CARLSBAD, CA / ACCESSWIRE / June 12, 2018 / OPTEC International, Inc. (OTC PINK: OPTI), a company specializing in the distribution and acquisition of green technologies, today announced that it has signed a Letter of Intent (LOI) to acquire a proprietary next generation advanced commercial LED technology. Developed by a combination of LED lighting experts, aerospace and auto racing engineers, the new LED technology made in the U.S. will allow OPTEC International to expand its current product line and include the newly branded OPTEC™ LED division of OPTEC International.
Upon execution of the definitive agreement, the company will utilize its e-commerce and direct sales distribution channels to market OPTEC™ LED globally. The initial introduction of OPTEC LED in the U.S. will serve as a significant alternative to traditional less-efficient LED technology currently available for commercial applications. The next generation LED is more energy efficient, dark sky compliant and offers the highest light output per watt over current market competitors.
"Our acquisition of the next generation LED technology is another important step in our strategy to expand our core product offerings and bring new and innovative green technologies to worldwide markets," said Peter Sollenne, CEO of OPTEC International. "There are many issues with current LED technologies including extreme light pollution and recent medical research indications showing side effects such as retinal cancer sleeping disorders, depression and other medical side effect symptoms. Our technology not only mitigates this problem, but also offers significantly increased performance in output and energy efficiency while at the same time reducing electricity consumption."
The U.S. Department of Energy's Office of International Climate and Clean Energy estimates population growth and increased urbanization will drive a 50 percent rise in lighting demand by 2030 and recommends accelerating the global transition to advanced lighting, such as LEDs, to cut electricity consumption from lighting in half over that time. In a recent report by the Northeast Group, LED and smart streetlights are projected to reach 84% and 37% of the total U.S. streetlight market respectively by 2025 and will total a $63.5 billion market.
The acquisition of this new technology will bolster OPTEC International's product offering and further strengthen its global position as a world leader in green technologies. Once in production at the company's Carlsbad, Calif., facility, OPTEC™ LED will be a further addition to the company's current Fuel Maximizer product line. Manufacturing is expected to begin at the Carlsbad facility in August 2018 with product ready to ship by September 2018. The initial production is targeted for commercial street lighting, auto dealerships, commercial parking lot, floodlight, stadium, high bay store lighting, school & college campus, as well as horticultural and agricultural applications.
Production and sales for the Q4 2018 period of both LED and Fuel Maximizer products are anticipated to significantly increase the company's revenue and profits for 2018 and beyond.
The OPTEC™ Fuel Maximizer is a proprietary "plug-and-play" technology designed for use in modern, computer-controlled gasoline and diesel automobile and generator engines which eliminates or substantially reduces harmful emission gases while simultaneously increasing performance and optimizing fuel economy.
To learn more about OPTEC International, please visit www.optecintl.com.
About OPTEC International
OPTEC International currently holds the exclusive international license for marketing and distribution of OPTEC Fuel Maximizer products outside of North America. The OPTEC Fuel Maximizer is a patented technology solution. By improving the overall combustion process, it enables modern, combustion engines to substantially reduce unburned hydrocarbons and harmful emission while simultaneously increasing engine performance and fuel economy.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target," "intend" and "expect" and similar expressions, as they relate to OPTEC International, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.
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SOURCE: OPTEC International, Inc.
