NEW YORK, NY (Accesswire - September 9, 2013) - ForceField Energy Inc. ("ForceField") (OTCQB: FNRG), an international manufacturer, seller and distributor of energy products and solutions, today announced the signing of a three year distribution agreement with First Choice Energy Ireland ("FCEI") a global supplier of energy solutions. Under the terms of the agreement, FCEI will sub-distribute ForceField's full product line of energy efficient Lightsky LED products in Ireland; and FCEI will have a minimum purchase commitment over the first 90-days of $250,000 and a $12.0 million over the first 12-months of the agreement, to retain its exclusivity rights in Ireland. If the commitments are not met, FCEI will immediately revert to a non-exclusive global sub-distributer.
FCEI has already targeted numerous industrial plants, a major hotel group, a division of a Fortune 500 company and municipalities as candidates for LED retrofits and installations; and is in preliminary discussions with proposals submitted and upcoming trials with a number of these entities to install ForceField's LED products.
Dr. Shane Mullarkey, with FCEI stated, "Ireland continues to make strides in building its infrastructure to support sustainable long-term growth. As such, there is a drive for improved energy efficiency in both commercial and home settings which is driving increased demand for LED products and solutions in Ireland and throughout Europe. LED lighting can reduce costs by up to 85% with equivalent or better performance and lighting characteristics. Switching to LED not only reduces electricity costs but it will also make a positive contribution to all of the environmental indicators that businesses are measured by today, such as lowering energy use and reducing carbon emissions. With ForceField's excellent LED lighting solutions and our significant initial progress with a number of clients, we are confident we can meet the growing needs in the market."
Richard St-Julien, ForceField Energy's Chairman commented, "This is a significant initiative in a high growth market for LED products. We continue to attract strong sub-distribution partners in key markets around the world providing further evidence for the relative strength and quality of our LED products and services. We remain focused on leveraging our distribution partners to gain share in North America, Latin America and Europe and believe we are making steady progress building broader relationships that should result in larger contracts and sustainable growth in revenue and profitability. We look forward to working with FCEI as they move aggressively to penetrate the LED market in Ireland."
Based on the Sustainable Energy Authority of Ireland ("SEAI") LEDs are rated as highly efficient and allow extraordinary design flexibility. Payback times are project-specific, but in some cases are less than one year.
About First Choice Energy Ireland ("FCEI")
First Choice Energy Ireland is solutions based company focused on providing energy savings, cost reductions and solutions to its clients. FCEI provides its clients with a complete lighting design service which entails consultation, lighting survey and proposal, customized energy performance contracts, access to finance and full project management, leading to the successful implementation of energy saving solutions for its clients. FCEI sees significant market opportunities in Ireland, especially in existing building and facilities management, either public or commercial. The FCEI team boasts a cross strain of experiences. Dr. Shane Mullarkey brings over five years of experience in the field of energy economics and green energy efficiency. He has authored and co-authored numerous journal and conference papers in the energy field and has collaborated with the Sustainable Energy Authority of Ireland (SEAI). Dr. Mullarkey's business partners include David Lyons and Darren Doyle who have a combined 15 years of experience in offshore financial sales and consulting and Padraic Dempsey who has an extensive banking and private client consulting background.
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 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 or contact Richard St-Julien at (212) 672-1786.
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 and profits from its waste heat technology and LED lighting segments, (ii) the Company’s ability to obtain adequate financing to achieve its LED and waste heat technology business plan (iii) the successful installation and efficacy of the Company’s LED lighting products in Ireland, (iv) a decision by FCEI’s targeted customers to purchase LED lighting, (v) the ability of FCEI to finance the purchase of LED lighting for its customers, (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.
Richard ST Julien
SOURCE: ForceField Energy Inc.
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