Nexxus Lighting Focused On Growth With PolyBrite International Agreement
CHARLOTTE, N.C., Oct. 17, 2012 /PRNewswire/ -- Nexxus Lighting, Inc. (NASDAQ Capital Market: NEXS) today announced that the Company has executed a distributor agreement with PolyBrite International. Under the agreement, Nexxus will begin offering all of PolyBrite's Borealis LED lighting solutions to Nexxus' customers.
PolyBrite International, based in Naperville, Illinois, has spent over seventeen years developing one of the most technologically advanced, efficiently designed LED product portfolios to date. Key components of the expanded product line are indoor and outdoor lighting fixtures, including state-of-the-art LED recessed flat panels, low-bay and canopy lighting systems, and area site and roadway luminaires. In addition, Nexxus will feature Borealis' new LED T8 tubes, A19, R20, R30, candelabra and other decorative lamp products along with its premier Array line of LED replacement lamps.
"Part of our strategy with Nexxus is to provide leading edge products and superior service," commented Robert V. LaPenta, Founder of Aston Capital and Board Chairman for Nexxus Lighting. "Research shows the growth for LED fixtures is expected to rise faster than that of other light source replacements. The market share for new LED fixture installations is estimated to rise from approximately 7% in 2011 to more than 45% in 2016 and approximately 70% in 2020."
"We are pleased that we were able to develop this strategic agreement with PolyBrite," continued Mr. LaPenta. "We will continue to explore other strategic initiatives, including joint development, international sourcing and acquisitions in order to maximize growth opportunities and minimize costs.""This Agreement allows Nexxus to provide a broader range of lighting solutions to the commercial, industrial, institutional and municipal markets," added Mike Bauer, President and CEO of Nexxus Lighting. "By partnering with PolyBrite, we quickly and efficiently added a full assortment of complementary bulbs and new luminaires with new technology that is clearly differentiated." Nexxus is a leader in high performance LED replacement light bulbs and LED linear lighting solutions sold under its Array® Lighting and Lumificient product lines. The Company holds 43 issued U.S. and foreign patents and has 30 patent applications pending. Nexxus is committed to leading edge design and introducing LED products that set the standard in the industry in terms of performance and reliability. This strategic relationship with PolyBrite is expected to take Nexxus to the next level.
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