TMCnet News
OTC Market Wire: - News Alert - (PINKSHEETS: ONTC): Onteco Corporation announced that its subsidiary, NexPhase Lighting, Inc. announced that it has received a contract to provide product and services to New York University (NYU)-Poly.(M2 PressWIRE Via Acquire Media NewsEdge) Subscribe to receive FREE alerts from http://www.PennyStockCircle.com To feature your publicly traded company in our alerts, email us at [email protected] PINKSHEETS: ONTC Onteco Corporation announced that its subsidiary, NexPhase Lighting, Inc. announced that it has received a contract to provide product and services to New York University (NYU)-Poly. - - June 21, 2011 - - Onteco Corporation (OTC:ONTC.ob - News), (the "Company", or "Onteco"), announced that its subsidiary, NexPhase Lighting, Inc. ("NexPhase"), a designer, developer and manufacturer of high efficiency, high quality LED intelligent lighting fixtures, announced that it has received a contract to provide product and services to New York University (NYU)-Poly. Jon Cooper, President of NexPhase, stated, "We have worked closely with Campus Green Up and NYU-Poly in the development of an array of intelligent LED lighting solutions that when deployed will provide significant energy and maintenance savings for the University. Our product was subject to a rigorous bidding and vetting process that matched our solutions to some of the biggest suppliers in the lighting industry. Ultimately our technology, service, return on investment and energy savings solutions set us apart from the other considered suppliers. The project will be a multi-phase deployment with the first installation occurring at the Donald F. and Mildred Top Othmer Residence Hall. This residence hall is an eighteen-floor structure originally opened in 2002 and currently houses over four hundred students. The first installation of product will occur in early September and we expect the Othmer phase of the project to be completed by the end of this year. This first phase will utilize over 2,500 LED lighting fixtures. The beauty of this first phase of the project is that almost all of the LED form factors that we will be installing will be deployed in other areas of the University as we advance to subsequent project stages. We are very excited to have been selected as the lighting solutions provider and are anxious to provide the University with incredible products and services that meet NYU-Poly's ie Campus transformation initiatives." NYU-Poly is the alliance of the nation's second oldest private engineering school, Polytechnic with the largest private university in the United States, NYU. The NYU-Poly Brooklyn campus has a current student population of over 1,750 full-time students and the downtown Brooklyn Campus includes: 6 Metrotech, the Jacobs Academic Building, the Rogers Hall complex, 5 MetroTech, the Bern Dibner Library Building, the historic Wunsch Building and the previously mentioned Othmer Residence Hall. These facilities along with the recently announced expansion of an additional 120,000 square feet of academic facilities at 2 MetroTech and 15 Metrotech further signal a growing and thriving world class University. NYU-Poly is already in the second year of a 10 year Thirty Eight million Capital Plan to transform, upgrade and expand its campus facilities, and NexPhase's intelligent LED lighting solutions and efficient use of best in class sensor technology provide an excellent fit for the ie initiatives that center around invention, innovation and entrepreneurship. Founded in 1854 the then named Brooklyn Collegiate and Polytechnic Institute set out to enable their students to utilize the full power of science and technology and for the past 150 years that is what the University has done. While many great scientists and engineers have graduated from this prestigious University some of the more famous graduates are: * Jasper Kane, who developed a method to mass-produce penicillin that saved hundreds of thousands of lives during World War II. * Eugene Kleiner, who led a group of young scientists in the creation of the semiconductor and in 1957 founded Fairchild Semiconductor. Fairchild Semi was responsible for creating the IC industry and the world's high-tech capital, Silicon Valley. * Jerome Lemelson, the second most prolific inventor of the 20th century with over 600 held patents that led to the inventions of the cordless phone, the fax machine, the VCR and the camcorder. * Gordon Gould, a faculty member who was one of the inventors of the laser and coined the term. * U.S. Secretary of Energy Steven Chu recently addressed the graduating class of 2011 and was awarded a doctorate of engineering honoris causa. His father was a Professor of Chemical Engineering at the Polytechnic Institute starting in 1949. About NexPhase Lighting, Inc. NexPhase Lighting, Inc. is a designer and developer of proprietary high quality LED (light-emitting diode) lighting fixtures and control systems for commercial applications. It believes its products will be the lowest cost, highest efficacy fixtures available in the LED Lighting Industry. All NexPhase lighting products incorporate its proprietary "NexSense TechnologyTM", which provides benefits well beyond the generally acknowledged advantages of all other LED lighting fixtures. NexSense control systems use a unique, "patent pending" wireless protocol, which provides for an unsurpassed reduction in architecture and infrastructure installation cost in commercial applications, as well as significantly reduced maintenance and ongoing operation costs. About ONTC: Onteco Corporation was founded to develop innovative, practical and cost-effective solutions to some of the most significant environmental challenges facing us today. Additionally, these solutions must show promise of generating significant, ongoing profits for the company. The company determined that one industry that meets these criteria is the Energy Saving Lighting Industry, and as a result acquired NexPhase Lighting, Inc., in February 2011. For additional information about ONTC, please visit http://www.PennyStockCircle.com/ONTC - - - - - - - - Forward-Looking Statements: The information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Undue reliance should not be placed on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflect our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward- looking statements if they comply with the requirements of the Act. - - - - - - - - About PennyStockCircle.com Penny Stock Circle disseminates news, press releases, and opinions on stocks with a focus on the penny stock market. We are not licensed brokers or financial consultants. The information here is believed to be reliable, but not guaranteed to be accurate by Penny Stock Circle. Please be advised that the information provided may or may not be complete and is solely for informational purposes only. This is not to be construed as an offer to sell, hold or the solicitation of an offer to buy. Investors are encouraged to seek opinions by their registered brokers or financial advisors after extensive due diligence is performed. PennyStockCircle email alert service is free service provided on our website. To subscribe to the email alert service, visit the PennyStockCircle.com To view a complete disclaimer, visit http://www.PennyStockCircle.com/disclaimer.php For additional information, please contact [email protected] ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to [email protected])). (c) 2011 M2 COMMUNICATIONS |