Energy Focus Facility to Remain Operational During Ohio’s “Stay at Home” Order
March 23 2020 - 9:06AM
Energy Focus, Inc. (NASDAQ: EFOI), with its headquarters and a
production facility in Solon, Ohio, has received letters from
multiple U.S. Navy shipbuilders as well as a memorandum from the
Under Secretary of Defense, Subject: Defense Industrial Base
Essential Critical Infrastructure Workforce, defining parameters
that qualify Energy Focus as part of the Essential Critical
Infrastructure Workforce and requiring the company to continue
operations.
Energy Focus is considered part of the Defense Industrial Base,
which is among the Critical Manufacturing Industries that fall
within the broader Critical Infrastructure Industries, specified in
the memorandum announced by U.S. Department of Homeland Security’s
Cybersecurity and Infrastructure Security Agency (CISA) dated March
19, 2020.
James Tu, Chairman and CEO of Energy Focus, stated: “We are in
receipt of letters dated March 20, 2020 from multiple shipbuilder
customers as well as the Under Secretary of Defense that recognize
government and military suppliers such as Energy Focus during the
COVID-19 pandemic as critical infrastructure companies. While the
State of Ohio had issued its “stay at home” order that only permits
essential businesses to stay open after March 23, 2020, our plant
will continue to manufacture and fulfill our contracts and orders,
while following the Company’s COVID-19 Contingency Plan (CCP) as
well as Centers for Disease Control and Prevention (CDC) Interim
Guidance for COVID-19 to ensure the safety and health of our
employees.”
About Energy Focus
Energy Focus is an industry-leading innovator of
sustainable LED lighting technologies and solutions. As the creator
of the first flicker-free original LED products on the U.S.
market, Energy Focus products provide extensive energy
and maintenance savings, and aesthetics, safety, health and
sustainability benefits over conventional lighting. Our customers
include U.S. and foreign navies, U.S. federal,
state and local governments, healthcare and educational
institutions, as well as Fortune 500 companies. Since
2007, Energy Focus has installed approximately 650,000
lighting products across US Navy fleet, including TLEDs,
waterline security lights, explosion-proof globes and berth lights,
saving more than four million gallons of fuel and 200,000 man-hours
in lighting maintenance annually. Energy Focus is
headquartered in Solon, Ohio. For more information, visit our
website at www.energyfocus.com
Forward Looking Statements:
Forward-looking statements in this release are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Generally, these statements can be identified
by the use of words such as “believes,” “estimates,” “anticipates,”
“expects,” “seeks,” “projects,” “intends,” “plans,” “may,” “will,”
“should,” “could,” “would” and similar expressions intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words. These
forward-looking statements include all matters that are not
historical facts and include statements regarding our current
expectations concerning and, among other things, statements
regarding the timing of when we will deliver on our contract with
DLA and the amounts we ultimately will receive from the contract.
By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. Although we
base these forward-looking statements on assumptions that we
believe are reasonable when made, we caution you that
forward-looking statements are not guarantees of future performance
and that our actual results of operations, financial condition and
liquidity, and industry developments may differ materially from
statements made in or suggested by the forward-looking statements
contained in this release. We believe that important factors that
could cause our actual results to differ materially from
forward-looking statements include, but are not limited to: market
conditions, our need for additional financing in the near term to
continue our operations; our liquidity and refinancing demands; our
ability to obtain refinancing or extend maturing debt; our ability
to continue as a going concern for a reasonable period of time; our
ability to implement plans to increase sales and control expenses;
our reliance on a limited number of customers for a significant
portion of our revenue, and our ability to maintain or grow such
sales levels; our ability to increase demand in our targeted
markets and to manage sales cycles that are difficult to predict
and may span several quarters; the timing of large customer orders,
significant expenses and fluctuations between demand and capacity
as we invest in growth opportunities; our ability to compete
effectively against companies with lower cost structures or greater
resources, or more rapid development efforts, and new competitors
in our target markets; our ability to successfully scale our
network of sales representatives, agents, and distributors to match
the sales reach of larger, established competitors; market
acceptance of our high-quality LED lighting technologies and
products; our ability to remediate our material weakness and
otherwise comply with our obligations as a public company and under
Nasdaq listing standards; our ability to attract and retain
qualified personnel, and to do so in a timely manner; the impact of
any type of legal inquiry, claim, or dispute; general economic
conditions in the United States and in other markets in
which we operate or secure products; our dependence on military
customers and on the levels and timing of government funding
available to such customers, as well as the funding resources of
our other customers in the public sector and commercial markets;
our reliance on a limited number of third-party suppliers, our
ability to obtain critical components and finished products from
such suppliers on acceptable terms, and the impact of our
fluctuating demand on the stability of such suppliers; our ability
to timely and efficiently transport products from our third-party
suppliers to our facility by ocean marine channels; our ability to
respond to new lighting technologies and market trends, and fulfill
our warranty obligations with safe and reliable products; any
delays we may encounter in making new products available or
fulfilling customer specifications; any flaws or defects in our
products or in the manner in which they are used or installed; our
ability to protect our intellectual property rights and other
confidential information, and manage infringement claims by others;
our compliance with government contracting laws and regulations,
through both direct and indirect sale channels, as well as other
laws, such as those relating to the environment and health and
safety; and risks inherent in international markets, such as
economic and political uncertainty, changing regulatory and tax
requirements and currency fluctuations, including tariffs and other
potential barriers to international trade.
Media Contact:DGI
Comm212-825-3210EnergyFocus@Dgicomm.com
Investor Contact:Hayden IRCameron
Donahue646-536-7331ir@energyfocus.com
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