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ENERGY FOCUS, INC.

(EFOI)
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Energy Focus : Enters Marketing Partnership with FirstEnergy

06/14/2021 | 09:26am EDT

* Offering Turnkey Human-Centric Lighting Retrofit Solutions and nUVo UV-C Disinfection Products to FirstEnergy Customers

Energy Focus, Inc. (NASDAQ:EFOI), a leader in sustainable and human-centric LED lighting technologies, entered into a marketing partnership with FirstEnergy Advisors and FirstEnergy Home, a subsidiary of FirstEnergy Corp.("FirstEnergy") (NYSE:FE), one of the largest investor-owned utilities in the country with more than 6 million customers, offering advanced LED and UV-C disinfection products and solutions to FirstEnergy customers

The marketing partnership will offer Energy Focus' Total Solutions ("Total Solutions"), a new, turnkey human-centric lighting (HCL) retrofit service backed by Energy Focus', lighting and UV-C disinfection products, to approximately 1.2 million commercial and industrial customers in the FirstEnergy footprint. The partnership will also offer Energy Focus' nUVo(TM) UV-C air disinfection products, starting with nUVo(TM) Tower and nUVo(TM) Traveler, via FirstEnergy Home's e-commerce platform to FirstEnergy's more than 5 million residential customers.

Total Solutions provides energy savings and improved workplace lighting quality by retrofitting conventional fluorescent or less efficient LED lighting fixtures with Energy Focus' HCL and LED lighting systems across the commercial and industrial markets. Total Solutions will feature the patent-pending, network-secure EnFocus lighting control platform of wall switches and LED lamps, along with the new UV-C Disinfection products portfolio. EnFocus' circadian-ready, human-centric lighting technology is flicker-free, dimmable, and color-tunable, enhancing workplace well-being in addition to creating energy savings. Energy Focus' leading and expanding UV-C disinfection product portfolio, including the abUV(TM) HCL troffers that provide both flicker-free, dimmable, and color-tunable light as well as UV-C disinfection capability, will also help businesses and organizations disinfect buildings and improve air quality, making public spaces safer to access. Partnering with a network of certified Energy Service Companies (ESCOs) and lighting retrofit contractors (LRCs), Total Solutions will provide the full gamut of lighting retrofit services, including lighting audits, proposal generation, financing as well as manage the installation and ongoing maintenance of the installations.

The nUVo(TM) UV-C air disinfection products, which are specifically designed and developed to intercept and inactivate live virus in real-time, will be available via FirstEnergy Home's e-commerce site, providing a powerful and portable solution to inactivate and destroy infectious pathogens such as coronavirus and influenza for homes and businesses with 99.9%+ effectiveness.

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(C) 2021 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
ENERGY FOCUS, INC. -1.84% 3.74 Delayed Quote.-7.20%
FIRSTENERGY CORP. 0.71% 38.32 Delayed Quote.25.19%
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Financials (USD)
Sales 2021 18,8 M - -
Net income 2021 -5,32 M - -
Net Debt 2021 - - -
P/E ratio 2021 -3,53x
Yield 2021 -
Capitalization 19,0 M 19,0 M -
Capi. / Sales 2021 1,01x
Capi. / Sales 2022 0,75x
Nbr of Employees 58
Free-Float 89,2%
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Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 3,74 $
Average target price 11,00 $
Spread / Average Target 194%
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Managers and Directors
James Tu Chairman & Chief Executive Officer
Tod A. Nestor President & Chief Financial Officer
John M. Davenport Chief Scientist
Geraldine Frances McManus Independent Director
Jennifer Y. Cheng Independent Director
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