Evolucia CEO Releases Shareholder Update
SARASOTA, Fla., Feb. 19, 2013 /PRNewswire/ -- Evolucia Inc., (OTCBB & OTCQB: ILED), a global leader in the development and commercialization of high performance LED (light emitting diode) lighting systems, released today the following update to shareholders from its Chief Executive Officer, Mel Interiano:
February 19, 2013
I am pleased to report to our shareholders today that we have finalized a partnership with OSRAM Mexico to develop, market and deliver the OSRAM ProPoint™ LED Cobrahead fixture using Evolucia Aimed Optics™ for the Mexican marketplace. OSRAM is the second largest lighting company in the world and we believe this partnership will allow Evolucia to be a major player in this rapidly growing market. Currently, there is an estimated 20 million street lights in Mexico with a market potential of $6 billion based on current prices. We are working diligently with OSRAM in our hope to potentially deliver tens of thousands of these new LED Aimed Optics™ Cobrahead fixtures to Mexico over the coming months. Importantly, all development work for these products has been completed, and the fixtures are now being manufactured for delivery and installation onto roadways in Mexico beginning this year.
In July, 2012, we announced the finalization of our partnership with Leader Electronics. Leader is a global contract manufacturing company with quality and environmental certifications that include ISO9001, TL9000, QS9000, TS16949, TQM (Total Quality Management) and Six Sigma Black Belt certifications. Leader is also certified as one of the Energy Star Member Laboratories, and currently provides contract manufacturing services to a number of Fortune 500 electronics companies. Through our partnership with Leader, my goal was to begin mass manufacturing and shipping of our LED lighting products by the end of 2012. While I acknowledge that we narrowly missed our stated goal, I can report to our shareholders that our first mass manufacturing facility has now been independently audited and certified to begin production of our next generation LED fixtures, with our first shipments to be delivered to our customers this quarter. We will continue to work with Leader to expand production capacities and integrate additional facilities from their network as distribution necessitates.
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