Green Ballast Inc. – a Memphis-based marketer and distributor of electronic ballasts for fluorescent commercial lighting fixtures – is increasing its operations.
The development stage company is led by CB Richard Ellis Memphis CEO Kevin Adams. The company’s board of directors includes Mary Sharp and John Lamberson, also executives with CBRE.
Green Ballast reduces fluorescent lighting energy by measuring available daylight for individual lighting fixtures. Depending on a building’s exposure to natural light, it offers up to 70 percent savings on lighting costs.
Adams released the following letter to shareholders today:
The Green Ballast management team has have been working diligently on many important fronts, and I am pleased to take this opportunity to update you on the company’s progress.
Green Ballast became a public company on December 20, 2011, when the Securities and Exchange Commission declared our S-1 Registration Statement effective. Just last week we received our trading symbol from the Financial Industry Regulatory Authority, permitting trading of our common stock under the symbol “GBLL.”
On the sales front, the company has added three additional national sales personnel to our team to help grow our sales channels, each with more than twenty years’ sales experience in the lighting industry. We believe it is a testament to our business strategy, products and prospects that these lighting veterans left secure positions to join our team.
We have also expanded our engineering staff to include a Power Supply Design Engineer, a Software Design Engineer, a Circuit Board Design Engineer, a Computer Engineer and a Project Management Engineer. We have established a testing laboratory in Las Vegas, Nevada, in close proximity to some of our engineers.
We are scheduled to participate in several key strategic lighting and technology conventions, workshops and speaking engagements this year to continue raising customer awareness of the effectiveness and efficiency of our integrated lighting controls. These presentations allow us to demonstrate to potential customers, distributors and other industry personnel our products’ simplicity of installation and economically beneficial results.
We have enhanced our business model to offer our sales channel partners both innovative and return-oriented solutions that increase their value to their customers. Accordingly, we are watching our potential sales pipeline develop and expect the market will reward us with an exciting 2012.
It is truly an enjoyable and rewarding experience to lead a company that provides an efficient solution to one of today’s most pressing problems – energy conservation. I personally appreciate your investment, your trust and your confidence in Green Ballast.
With kindest regards,
J Kevin Adams
Chief Executive Officer