STAMFORD: Revolution Lighting Technologies, Inc. [Nasdaq:RVLT] announced that its operating division, Energy Source, has been named a program contractor within a new Small Business Energy Advantage Program (SBEA) administered by The United Illuminating Company. The program is designed to help commercial and industrial customers with peak energy demand between 10kW and 200kW per month to save money by identifying and offering cost-effective energy efficient turnkey solutions.
Since 2009, Energy Source has implemented energy reduction programs within several Massachusetts small business programs managed by Eversource, National Grid and UNITIL.
Energy Source's territory within this new program will cover 18 Connecticut towns -- Ansonia, Bridgeport, Derby, East Haven, Easton, Fairfield, Hamden, Long Island Sound, Milford, New Haven, North Branford, North Haven, Orange, Shelton, Stratford, Trumbull, West Haven, and Woodbridge -- supporting approximately 20,000 commercial and industrial customers with energy efficient retrofit opportunities. This includes the installation of high efficiency lighting solutions, including Revolution LED products that the company says are “capable of reducing existing lighting energy use by more than 65%.”
SBEA program contractors enable small businesses to reduce energy costs by identifying and implementing cost-effective energy efficient opportunities, promote education to encourage replacement of existing equipment with high efficiency options and procure financial incentives. The program will address technologies including lighting, controls, HVAC and motor upgrades, refrigeration controls, and other measures to reduce both electric and gas consumption. The program is funded by The Connecticut Energy Efficiency Fund.
Robert V. LaPenta, CEO of Revolution Lighting, said of the agreement, "we look forward to working closely with the many businesses throughout the state, offering multi-measure energy efficiency opportunities, including LED lighting, to help them reduce long term operational costs."
Revolution Lighting was selected as the fastest growing technology company in Connecticut 2016 by the Connecticut Technology Council. The company says it has completed more than $25 million worth of projects for small businesses in 2016.