CRS Electronics MR16 approved by two major utility rebate programs in US
Welland, Ontario - CRS Electronics Inc. ("CRS"), (TSX VENTURE:LED), an inventor, developer and manufacturer of LED lighting, is pleased to announce that two undisclosed major electric utilities in the US have approved the CRS LED MR16 lamps for an incentive program offered to their commercial customers. The CRS lamp currently is the only LED MR16 approved for a rebate under their program. The Company anticipates shipping product in the first quarter of 2011 with orders starting to be placed over the next month as the utilities roll out the program to their commercial customers.
"The quality and performance of our products continues to be our competitive edge. Producing LED MR16 replacement lamps which exceed the performance standards prescribed by major utility suppliers for a rebate approval has always been a top priority at CRS," said Scott Riesebosch, President, CRS Electronics. "Customers that qualify for the rebate in these regions will be able to purchase our product at a small fraction of the regular cost, creating a substantial, solid value proposition for their businesses. They can enjoy the benefit of ongoing energy cost savings of approximately 80% and have the highest quality of light available in an LED MR16 lamp on the market today."
The two undisclosed major utilities service a combined area of more than 100,000 sq. mi. in 40 counties within the continental United States. The opportunity for CRS to capitalize on these rebate programs is significant.
CRS Electronics Inc., an Energy Star and Lighting Facts partner, is a leader in the emerging, rapidly-growing market of high efficiency light-emitting-diode ("LED"), or, solid state lighting ("SSL"). The principal activities of CRS include the development, manufacture and sale, primarily in North America, of indoor and outdoor lighting such as LED replacement lamps, LED streetlights, exterior LED warning lights on school buses, child safety systems for school buses and contract manufacturing of LED circuit boards. CRS is a well-established supplier to both the school bus industry and the LED contract manufacturing industry, providing a stable and growing revenue source. CRS plans to be a major supplier of LED light engines for a variety of applications to be developed by CRS on its own and in conjunction with its customers. Several of CRS's customers use CRS LED MR16 lamps to replace up to 50 watt halogen MR16s.
Debbie Bamforth Corporate Communications 905-599-3322