(Marketwire Via Acquire Media NewsEdge) NEW YORK, NY -- (Marketwire) -- 03/12/13 --
ForceField Energy Inc. ("ForceField") (OTCQB: FNRG), an international manufacturer, seller and distributor of energy products and solutions, and PowerOneData International, Inc.("PowerOneData"), today announced the signing of a cross-distribution agreement whereby each company will represent and sell each other's energy efficiency products and solutions in the United States, Canada, Mexico, and Latin America. PowerOneData will initially focus on distributing the LED products and solutions in conjunction with its Automated Street Light Management (ASLM) system, and ForceField will focus on the distribution of the PowerOneData's smart meters, Genii™ advanced Database Management Software and other related products and software.
PowerOneData provides Advanced Metering Infrastructure (AMI) and ASLM solutions to the international energy markets, reducing energy resource consumption and its negative impact on the environment and public health. PowerOneData's AMI system ingenuity was designed for implementation by utility companies, enabling low-cost, real-time data capture and retrieval capabilities for monitoring millions of fixed residential, commercial and Industrial energy meter endpoints. Smart meters, in concert with a meter data management software system, not only assists utilities in reducing transmission distribution losses, but also in the recovery of revenue and management of peak load capacities, reducing generation expense and operating costs. PowerOneData currently has contracts internationally valued at more than $600 million.
Worldwide smart meter shipments surpassed 20.6 million units in the fourth quarter of 2012, representing year-over-year growth of 182.7% and a 33.9% increase over the third quarter of 2012, according to the IDC Energy Insights Worldwide Quarterly Smart Meter Tracker.
"The cross-distribution agreement with PowerOneData further demonstrates the strength and quality of our current LED products and services, and the growing market need for new and complementary energy efficiency solutions," said Richard St-Julien, ForceField's Chairman, "This agreement provides a new potential revenue growth driver for the Company including the ability to expand our portfolio with complementary products, as well as further increasing our distribution network to address a broader customer base in our core geographic markets."
Mr. St-Julien concluded, "We are already actively pursuing a multi-million dollar smart metering request for proposal, immediately demonstrating the potential synergy and opportunity of this relationship. The combined solution will enable the monitoring of power consumption, theft of power and faulty lamps with immediate notification of problems. As customers continue to look for innovative energy efficiency solutions that reduce operating costs, increase return on investment and are more environmentally sound, we are confident we can deliver strong growth over the coming years."
Mr. Phil Nuciola (www.philnuciola.com), PowerOneData International's Chairman and CEO, stated, "This cross-distribution agreement is an important agreement for PowerOneData International, supporting our strategy and goal of providing the best quality end to end solutions for AMI and ASLM projects around the world. We appreciate the opportunity of being able to use our competencies to provide ForceField's clients with such solutions; as well as the opportunity to offer PowerOneData's clients a wide array of indoor and outdoor LED lighting products to our existing client base."
About PowerOneData International, Inc.(www.p1di.com) PowerOneData International, Inc. is a Smart Grid company that offers Advanced Metering Infrastructure (AMI) and Automated Street Light Solutions (ASLM). The Company offers its automated smart meters, data concentrator units, and its Genii™ Meter Data Management software to utilities, municipalities and systems integrators within the energy industry around the world. PowerOneData International's unique AMI solutions are poised to revolutionize energy distribution management on a worldwide basis through best of breed hardware, firmware, and its cloud based agnostic Genii ™ Meter Data Management software.
PowerOneData's ASLM solutions remotely track and control the actual energy consumption of LED street lights and take appropriate energy consumption reduction measures through power conditioning and control. The ASLM system will switch on-off the lights at required timings and control the LED street lighting depending on traffic flow, communicating data between each street light along the power-line and allowing for remote monitoring and control.
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 degrees F to 950 degrees 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 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 Company's ability to cross-market PowerOneData's products and generate revenue (iv) PowerOneData's success in marketing and selling ForceField's LED products (v) and 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.
ProActive Capital Resources Group, LLC
Source: ForceField Energy Inc.