HAUPPAUGE, N.Y., April 16, 2015 /PRNewswire/ -- VOXX International
Corporation (NASDAQ: VOXX) today announced that it has turned on
the power at its Long Island
facility. The program is the result of a strategic partnership
with Harvest Power LLC to install a large scale solar energy system
for the Company's property at 180 Marcus Blvd, Hauppauge, NY. This solar energy system is
part of the local utility (PSEGLI) Clean Solar Initiative
feed-in tariff (FIT) Program and offers VOXX the opportunity to
produce and sell back electricity energy at a fixed rate per kWh
(.22) over the 20-year term of a power purchase agreement
(PPA).
The total solar system consists of a 171,000 kW (DC) rooftop
mounted solar energy system on the building as well as two solar
carport systems totaling 296,000 kW (DC) located in the rear
parking lot. The new solar carports have been designed with several
EV charging stations and will benefit VOXX employees who currently
have electric vehicles and those who plan to own such vehicles in
the future.
Pat Lavelle, President and CEO of
VOXX International stated, "This is a very exciting development for
our Company and one I believe is testament to our corporate vision
and commitment to long-term sustainability. In addition to
the 'green' benefits from this alliance, we also anticipate energy
cost savings of well over $1 million
over the next 20 years." Lavelle continued, "For over four decades,
we've operated on Long Island and
remain committed to investing in our facilities and continuing to
make a meaningful difference within the Long Island community and for our employees."
The solar project is part of the Company's continuing ISO14001
environmental management certification processes.
The Company is also planning through the partnership with
Harvest Power to offer a jointly sponsored "employee discount/VIP
program" that will be available shortly to give VOXX employees the
ability to take advantage of the solar energy alternative for their
homes.
Mr. Lavelle concluded, "VOXX has always prided itself on
deploying innovative solutions whether it be the latest technology
for our customers or the way we manage our assets and properties
and our approach to alternative, renewable energy is no different.
Our new partnership with Harvest Power provided a convenient and
affordable process for going solar that will help us lower costs
and deliver performance to our shareholders."
About VOXX International Corporation:
VOXX
International Corporation (NASDAQ: VOXX) has grown into a worldwide
leader in many automotive and consumer electronics and accessories
categories, as well as premium high-end audio. Today, VOXX
International Corporation has an extensive distribution network
that includes power retailers, mass merchandisers, 12-volt
specialists and most of the world's leading automotive
manufacturers. The Company has an international footprint in
Europe, Asia, Mexico
and South America, and a growing
portfolio, which now comprises over 30 trusted brands. Among the
key domestic brands are Klipsch®, RCA®, Invision®, Jensen®,
Audiovox®, Terk®, Acoustic Research®, Advent®, Code Alarm®,
CarLink®, 808®, AR for Her®, and Prestige®. International brands
include Hirschmann Car Communication®, Klipsch®, Jamo®, Energy®,
Mirage®, Mac Audio®, Magnat®, Heco®, Schwaiger®, Oehlbach® and
Incaar™. For additional information, please visit our Web
site at www.voxxintl.com.
About Harvest Power LLC:
Harvest Power LLC, is a
family owned and operated full service Solar Energy Company located
in Bay Shore, New York,
established in 2009. Harvest Power LLC has installed hundreds of
residential and dozens of commercial solar energy systems on
Long Island and in the Metro New
York region. Recognized as one of the local Solar Energy Industry
leaders, Harvest Power LLC has NABCEP certification, is a leading
member of NYSEIA and LISEIA, the local solar energy industries
trade association and an active Trade Ally Partner with PSEG LI.
For more information about Harvest Power LLC, visit their website
at www.harvestpower.net
Safe Harbor Statement
Except for historical
information contained herein, statements made in this release that
would constitute forward-looking statements may involve certain
risks and uncertainties. All forward-looking statements made in
this release are based on currently available information and the
Company assumes no responsibility to update any such
forward-looking statements. The following factors, among others,
may cause actual results to differ materially from the results
suggested in the forward-looking statements. The factors include,
but are not limited to risks that may result from changes in the
Company's business operations; our ability to keep pace with
technological advances; significant competition in the automotive,
premium audio and consumer accessories businesses; our
relationships with key suppliers and customers; quality and
consumer acceptance of newly introduced products; market
volatility; non-availability of product; excess inventory; price
and product competition; new product introductions; foreign
currency fluctuations and concerns regarding the European debt
crisis; restrictive debt covenants; the possibility that the review
of our prior filings by the SEC may result in changes to our
financial statements; and the possibility that stockholders or
regulatory authorities may initiate proceedings against VOXX
International Corporation and/or our officers and directors as a
result of any restatements. Risk factors associated with our
business, including some of the facts set forth herein, are
detailed in the Company's Form 10-K for the fiscal year ended
February 28, 2014.
Investor and Media Contact:
Glenn Wiener
GW Communications
Tel: 212-786-6011
Email: gwiener@GWCco.com
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SOURCE VOXX International Corporation