NEW YORK and LENOX, Mass., March 5, 2015 (GLOBE NEWSWIRE) -- ESCO Energy Services ("ESCO") a wholly-owned subsidiary of ForceField Energy Inc. ("ForceField" or the "Company") (Nasdaq:FNRG), a seller and distributor of energy products and solutions, today announced that its ESCO Energy Services (ESCO) subsidiary will be expanding its relationship with Constellation, a subsidiary of Exelon Corporation (NYSE:EXC), the nation's leading competitive energy provider, in marketing Constellation's Efficiency Made EasySM ( "EME") campaign, an innovative program designed to assist clients in implementing energy efficiency projects without up-front capital outlay. As one of Constellation's longest serving and most accomplished Channel Partners, ESCO has provided comprehensive turn-key energy efficiency services encompassing 25 projects totaling over $5 million and providing over 9,000,000 kilowatt hours in annual energy savings. Projects have been successfully completed across a diverse portfolio of facilities including commercial and industrial buildings, hospitals and universities.
Constellation's Efficiency Made Easy enables Constellation customers to implement energy efficiency upgrades at their facilities without up-front capital expenditures. The cost of energy efficiency measures is included in the price per kilowatt-hour over the term of the electricity supply agreement. In most cases, customers realize an immediate savings on energy costs from reduced energy use. Companies that offer lighting, automation controls, HVAC systems, water conservation, and other efficiency technologies, are teaming with Constellation to give their customers the flexibility to implement energy conservation measures through Efficiency Made Easy. Each EME project is tailored to the customer's needs of energy conservation and reduced consumption through numerous initiatives.
As a result of the success of the Constellation Channel Partner agreement and other corporate initiatives to date, ESCO has expanded its business development and logistical capabilities in new geographical regions, including the Southwest and West Coast. States such as California and Texas, with strong utility supported energy efficiency incentive programs, further enhance the energy efficiency paradigm. Further synergies and expanded business opportunities are provided by ESCO's California based affiliate, American Lighting & Distribution, that has a strong reputation for providing the highest quality LED lighting products and solutions across diverse customer and facility types on the West Coast.
Mitchell Barack, President of ESCO stated, "We are excited to expand our relationship and commitment to Constellation's EME offering within competitive energy markets nationally. This vehicle provides companies, organizations and real estate owners and managers with the ability to pursue sustainability goals, achieve energy savings and eliminate out of regulatory compliant equipment without up-front or budgeted capital or the requirement to commit to a lease or loan. Constellation's products and services and innovative approach to the market complement our current program offerings while opening up new opportunities for energy efficiency projects nationally."
"Constellation's EME program is designed to help customers reduce energy costs and operate in a more environmentally responsible way, while making energy conservation projects financially feasible and easier to deploy," said Evan Steiner, director of energy solutions, for Constellation. "Together with long-standing channel partners like ESCO, we provide customers with innovative and effective energy management solutions tailored to their individual goals."
Neil Miller, CEO of American Lighting & Distribution, "We look forward to rolling out the Constellation offering for projects on the West Coast. With California's high cost of electricity, customers are looking for ways to save money on their energy bills and this offering will enable them to launch lighting projects without paying any out of pocket cost."
Through electric and gas deregulation in selective states, commercial energy consumers are able to leverage their utility purchases whereby energy efficiency upgrades can be completed without upfront capital. The energy savings derived from the latest generation of fixtures and equipment more than offsets the amortized cost included in the electricity rate. Once the contract is fulfilled, the client owns the equipment and is free to negotiate new unencumbered utility contracts. Recent changes in regulations provide the opportunity in certain situations to take advantage of the EME program even where only gas deregulation exists in a state.
For further information on the Efficiency Made Easy Program and how it can assist you to achieve your firm's energy efficiency goals, please contact Constellation at 1-866-237-7693 or EfficiencyMadeEasy@constellation.com.
Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation's family of retail businesses serves more than 2.5 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (NYSE:EXC), the nation's leading competitive energy provider, with 2014 revenues of approximately $27.4 billion, and more than 32,500 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. Learn more at www.constellation.com.
ESCO Energy Services Company
ESCO Energy Services Company, Inc. is one of the longest-standing lighting retrofit companies in New England. As an industry pioneer, ESCO has an unparalleled track record of successfully completing state-of-the-art lighting conversions for federal, state, and municipal clients throughout the region and across North America. On a national level, ESCO is viewed as a company at the forefront of designing and delivering innovative LED street lighting and next-generation street light control solutions. Go to www.goesco.com or www.lightingretrofit.com.
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 and other lighting products for a number of premier LED lighting manufacturers; and through its award-winning subsidiaries, American Lighting and ESCO, have completed lighting installations and retrofits as well as energy efficiency upgrades, 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. www.forcefieldenergy.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," "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) failure to obtain adequate financing to achieve the Company's LED revenue targets and to support working capital needs; (ii) successful installation and efficacy of the Company's LED lighting products; (iii) expansion of the Company's product offerings and services to additional states across the U.S., (iv) generating additional revenue from the Company's expected national expansion program, (v) competition within the LED industry both domestically and internationally, (vi) efficacy of ESCO's streetlight product offering, (vii) generating additional revenue as a result of the expansion of Channel Partner agreement with Constellation (viii) 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.
CONTACT: ForceField Energy Inc. www.forcefieldenergy.com Richard ST Julien (212) 672-1786
Source:ForceField Energy Inc.