Top News: July 14th 2012 marks the Department of Energy ban on almost 1 billion T12 Fluorescent Tubes. As a response to the ban, Independence LED launches a groundbreaking $10 million CASH for CLUNKERS Lighting program.
See Program Details for End Users and Authorized Resellers
Industry Trends:
Energy Smart Financing: Given the prolonged recession, financing is increasingly key to selling energy reduction products. As the size of LED purchase orders has increased, so too have the requests for financing. Independence LED has multiple financing partners that have reviewed the technology and provide equipment leasing with cash flow positive results, starting at tiers from $250,000 to $5 million. In certain cases, property owners or distributors ask about single property or “Pilot” programs, and Independence LED now has a financing partner for projects under $250,000. On June 12th, we received approval from a new financing partner for a $70,000 order. This is not as large as other recent $250,00 installations and $350,000 purchase orders, but it is a key trend in that the end user has a $0 out of pocket cost for the retrofit.
International Demand: Given the increasing demand by overseas Distributors, Independence LED, submitted its line of LED Tubes for CE (Conformity European) approval, which was granted after the appropriate review criteria.
Government Initiatives: The General Services Administration manages the leases for over 100 Government Agencies totaling over 170 Million Sq. Ft. of space. Independence LED has partnered with multiple different groups with statuses ranging from Disabled Veterans to Women Owned Businesses in order to secure a listing on the coveted GSA Schedule. The Independence LED Tubes are slated for the GSA Schedule release in Q4 of this year, which times out well with the GSA’s March 22, 2012 announcement of the Deep Retrofit Challenge for 17 million sq. ft. of commercial space.
Private Sector Commitment: Through a Better Buildings Challenge, more than 60 private companies, hospitals, cities, states, and colleges have collectively committed to $2 billion in energy efficiency retrofits to 1.6 billion sq. ft. of property. A Green Building Council and Booze Allen Hamilton Report1 identifies that energy smart buildings can save about $.50 per sq. ft. per year, and green construction would generate an additional $554 billion in GDP, support over 7.9 million jobs, and provide $396 billion in labor earnings. With over 70 billion sq. ft. of non-residential property, according to the U.S. Census, the savings potential is over $30 billion annually.
Sample Market Traction:
Fortune 100: After two year of working with MetLife and Morgan Stanley, we are pleased to announce that this spring MetLife ordered our LED Tubes for three more buildings and Morgan Stanley has ordered our tubes as well for one of their New York City properties.
Distribution Centers: We recently completed the retrofit of the 209,000 sq. ft. Davis & Warshow (D&W) facility with over 2 Miles (38 football fields) of our LED Tubes. The project has achieved three key benchmarks: D&W is the FIRST facility in America with a "Net Zero Cost of Lighting" through the combination of Solar and LED Tubes, the MOST ENERGY EFFICIENT Lighting in watts per square foot of any Distribution Center in America, and the LARGEST single facility LED Tube retrofit in America to date. D&W has been approved for a $62,000 Rebate from Con Edison and the Check Presentation event is scheduled for the late summer/early fall 2012. For Photos and Details, see the Case Study
Specified Products: Cushman & Wakefield is the property management group that services MetLife. Cushman & Wakefield has specified the Independence “Eagle” LED Tubes for their MetLife account, and we are seeing this as a growing trend. From a New York health care provider to the Treasure Island Municipality in Florida, advisors and energy analysts are specifying our LED Tubes over fluorescent tubes and other lighting options for the growing number of energy saving initiatives across the U.S.
New Distributors: Colonial Electric Supply has over a dozen locations across Pennsylvania, Delaware, New Jersey, and New York. Colonial sells over $150 million in annual electric supplies and has a reputation for service excellence dating back to 1972. Independence LED is pleased that on the 40th anniversary of its founding, Colonial has chosen to add the American Made LED Tubes and Multi-Tube Fixtures to its roster of other top quality products. See more on Colonial Electric Supply and other New Distributors.
In the News:
CASH for CLUNKERS Lighting: On June 14th, Independence LED launched the $10 million incentive program and the media quickly picked up on the story with regional coverage from clean energy hubs like Sacramento to national coverage on Yahoo Finance.
MADE in AMERICA Panel: Chairman and CEO Charlie Szoradi was invited to speak at the May 23rd event for the ‘MADE in AMERICA Panel’, with ABC World News weekend Anchor Brian Muir. The event was held at the Hilton Ballroom for almost 400 business leaders. The next day, Mr. Szoradi also spoke as one of six clean energy company CEOs at the Association of Energy Engineers (AEE) event at the Harrah’s Casino.
New Growth:
Independence LED reports that “2011 LED Tube sales grew nearly 300% from 2010”
See the News Story on Select Greater Philadelphia “Made in U.S.A. LED Tubes Gain Market Share over Chinese Imports” and on the Business Journals.
Highlights:
New Location: On June 15th, Independence LED completed the move of our Corporate Headquarters to a new location with additional space for growth and a more advanced training area for our LED Boot Camp. The new address is 487 Devon Park Drive, Wayne, PA 19087 Suite 204. The location is conveniently located in Greater Philadelphia on the Northeast Corridor just off the Pennsylvania Turnpike and with easy access to I-95.
More Engineering Expertise: Glenn Baker joins Independence LED as Director of Engineering. Mr. Baker has over 25 years of experience as a project leader and technical innovator on cutting edge technology. Mr. Baker is a graduate of Stevens Institute of Technology with a Bachelor of Engineering in Engineering Physics. He earned his Master’s of Science in Applied Optics from Tufts University. See more on Glenn Baker.
Independence LED: Since bringing its LED Tube manufacturing from China to Boyertown, PA in Q2 of 2011, the Company has seen 300% Annual Growth. Customers range from industrial distribution centers to Fortune 100 companies and from independent businesses to national chains. In 2011, the Company won the Green Business of the Year Award from the Main Line Chamber of Commerce. For Technology, Photos, and Videos see the Independence LED Boot Camp.
