Boston, MA 10/08/2014 (wallstreetpr) – Investors are considering panning out investments on Energy Focus Inc (NASDAQ:EFOI), soon after it barged into the daily news, with a revelation that the top notch LED lighting solutions provider, received a contract of $7.9 million from the US Navy.
Energy Focus’ Intellitube Contract
This is the second competently large order, in less than a month’s time. The order is deemed to be delivered within the first two quarters in FY 2015. It has been the first time in EFOI’s history that it has notched up a contract surpassing $7.7 billion in the month of September. The subsequent order received from the US Navy is focused on manufacturing Intellitube LED retrofit-tubes in order to serve the military’s purpose.
Target For The Order
The basis for this order lies in the presence of fluorescent sockets (including ballast, if mandatory), that needs to be replaced holistically by Intellitube. Soon after the first order is delivered in the early half of 2015, the conversion into Intellitube shall start off.
Currently, the US Navy possesses 160 naval vessels. The net projected set of Intellitubes that would completely be converted, shall represent a mere 10% of the net number of fluorescent tubes.
Company’s Views
The COO and President of Energy Focus Inc (NASDAQ:EFOI), Eric Hilliard commented that the whole EFOI team has worked diligently and gained the utmost confidence of the US Navy, with the range of services, level of discipline and optimism, and the expansion in the transformation of the US Navy fleet into Intellitube LED lighting.
James Tu, the Executive Chairman and CEO at Energy Focus Inc (NASDAQ:EFOI) added by expressing the honor and privilege from the enthusiastic and immensely supportive US Naval Command, for setting off this relationship pertaining to acceleration in the rate of conversion of fluorescent lights into Intellitube.
Apropos to the demand, with the evolution of disruptive technologies, Energy Focus Inc (NASDAQ:EFOI) is eager to embrace the innovation and warrant that they ensure broader, comprehensive, faster and not-so-seasonal adoption, in the forthcoming days.
