During the second quarter of 2013, LightCap I Fund provided approximately $4 million of funding for LED projects. Under the arrangements, Revolution Lighting was paid for the LED products through financing agreements between LightCap I and the customers who will pay back LightCap I over defined periods through a percentage of the energy and associated cost savings. Other than its normal warranty on LED products, Revolution Lighting has no direct or indirect obligation to the Fund or its customers.About Aston Capital Aston Capital is a private equity firm focused on investing in growth areas, primarily technology and government based markets. LightCap I Fund is Aston’s structured finance fund providing transaction financing for clients principally in the LED lighting sector. The targeted initial amount of $50 million is expected to come from both internal and external sources of capital. About Revolution Lighting Technologies Inc. Revolution Lighting Technologies, Inc. is a leader in the design, manufacture, marketing, and sale of light emitting diode (LED) lighting solutions focusing on the industrial, commercial and government markets in the United States, Canada, and internationally. Through advanced technology and aggressive new product development, Revolution Lighting has created an innovative, multi-brand, lighting company that offers a comprehensive advanced product platform. The company goes to market through its Seesmart brand, which designs, engineers and manufactures an extensive line of high-quality interior and exterior LED lamps and fixtures; Lighting Integration Technologies Inc., which sells and installs Seesmart products; and Lumificient, which supplies LED illumination for the signage industry. Revolution Lighting Technologies markets and distributes its product through a network of independent sales representatives and distributors, as well as through energy savings companies and national accounts. Revolution Lighting Technologies trades on the NASDAQ under the ticker RVLT. For additional information, please visit: www.rvlti.com.
Aston Capital, a limited partnership private equity firm, today announced the formation of LightCap I Fund to finance LED lighting purchases and installations for Revolution Lighting Technologies (NASDAQ: RVLT) (“Revolution Lighting”) customers. LightCap I Fund will now offer Revolution Lighting customers with flexible, customized and turnkey financing solutions that will allow them to invest in LED lighting projects and benefit from the significant savings in energy and related costs without any initial investment. The financing will generally cover all LED product purchases and associated costs, including amortization, and enable Revolution Lighting customers to retain a significant portion of the annual savings from day one. “Commercial, industrial, municipal and university customers are recognizing the significant financial savings that can be realized from the transition to solid state LED sources,” said Robert V. LaPenta, Founder, Chairman and CEO of Aston Capital. “We are creating LightCap I Fund to provide Revolution Lighting customers with the necessary capital to purchase and install LED products, a challenge that has historically kept certain customers out of the LED market. Now, they will be able to make the proven transition and quickly benefit from the financial return on their LED investment.” LaPenta concluded, “LightCap I Fund will be funded by Aston Capital as well as other investors that are interested in investing in LED lighting projects. We look forward to putting our capital to work and partnering with outside investors to fund LED projects that will deliver positive financial and environmental returns.” “This fund offers an innovative financing solution that will open up an enormous amount of market opportunities, helping to accelerate customer decisions to move forward with LED projects that will significantly reduce their energy use and costs,” said Charles J. Schafer, President and Chief Financial Officer of Revolution Lighting Technologies. “In addition, it will reduce energy and maintenance expenses that will allow Revolution Lighting customers to reinvest in other aspects of their operations and improve not only their energy efficiency, but their overall business for the long term. We are confident that LightCap I Fund will be the factor needed to move the needle in the next phase of commercial LED adoption and integration.”