet.
Customers include national, state and local U.S. government agencies as well as Fortune 500 companies, the U.S. Navy, swimming pool builders and many others. Company headquarters are located in Solon, OH, with additional offices in Nashville, TN, Pleasanton, CA, and the United Kingdom. For more information, see our web site at www.energyfocusinc.com.
About NextGen Partners, LLC ("NextGen LED").
NextGen LED is a national full-service lighting retrofit company focused on high quality/high value ROI-based LED solutions with guaranteed energy savings. NextGen LED simplifies the client experience by managing the entire lighting supply chain including site surveys, savings analysis, product selection, rebate management, procurement, installation and in-house financing at the market's most competitive rates. The company supports building owners, developers, architects, construction companies and government agencies in their efforts to achieve greater energy efficiency and reduce carbon emissions through a comprehensive product platform of the highest quality LED technology. For additional information, please visit: www.NextGenROI.com
Source:Energy Focus, Inc.