NEW YORK, Nov. 20, 2013 (GLOBE NEWSWIRE) -- ForceField Energy Inc. ("ForceField") (Nasdaq:FNRG), an international manufacturer, seller and distributor of energy products and solutions, announced today that it has entered into an agreement with QSR International ("QSR"), a multi-brand Master Franchise restaurant developer with 145 restaurants located in 15 countries throughout Latin America and the Caribbean. QSR's franchise portfolio includes KFC, Quiznos, Smashburger and other popular establishments. The agreement calls for the purchase and installation of ForceField's LED lighting products at two QSR restaurants, with the potential for a roll-out of ForceField's lighting solutions across the remaining QSR International owned, operated and under-development restaurants. The installation is expected to be completed before the end of December 2013.
"The overall value of using LED lighting solutions is clear and simple for QSR International. It provides a cost-effective and environmentally friendly solution that improves our operating performance while also enhancing the customer and worker experience", stated Richard Eisenberg, President of QSR International. "ForceField offers QSR the quality, speed, and service that are perfectly aligned with our operating philosophy as a high-growth, quick-service restaurant developer, owner and operator."
David Natan, ForceField Energy's CEO commented, "Due to the high cost of electric power and long hours of operation in this type of business, the return on investment for LED installations is exceptionally fast. QSR is a well-established and rapidly expanding company operating in a competitive environment. With the installation of our high-quality and competitively-priced LED lighting products at their restaurants, QSR will save between 50 to 85 percent in annual energy costs from lighting."
"Our comprehensive, turnkey solutions offer restaurants a straightforward and simple process to retrofit to LED lighting at existing locations and to install new LED products in soon to open locations. The combination of better lighting aesthetically and lower operating costs will enable QSR to remain focused on delivering the best food and service to its customers, while driving additional profits to their bottom line." stated Richard St-Julien, ForceField's Chairman. "Our objective is for QSR to conduct a thorough evaluation of the results from the products that we retrofit at their first two locations, so that once satisfied, we can perform a rollout at each of their remaining locations using our LED products".
About QSR International
QSR International (QSR) is a 145-unit multi-brand Master Franchise restaurant developer currently conducting business in 15 countries throughout Latin America and the Caribbean.
Today, QSR owns the Master Franchise for Quiznos restaurants in Latin America and the Caribbean where they currently have 102 licensed Quiznos restaurants operating and three restaurants under development. In addition to these units, QSR has awarded and 57 additional Quiznos franchises which, through development agreement commitments, will be opened in the next several years.
QSR also owns the Master Franchise in Latin American and the Caribbean for Teriyaki Experience, a Canadian based Asian food Franchise, where QSR has eight restaurants open and five additional units committed.
In 2012, QSR obtained the rights to develop Smashburger in Central America, Venezuela, and parts of the Caribbean. QSR recently opened their second Smashburger restaurant in Costa Rica and has three additional Smashburger restaurants under development within Costa Rica, and 23 more units committed in Panama, Venezuela, and El Salvador. QSR currently is seeking additional Central American and Caribbean franchise partners for Smashburger, named "America's Most Promising Company," by Forbes Magazine in 2011.
In addition, and within Costa Rica, QSR owns, licenses, and operates 31 KFC's, 19 Quiznos, two Smashburgers, five Teriyaki Experience restaurants, one Cinnabon, and one Centenario Rum Bar & Café. In the next 12 months, QSR will open four additional KFC restaurants and three more Smashburger restaurants in Costa Rica, where QSR bases a 10,000-square-foot Restaurant Support Center employing over 110 persons.
Finally, QSR, through wholly owned subsidiaries, operates several companies, which service and supply the restaurant, hotel, and retail grocery industries. These companies include a Restaurant Supply Chain Store (Chef's Supply), an Industrial Bakery (Chef's Kitchen), and a Real Estate Investment company.
To learn more, visit www.qsr.co
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, the Caribbean and part of Europe of Light Emitting Diode ("LED") commercial lighting products and fixtures for a premier LED manufacturer, Lightsky. 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 85% 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 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, (4) completion of the LED retrofit at QSR by December 31, 2013, (5) a decision by QSR to order LED lighting at some or all of its other 145 locations and (6) other factors detailed in documents we file from time to time with the Securities and Exchange Commission, which are available at www.sec.gov.
Source:ForceField Energy Inc