TROY, Mich., Oct. 31, 2012 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (Pink Sheets:VPER) is pleased to announce positive developments for both LED lighting pilot programs with Sri Lanka's Ministry of Fisheries and Aquatic Resources; and with Colombo city officials representing the largest metropolitan area in Sri Lanka.
Positive developments are two-fold, as the time period for each pilot project is expected to be reduced by at least 50 percent, to 30 days maximum for each pilot installation and testing program, respectively; and manufacturing capabilities for the Company's exclusive partner Apollo Metro Solutions are quickly ramping up to achieve greater production capacity by mid-December.
While the Company seeks to install indoor lighting and street lights for all of Sri Lanka's 18 existing harbors and 11 new harbors under construction, the anticipated agreement (upon pilot project completion) for approximately 100 to 200 indoor lights and street lights per location represent the much smaller of the two pilot programs.
The Company's priority to establish significantly increased manufacturing capacity with Apollo Metro reflects in part, Viper Networks targeting much larger LED Street Light municipality clients for economically fast growing countries with major cities abroad, as well as a domestic focus on securing agreements with certain municipalities with multiple cities and towns within one or more U.S. counties for potential large scale LED street light replacement business.
As detailed in the announcement dated October 10, 2012; the Company has reached agreement with top officials of Colombo, Sri Lanka to initiate a short-term pilot program for testing Apollo Metro Solutions' LED Street Lights with installations along one main boulevard in Colombo, the country's provincial capital and largest metropolitan area with approximately 1.5 million people.
The Sri Lanka Ministry of Fisheries pilot program could lead to a total order of 2,000 to 3,000 indoor and street light installations for all existing harbors, however; the city of Colombo's LED Street Light pilot program is expected to lead to full order estimates totaling approximately 200,000 LED Street Light units for Colombo alone.
In a country with a population in excess of 20 million people, Sri Lanka hosts a concentration of citizens in 15 major cities throughout the country's 9 geographical provinces. Since Viper Networks' CEO is conducting business with Sri Lanka government officials, LED street light testing and installation success is expected to lead directly to securing additional agreements with other major cities throughout the country.
Sri Lanka officials have requested that the forthcoming LED Street Light pilot project for Colombo include the all-in-one street light housing unit option for wireless utility meter reading and advanced metering infrastructure solutions. Noting such confirmation, Viper Networks CEO will be traveling to Colombo, Sri Lanka to accompany the first delivery of LED street light units in the month ahead, which will include the wireless meter reading feature built-in to the all-in-one housing unit, and meet with Sri Lanka officials as the Company begins the anticipated LED Street Light pilot project prior to commencement of a city wide roll-out shortly after pilot success.
If the Company is able to obtain the additional wireless meter reading option approval after review by Sri Lanka's Minister of Water Management, shareholders and potential investors should note that each LED Street Light priced in the range of $500 to $1000 will more closely price out at the latter figure per unit.
Based on the minimum of 10,000 street light unit installations monthly, the potential gross value monthly amount will be approximately $7,500,000 to $8,000,000 (per month), which will continued for approximately 20 months and potentially represent a total value of up to $150 million (U.S. dollars), as it relates to the complete delivery and installation of all 200,000 LED street lights.
The Company encourages all investors and Viper Networks shareholders to view all LED Lighting and Intelligent Solution products at www.ApolloMetro.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development of new business opportunities, zero operational impact and projected costs, future operations, revenue, profits, gross margins and results of operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
CONTACT: Investor Relations: Heritage First Capital (Greater Orlando) Scott Gibson, 1.407.444.5959
Source:Viper Networks, Inc.