TUSTIN, CA -- (Marketwire) -- 11/06/12 -- Premier Holding Corp. (OTCBB: PRHL) (the "Company") and its new CEO and president, Randall Letcavage, are proud to announce today the completion of a manufacturing and resellers agreement with Muni-Fed Energy, Inc. ("Muni-Fed").
"This transaction gives PRHL a manufacturer for our Active ES E-Series product and is expected to lead to the launch of the 'LiteOwl,'" said Letcavage. "The LiteOwl will use the Active ES technology to reduce the costs associated with powering streetlights. Finally, we now have a distribution channel direct to municipalities for the E-Series and the upcoming LiteOwl."
Letcavage continued: "This will be the first in a series of transactions designed to maximize our intellectual property and assets as we grow our company above and beyond the existing markets for our Active ES Products. Premier Holding with Muni-Fed is now in a position to pursue approximately 35 million streetlights in the US that are suitable for the LiteOwl -- a billion dollar-plus market."
Muni-Fed licenses from PRHL the US rights to manufacture and resell certain PRHL products based on intellectual property. PRHL recently acquired the intellectual property for the Active ES E-Series (energy savings technology for industrial lighting). With this agreement, the Company launches its first strategic alliance to fully leverage these assets through the Company's plan for licensing, marketing, sales and global distribution of this proprietary technology.
"In the past year, we distributed this technology with the most notable sale to Dreyer's Ice Cream, a division of Nestle USA, Inc. The average savings in three locations was over 25 percent. Now, Premier Holding Corp. has acquired the technology, and now that we own it, we intend to exploit this one-of-a-kind technology through distribution channels in many verticals," added Letcavage.
Premier's Active ES Technology is the basis for some of the most energy-efficient lighting control products within the industry for existing HID lamps, providing reliable, cost-effective solutions, with a typical 25 percent (plus) energy savings. The products based on this technology include the E-Series (energy conservation modules for commercial and industrial buildings, high bay indoor and high mast outdoor lighting), LiteHawk (energy saving lighting controls for strings of street lights, parking lot lights and lighted outdoor media signage) and LiteOwl (energy saving lighting controls for an individual street light with a standard photocell). These products allow lighting users to enjoy significant reductions in their energy consumption without the high degree of complexity, cost and risk often associated with new and ever-changing lighting retrofit strategies. Making some of the most efficient lamps in the world even more efficient, these lighting controls are elegant upgrades to existing lighting systems.
The terms of the manufacturing license allows Muni-Fed to control the manufacture of all related products in the United States for a license fee of $50,000, plus royalties, fees and profit sharing on sales. PRHL hopes the combination will bring significant revenue starting next quarter. Muni-Fed's unique relationship with the manufacturing and assembly industry makes it well qualified to take this responsibility. In addition, Muni-Fed has the exclusive right to sell the LiteOwl lighting power controller made especially for streetlights through its well-established relationships in the municipal, federal and utility provider markets. Muni-Fed becomes PRHL's main partner in opening the streetlight market for municipal and commercial accounts, which includes millions of streetlights in the USA and millions more high bay and high mast commercial and industrial lights. This agreement also allows Muni-Fed to resell on a non-exclusive basis all the remaining products, such as the E-Series, through its existing and ever-growing channel.
Letcavage further commented: "We are impressed with Muni-Fed's capabilities and existing relationships and thrilled to establish this alliance. We're looking forward to working with Phil Bowman, Clay Sandidge and the rest of the talented team at Muni-Fed. Our immediate goals are to achieve industry-wide recognition of the technology for municipal, federal and utility provider adoption and to initiate our manufacturing and expand our sales channels for all the products. Our near-immediate-term goals are to vertically integrate the lighting control technologies into other complementary energy savings technologies to provide a complete energy-conservation solution to our mutual clients."
"All of us at Muni-Fed are very excited with the license from Premier Holding and the opportunity to be working with the Company," stated Phil Bowman, president and CEO of Muni-Fed Energy. "We are extremely optimistic about the potential of success of integrating this technology wherever appropriate with the existing products and services Muni-Fed provides its clients."
About Premier Holding Corp.
The Company provides financial oversight and management expertise (which includes green building solutions, clean tech, energy efficiency) and access to capital, financing, legal, insurance, mergers, acquisitions, joint ventures and management strategies. The Company also intends to acquire clean technology companies and/or green products and services that are accretive, which can be seamlessly integrated, and utilize the overall economics of such products and services for the benefit of its customers. Through subsidiaries and/or divisions, we offer renewable energy production, energy efficiency products and services to commercial middle-market companies, Fortune 500 brands, developers and management companies of large-scale residential developments. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of solar- and wind-powered generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems. For more information, call Mark Ross, PRHL Investors Relations, at 559-799-1555.
About Muni-Fed Energy, Inc.
Muni-Fed Energy engages in renewable energy development (solar, wind, waste to energy) energy efficiency integration, consulting and financing. The company serves federal, municipal and commercial clients. Its team's experience and diverse capabilities allows them to take on challenging projects in a variety of locations ranging from commercial sites, hospitals, schools, universities and government facilities to utility-grade clean energy projects. Muni-Fed works as a comprehensive partner to its clients, from project discovery all the way through to finance and development. They align with strategic partners to deliver effective technologies and services to address energy supply, energy demand, infrastructure and financing solutions.
Premier Holding Corp. Safe Harbor
This press release contains certain statements that may include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipate," "optimistic," "intend," "will" or other similar expressions. The Company's actual results could differ materially from those anticipated in these forward- looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements.
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