|By Marketwired .||
|January 29, 2014 09:15 AM EST||
AUSTIN, TX -- (Marketwired) -- 01/29/14 -- Building Turbines, Inc. (PINKSHEETS: BLDW), developer of patented rooftop mounted Wind Turbines, and distributor of Energy Saving LED lighting, Solar and Generator Solutions through Green City Planet, a wholly owned subsidiary, is pleased to announce the signing of a contract, complete with deposit, for Star Pipe Products, to upgrade their existing lighting, to Building Turbines energy efficient LED lighting. Star Pipe has 14 locations. Each location will be different, based on size, complexity, and needs. The first location is worth approximately $120,000 gross. Some locations will need only bulbs; while others require new fixtures and installation; but the entire project is expected to be in excess of $1M. BLDW's role in this project is to supply all of the LED bulbs, through Green City Planet. A third party is performing the majority of the installation, and the manufacturer will be responsible for all warranty issues. Building Turbines has already begun supplying bulbs for the project, and first location is approximately 75% complete; according to the agent performing the installation.
Star Pipe Products has been manufacturing and distributing quality iron products for the water and wastewater industry for 30 years. With fourteen distribution centers across North America and over 300 employees, Star Pipe Products remains committed to providing customers with quality products and professional service.
"We were very impressed with Building Turbines. Their sales team and management walked us through the entire upgrade process. They did an analysis of our existing lighting and then designed an upgrade solution for us that should save around 40% on our lighting costs, all with a 2 year payback on our investment, not including the rebates and tax credits that we will receive. The federal and local incentives and rebates will almost pay for the entire upgrade. We are looking forward to a quick installation, reduction in our electric bill, and increase in the quality of our lighting at Star Pipe," stated Patrick Kilbow, Buyer for Star Pipe.
Paul Getty, Building Turbines, Inc. Advisory Board, commented, "Doing business with a company like Star Pipe shows that Building Turbines has demonstrated our ability to meet and deliver on all requirements, designs and installations of LED upgrades for all size businesses. We have many more similar size projects that we are finalizing, and many of those customers have expressed interest in our new wind turbines solution. Like Star Pipe, Building Turbine's strategy is to provide quality products and services that meet or exceed industry standards through continuously improving processes, awareness and training."
About Building Turbines, Inc.: www.buildingturbines.com
Based in Austin, Texas, Building Turbines, Inc. is focused on the design and manufacture of patented rooftop wind turbines; as well as, vertically integrating into other renewable energy solutions to complete a total Green Energy Solution for any urban environment. Building Turbines, Inc. is a publicly traded company, (PINKSHEETS: BLDW).
About Green City Planet: www.greencityplanet.com
Green City Planet, is a wholly owned subsidiary of Building Turbines Inc.; is a premier provider of LED lighting, Solar and comprehensive commercial energy efficient solutions.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
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