(FNRG) Partners with the Louisiana Nursing Home Association Over LED Lighting
Market Comprised of 80,000 US Nursing Homes and Long-Term Care Establishments
NEW YORK, NY (September 30, 2013) ForceField Energy Inc. (“ForceField”) (OTCQB: FNRG), an international manufacturer, seller and distributor of energy products and solutions, today announced the signing of a consulting and sales agreement for LED lighting products with LNHA Service Corporation servicing the Louisiana Nursing Home Association’s Member (“LNHA”), a non-profit federation representing more than 250 nursing facilities and assisted living communities that care for approximately 30,000 elderly and disabled individuals. LNHA will support the marketing and sales efforts with its existing members, as well as, assist in penetrating the approximate 80,000 U.S.-based nursing homes and long-term care establishments with combined annual revenues approximating $200 billion.
Many LED adopters have based their decision largely on safety aspects. The typical nursing home’s lighting is often inadequate and does not meet the needs of its residents. Furthermore, leading medical studies on major depressive disorders in elderly individuals have shown that using bright light treatment may improve mood, sleep, and hormonal rhythms in these patients. Better lighting in nursing homes could potentially enable residents to be more independent, while simultaneously reducing the demand on the facility’s staff.
Myron Chatelain, LNHA’s Service Corporation Manager remarked, “Improving staff efficiency, lowering operating costs, and enhancing safety first provide significant value to long-term care facility operators and their residents, and second addresses the key challenges that the industry faces as a result of the increased health needs of its residents and reimbursement pressures. In the light of these challenges and through the significant benefits available with LED lighting, we are confident that by partnering with ForceField we can accelerate the adoption of LED lighting in the market.”
Richard St-Julien, ForceField Energy’s Chairman commented, “The long-term care and healthcare markets represent significant opportunities given the continued aging of the general, domestic population and the push for greater efficiency by healthcare providers. With their more than 55 years of industry experience, we are proud to partner with a respected leader such as LNHA that clearly understands the needs of both the patients and facility of long-term care facilities. We are confident that the insight and accessibility LNHA brings to this partnership will enable us to increase awareness as to the many benefits of LED lighting and provide us with significant revenue opportunities for our products and services.”
About the US Nursing Home and Long Term Care Industry
The US nursing homes and long-term care facilities industry includes about 80,000 establishments (single-location companies and branches of multi-location companies) with combined annual revenue of about $200 billion. A key driver of demand is the aging population. Between 2015 and 2030, the number of Americans 65 and over is expected to increase to around 72 million (Based on First Research, a division of Hoover’s Inc.). According to the Center for Medicare and Medicaid Services, persons 75 years of age and older spend 60% more on healthcare than those 65-74 and 200% more than the population average. An increase in the number of older Americans is expected to fuel a large increase in demand for health care services and health care properties.
Demand for nursing care is linked to the demographics of the US population. The profitability of individual nursing facilities depends on efficient operations, as revenue per patient is largely controlled by the government insurance programs, Medicare, and Medicaid. Large companies have some economies of scale in administration and purchasing, but small operators can compete effectively by offering better service. The US industry is fragmented: the 50 largest companies account for about 20 percent of revenue.
About Louisiana Nursing Home Association (LNHA)
LNHA was founded in 1957 on the premise that members have a moral obligation to the residents they serve. LHNA is a non-profit federation representing more than 250 non-profit and for-profit nursing facilities and assisted living communities that care for approximately 30,000 elderly and disabled individuals each day. On behalf of our members, LNHA advocates for providing quality care and nurturing environments to Louisiana’s frail and elderly. LNHA is dedicated to serving the needs of our membership by providing public policy advocacy, education, professional development, quality initiatives and various other services. These tools allow members to offer the highest practicable measure of care to their residents. http://www.lnha.org/
About ForceField Energy, Inc.
ForceField Energy is a global company whose products and solutions focus on renewable energy and improved energy efficiency. ForceField’s subsidiary, TransPacific Energy Inc. (“TPE”) has patented a technology which uses proprietary multiple component fluids that are environmentally sound, non-toxic and non-flammable. Custom formulated mixtures efficiently capture and convert heat directly from the heat source at temperatures ranging from 75° F to 950° F. TPE’s technology offers applications at broader temperature ranges than other energy recovery systems. TPE’s systems in certain applications reduce operating and maintenance costs thereby significantly improving return on capital expenditures thus making the purchase of waste heat recovery systems which previously yielded nominal savings, economically viable. ForceField is the exclusive distributor in the U.S., Canada, Mexico, Latin America, and the Caribbean of Light Emitting Diode (“LED”) commercial lighting products and fixtures for a premier LED manufacturer, Lightsky. An LED is a semiconductor device which converts electricity into light. The LED light is considered “green” because of the absence of dangerous chemicals and an accompanying significant reduction in energy consumption depending on the application, from 50% to 70% of traditional lighting products.
ForceField is a distributor for PowerOneData International, Inc. a company that provides Advanced Metering Infrastructure and ASLM solutions to the international energy markets, reducing energy resource consumption and its negative impact on the environment and public health ForceField is also a significant manufacturer and distributor of trichlorosilane (“TCS”) in China. TCS is a specialty chemical primarily used in the production of polysilicon, which is an essential raw material in the production of solar cells for PV panels that convert sunlight to electricity. TCS is considered to be the first product in the solar PV value chain before polysilicon, and is also the principal source of ultrapure silicon in the semiconductor industry. For additional information regarding ForceField Energy Inc. or Transpacific Energy, Inc., please visit the companies’ websites at http://www.forcefieldenergy.com/, www.transpacenergy.com, www.lightsky-led.com.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed in this press release are forward-looking. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “future,” “plan” or “planned,” “expects” or “projected.” These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company’s control that may cause actual results to differ materially from stated expectations. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include i) the Company’s ability to generate significant revenues and profits from its waste heat technology and LED lighting segments, (ii) the Company’s ability to obtain adequate financing to achieve its LED and waste heat technology business plan (iii) the successful installation and efficacy of the Company’s LED lighting products (iv) a decision by LNHA’s members to purchase LED lighting, (v) the ability of LNHA’s members to finance the purchase of LED lighting (vi) other factors without limitation which are detailed in documents we file from time to time with the Securities and Exchange Commission, which are available at www.sec.gov.
Contact information
ForceField Energy Inc.
Richard ST Julien
212-672-1786
www.ForceFieldenergy.com
Mission Investor Relations
Sherri Franklin
404-941-8975
www.MissionIR.com
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