Revolution Lighting Technologies, Inc. (NASDAQ:RVLT) (“Revolution Lighting”), a leader in advanced LED lighting solutions, today announced that SL Green Realty Corp. (NYSE: SLG), New York City’s largest commercial property owner, has selected its Seesmart brand LED tube lamps for an LED retrofit at nine commercial office properties to save $370,000 annually in operating expenses.
“Revolution Lighting is excited to continue its relationship with SL Green to deliver significant energy efficiency and cost savings through our advanced LED lighting solutions,” said Charles J. Schafer, Revolution Lighting President and Chief Financial Officer. “SL Green’s continued use of our LED lighting products reflects market confidence in the LED industry, and our capability to deliver leading solutions through our strong distribution network.”
In 2012 and 2013, SL Green completed the first two phases of its retrofit, establishing one of the nation’s largest LED portfolio lighting retrofits totaling twenty-four commercial office properties, comprising more than fourteen million square feet. SL Green installed more than 24,000 units of Revolution Lighting’s LED products, replacing antiquated lighting technologies including incandescent, halogen and fluorescent lamps in order to save approximately $950,000 annually. SL Green’s success is already evident, having achieved a fixture failure rate of less than 0.3% of the LED lamps installed, and a project payback of only 2.5 years.
SL Green’s third phase, installing more than 6,000 units of Revolution Lighting’s LED products at nine properties totals 6.2 million square feet. Properties include 1350 Avenue of the Americas, 100 Park Avenue, 810 7th Avenue, 461 5th Avenue, 220 East 42nd Street, 100 Church Street, 180 Maiden Lane, 120 West 45th Street, and 555 West 57th Street in New York City.
“SL Green continues to work closely with Revolution Lighting and its regional distributor, Tri State LED, based out of Greenwich, Connecticut to support all facets of our project needs, including scope development, product specification, budgeting, and incentive procurement,” said Jay Black, SL Green’s Director of Sustainability. “The selection of Revolution Lighting allows us to stay ahead of the market in terms of technology adaptation, capitalizing on their premier customer service, and high quality lighting solutions that offer industry leading efficiency, longevity, and warranty.
About Revolution Lighting Technologies Inc.
Revolution Lighting Technologies, Inc. is a leader in the design, manufacture, marketing, and sale of light emitting diode (LED) lighting solutions focusing on the industrial, commercial and government markets in the United States, Canada, and internationally. Through advanced technology and aggressive new product development, Revolution Lighting has created an innovative, multi-brand, lighting company that offers a comprehensive advanced product platform. The company goes to market through its Seesmart brand, which designs, engineers and manufactures an extensive line of high-quality interior and exterior LED lamps and fixtures; Lighting Integration Technologies Inc., which sells and installs Seesmart products; Lumificient, which supplies LED illumination for the signage industry; Relume Technologies, a leading manufacturer of outdoor LED products; and Sentinel, a revolutionary patented and licensed monitoring and smart grid control system for outdoor lighting applications. Revolution Lighting Technologies markets and distributes its product through a network of independent sales representatives and distributors, as well as through energy savings companies and national accounts. Revolution Lighting Technologies trades on the NASDAQ under the ticker RVLT.