Znergy Secures Purchase Order Funding Agreement for Up to $150 Million Annually
Enables Fulfillment of Contract with One of the Top 5 Largest Worldwide Retail Clothing Chains
SYRACUSE, IN / ACCESSWIRE / June 18, 2020 / Znergy, Inc. (OTC PINK:ZNRG) (the “Company”) a leading provider of new LED lighting and turnkey LED lighting conversions for businesses, is pleased to announce it has entered into a Purchase Order (PO) Funding Agreement with FSW Funding. The agreement provides annual funding of up to $150 million, which will allow for fulfilment of Znergy’s greater rate of orders, including its largest retrofit contract to-date with one of the top 5 largest worldwide retail clothing chains.
Znergy Chief Executive Officer, Dave Baker, commented, “Our fast-growing company is receiving LED retrofit orders at a greater rate than ever before in the history of the company. Short-term purchase order (PO) financing supports us in meeting supplier requirements and helps bridge the gap between when purchase orders are received, project completion is accomplished, and client payment is received. We’re also glad to hear with the re-opening of many states how receptive businesses are now to this commonsense cost reduction program. We improve their cash flow while customers take advantage of historically low-interest rates. Our zero down program makes it affordable for almost any business to convert to LED lighting and start saving immediately.”
About Znergy, Inc.
Znergy, Inc. (OTC PINK:ZNRG) is a leading provider of energy efficient lighting products, lighting controls and energy management solutions. Management is executing a growth strategy through developing large regional and national accounts, and rolling out sales and installation teams across the United States. Znergy solutions enable customers to reduce energy consumption, lower maintenance costs, increase safety and realize environmental benefits. Znergy is headquartered in Syracuse, Indiana. For more information, see our web sites at www.znergyworld.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Investor Relations Contact:
Corporate
Rick Mikles
(800) 931-5662
rick.mikles@znergyworld.com
ClearThink
nyc@clearthink.capital
SOURCE: Znergy, Inc.
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https://www.accesswire.com/594311/Znergy-Secures-Purchase-Order-Funding-Agreement-for-Up-to-150-Million-Annually
