TEQlease Provides LED Retrofit Project Financing for Fresno Economic Opportunities Commission
FOR IMMEDIATE RELEASE
Calabasas, California, April 22, 2022 — In celebration of Earth Day, TEQlease Equipment Finance, LED Green Light International, and Fresno Economic Opportunities Commission (Fresno EOC) are pleased to announce today the completion of an LED lighting retrofit project with equipment and installation services supplied by LED Green Light International and financing provided by TEQlease Equipment Finance.
Fresno EOC will benefit from the LED retrofit project by drastically lowering energy consumption compared to traditional fluorescent lighting – resulting in as much as an 70% reduction in energy costs over a year and saving 324 metric tons of greenhouse gases. The project was a comprehensive equipment and services retrofit installed across 6 buildings managed by Fresno EOC. The LED lighting retrofit project expects to provide Fresno EOC annual energy savings of more than 457,454 kilowatt hours (kWh).
“After careful consideration and analysis of all of our options, we decided to commence this LED lighting retrofit project fully aware of the projected cost savings and energy efficiencies involved. These allow programs to address other areas of need in the communities we serve,” said Jim Rodriguez, Fresno EOC’s Chief Financial Officer. “In addition to projected savings from working with LEDGLI, the financing provided by TEQlease allowed us to match cash flows to the savings, and in that manner, we did not have to burden current budgets with the entire project cost and savings to be realized over subsequent periods. We were very impressed with the execution of all the people involved, including our own Eddie Pacheco, Fresno EOC Director of Facilities, who was instrumental in helping to complete the entire project.”
“We are excited to provide substantial energy savings to Fresno EOC through our relationship with TEQlease,” said Bill Withers, CEO of LED Green Light International. “Not only do these retrofit projects reduce Fresno EOC’s overall carbon footprint but they also will decrease their annual energy costs and improve the lighting within these buildings for the employees and general public. In total, this project spanned 6 buildings to provide the latest in energy-saving technology to the end customer.” James Duggan, LEDGLI Director of Sales Support, added: “Lighting fixtures were acquired using the new lighting specification from the Million LED Challenge California State Lighting Contract.”
The Million LED Challenge calls for increased lumens per watt and higher color rendering index (CRI) color quality to increase energy efficiency savings and greenhouse gas reduction in California. The project included integrated Bluetooth wireless controls including scheduling and scene control. Finally, the full spectrum lighting provided has many health and wellness benefits for Fresno EOC employees and general public visiting the buildings.”
“We are proud to offer customers financing for LEDGLI’s high-quality, energy-efficient products and to expand our relationship with LEDGLI and Fresno EOC, which has blossomed in the last year,” said Michael Lockwood, Founder and President of TEQlease. “We look forward to working together on these and future projects because we know that LEDGLI is committed to providing the best energy saving technology, quality and performance – along with on-time delivery and great customer service.”
About LED Green Light International
LED Green Light International (“LEDGLI”) – a US Company that designs and manufactures a full line of the most advanced LED lighting products available in the lighting industry, as well as designing custom LED lighting products that meet the requirements specified by LEDGLI’s Customers. LEDGLI’s Lighting and Controls products also provide the most advanced ‘Bluetooth Mesh’ and ‘IOT’ enabled lighting controls available today in the lighting industry.
About Fresno Economic Opportunities Commission (Fresno EOC)
Established in 1965, Fresno EOC is a non-profit Community Action Agency that provides opportunities, strengthens self-sufficiency, and offers support for all people. We listen to the needs of the communities we serve to create effective programs and services. Fresno EOC is at the forefront, continuing the war on poverty with over 35 programs dedicated to getting people the help they need to achieve their goals.
About TEQlease Capital
Since 2000, TEQlease Capital has specialized in providing best-in-class equipment lease financing solutions for businesses, educational institutions, and federal, state and local governments, as well as offering manufacturer and vendor equipment finance programs across all industries. TEQlease Capital focuses on providing unparalleled service and on lowering acquisition finance costs, working with customers and equipment vendors through the entire equipment acquisition financing process. For more information, see www.teqlease.com or call (818) 222-1006.
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