USA: ForceField Energy Inc. has signed a three-year sub-distribution agreement with Prime Energy Solutions AG, a Wiesbaden, Germany consultancy company focused on the energy sector, and received an order for the sale and installation of LED lighting products at two public schools in Germany.
Under the terms of the agreement, Prime has committed to purchase $15 million dollars of ForceField's Lightsky LED products during the first twelve months in order to maintain its exclusive distribution rights within Germany. The agreement is subject to reasonable annual performance measures and is subject to termination by either party. Prime will also have non-exclusive rights to distribute ForceField's LED products outside of Germany.
Upon execution of the agreement, Prime delivered a project for the installation of LED lighting products at two public schools located in Germany. The installation is scheduled to commence in the late second quarter of 2013. The overall scope of the project is anticipated to include up to 243 schools across Germany, pending the successful installation at the first two schools and needed approval by the various school districts. The complete project would require between eighteen and twenty-four months to complete.
Prime Energy Solutions will initially focus its marketing efforts on finalizing the project's commitment to include all 243 schools and their respective districts. In addition, they will target streetlights, public facilities and diverse commercial applications that could benefit from converting to LED lighting.