NEW YORK, Oct. 28, 2013 (GLOBE NEWSWIRE) -- ForceField Energy Inc. ("ForceField") (Nasdaq:FNRG), an international manufacturer, seller and distributor of energy products and solutions, announced today the appointment of Stephane Vachon as its new Vice President of Business Development and Operations. In addition, the Company announced the receipt of an initial order from a Fortune 500 company in the paper industry for a small quantity of the Company's LED products for testing by the paper company as part of their energy efficiency and greenhouse gas reduction initiatives.
Stephane brings more than 20 years of experience in the successful development and expansion of global businesses that have spanned North America, South America, Central America, Russia and Mexico. He has built and managed organizations with more than 1,000 employees and established business and clients relationships with a diverse customer base from small emerging companies, to large multi-national organizations.
Prior to joining ForceField Energy, Mr. Vachon was Chief Executive Officer and President of DEK International SA ("DEK") from September 1995 until 2009, and subsequently Dek's President. He was responsible for developing, managing, and operating the distribution of proprietary electronic system products for gaming tables working with casinos in more than 25 countries around the world. In December of 2004 to present, he co-founded Severen Enterprises S.A., a casino operator company that opened 5 casinos. In addition, from December 2004 to present, he co-founded and served as Chief Executive Officer of Sabia Coporation S.A. de C.V., a casino operator company based in Monterrey, México which opened 3 casinos. On February 22, 2013 the Company announced the signing of a five year distribution agreement with Dek to distribute the Company's energy-efficient LED products and proprietary waste heat technology.
Richard St-Julien, ForceField Energy's Chairman commented, said, "Recently we have focused our efforts on building a strong base of global distribution partners which provides access Fortune 500 companies, large multi-location enterprises, municipalities and a diverse group of small to mid-size enterprises worldwide. Stephane's experience in successfully building, managing and expanding businesses will support our efforts to more effectively and aggressively leverage this platform and manage and implement current and future opportunities to deliver LED lighting solutions for industrial, commercial and government applications and continue to develop the Company's other business and energy solutions. Stephane's strong leadership skills combined with two decades of experience in the development of high growth businesses made him the right choice for our rapidly expanding company."
About ForceField Energy, Inc.
ForceField Energy is a global company whose products and solutions focus on renewable energy and improved energy efficiency. ForceField is the exclusive distributor in the U.S., Canada, Mexico, Latin America, Europe and the Caribbean of Light Emitting Diode ("LED") commercial lighting products and fixtures for a premier LED manufacturer, Lightsky. An LED is a semiconductor device which converts electricity into light. The LED light is considered "green" because of the absence of dangerous chemicals and an accompanying significant reduction in energy consumption depending on the application, from 50% to 70% of traditional lighting products.
ForceField's subsidiary, TransPacific Energy Inc. ("TPE") has patented a technology which uses proprietary multiple component fluids that are environmentally sound, non-toxic and non-flammable. Custom formulated mixtures efficiently capture and convert heat directly from the heat source at temperatures ranging from 75° F to 950° F. TPE's technology offers applications at broader temperature ranges than other energy recovery systems. TPE's systems in certain applications reduce operating and maintenance costs thereby significantly improving return on capital expenditures thus making the purchase of waste heat recovery systems which previously yielded nominal savings, economically viable.
ForceField is a distributor for PowerOneData International, Inc. a company that provides Advanced Metering Infrastructure and ASLM solutions to the international energy markets, reducing energy resource consumption and its negative impact on the environment and public health ForceField is also a significant manufacturer and distributor of trichlorosilane ("TCS") in China. TCS is a specialty chemical primarily used in the production of polysilicon, which is an essential raw material in the production of solar cells for PV panels that convert sunlight to electricity. TCS is considered to be the first product in the solar PV value chain before polysilicon, and is also the principal source of ultrapure silicon in the semiconductor industry. For additional information regarding ForceField Energy Inc. or Transpacific Energy, Inc., please visit the companies' websites at www.forcefieldenergy.com, www.transpacenergy.com, www.lightsky-led.com.
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," "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 the company'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 forward-looking statements are the (1) efficacy of the Company's LED products, waste heat product, and other energy solutions, (2) building a strong LED distribution network, (3) the Company's ability to successfully sell its LED products and solutions to Fortune 500 companies and other enterprises and rapidly expand its business, and (4) other factors detailed in documents we file from time to time with the Securities and Exchange Commission, which are available at www.sec.gov.