NEW YORK, NY--(Marketwired - May 28, 2013) - ForceField Energy Inc. ("ForceField") (
Under the terms of the agreement, Prime has committed to purchase $15 million dollars of ForceField's Lightsky LED products during the first twelve months in order to maintain its exclusive distribution rights within Germany. The agreement is subject to reasonable annual performance measures and is subject to termination by either party. Prime will also have non-exclusive rights to distribute ForceField's LED products outside of Germany.
Upon execution of the agreement, Prime delivered a project for the installation of LED lighting products at two public schools located in Germany. The installation is scheduled to commence in the late second quarter of 2013. The overall scope of the project is anticipated to include up to 243 schools across Germany, pending the successful installation at the first two schools and needed approval by the various school districts. The complete project would require between eighteen and twenty-four months to complete.
Prime Energy Solutions will initially focus its marketing efforts on finalizing the project's commitment to include all 243 schools and their respective districts. In addition, they will target streetlights, public facilities and diverse commercial applications that could benefit from converting to LED lighting.
Richard St-Julien, ForceField's Chairman commented, "This commitment dovetails perfectly with the size and scale of projects that ForceField is currently seeking to capitalize on globally. It underscores the strength of our technology and solutions and demonstrates well the economic and aesthetic benefits of converting to LED from more traditional lighting solutions. Our agreement with Prime provides us with an opportunity to access one of the strongest markets in Europe and opens new doors to significant opportunities in both the public and commercial marketplaces. With our high quality LED products and services, we are well positioned to generate excellent growth in the LED market over the next several years."
Dr. Ulrich Fritzsche with Prime Energy Solutions stated, "ForceField provides us with high-quality and cost-efficient LED solutions that meet the significant demand in public and commercial venues within Germany and other key markets globally. We believe that this is the first of many potential opportunities to leverage the strengths of both our organizations to support the needs of our growing and diverse customer base."
Western Europe presents a strong opportunity for LED technology and energy efficient lighting. A recent presentation by FinPro, a global expert organization, reinforces this outlook by highlighting the following factors:
- Markets with energy-saving awareness and related regulations
- Need for energy cost savings
- High industrial electricity prices in Austria, Benelux, France, Germany, Italy, Spain, and UK
- High cost countries where the price differential of LED lamps is a relatively small issue
- Fast growing markets with room for new players
About Prime Energy Solutions Prime Energy Solutions is a German company whose objective is to supply its customers with innovation and energy saving systems and solutions. The focus is on consultancy, delivery and financing of solutions that lead to energy savings and cost reductions. Prime Energy Solutions sees a huge potential, especially in existing buildings and facilities, either public or commercial, to implement energy saving solutions successfully.
About ForceField Energy, Inc. ForceField Energy is a global company whose products and solutions focus on renewable energy and improved energy efficiency. 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 the exclusive distributor in the U.S., Canada, Mexico, Latin America, 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 is a distributor for PowerOneData International, Inc., a company that provides AdvancedMetering 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 or contact Richard St-Julien at (212) 672-1786.
Forward-Looking Statements 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 the forward-looking statements contained herein include (i) the Company's ability to generate significant revenues from its waste heat technology and LED lighting segments, (ii) the Company's ability to obtain adequate financing to achieve its business plan (iii) the successful installation and efficacy of the Company's LED lighting products in two schools in Germany (iv) a decision by the school district to expand the program to 243 schools, (v) the ability of Prime Energy Solutions and the school districts to finance the purchase of LED lighting for 243 schools, and (vi) other factors without limitation which are detailed in documents we file from time to time with the Securities and Exchange Commission, which are available at www.sec.gov .
CONTACT: Jeff Ramson ProActive Capital Resources Group, LLC (646) 863-6341 www.proactivecrg.com www.proactivenewsroom.com
