Chicago IL, Oct. 06, 2021 (GLOBE NEWSWIRE) -- FOMO CORP. (OTC: FOMC) announces its wholly owned subsidiary the Energy Intelligence Center (EIC) is completing an energy efficiency project for the NEXII at the Commonwealth of Pennsylvania’s (PA) first green building manufacturing plant, NEXUS-1.
COST AND GREENHOUSE GAS REDUCTIONS
EIC has worked with its strategic subcontractors to design a light-emitting diode (LED) lighting system for the 180,000 square feet NEXUS-1 manufacturing facility located in Hazleton, PA. The solution is optimized for illumination, occupant productivity, and energy efficiency.
Based on an energy analysis, estimated energy savings of the new LED fixtures, and PA average energy rate of $0.0692 per kilowatt-hour (kWh), NEXII plans a cost savings of $51,574 per year with an annual estimated Carbon Dioxide (CO2) emissions savings of 939,059 pounds. If NEXUS-1 operates a 3-shifts manufacturing process over the ten (10) years life of the LEDs, the estimated 10-years cost savings is $902,540; the estimated equivalent CO2 emissions avoided over 10-years is 16,433,536 lbs.
At 2,204 lbs per metric ton, and an annual average of 4.6 metric tons of CO2 per car according to the EPA, at the triple shift level of operations, the facility will offset the equivalent of 162 cars per year. This is a significant impact relative to the operating staff of the facility. For further comparison, if a 60-watt incandescent light bulb runs for 3 hours per day at a home each of 365 days per year, it uses 65.7 kWh. The energy savings at this facility, is equivalent to turning off 11,343 light bulbs. Applying similar math worldwide, thus efforts will help achieve 2050 green energy goals of the planet.
“This project has been multiple months in the making, and EIC’s contractor is completing the installation of the energy saving LED fixtures for the offices, showroom, and production bays.” said Mr. John Wolfington, Managing Partner, NEXUS-1. “We expect all of the LED fixtured to be installed around the week of October 18th.”
NEXII COMMERCE TEXAS PLANT COMING SOON
The EIC is already working with NEXII on an LED lighting strategy for the new 300,000 square feet Commerce, Texas (TX) facility. The NEXUS-1 team will bring approximately 200 new, skilled green manufacturing jobs to Commerce manufacturing facility. Once fully operational, the plant will be able to produce more than 8 million square feet of building panels every year, serving projects in Southern U.S. markets.
"We are pleased to see that our EIC team is engaged with a leader in sustainable and affordable building construction.” Said Vik Grover, President & CEO, FOMO CORP. “As NEXUS-1 expands production in the U.S. we have the technology for lighting as well as HVAC and indoor air quality (IAQ) to help them and their clients save money and the planet along the way.”
Last week, on September 30, 2021, FOMO amended its Agreement to acquire interests in two companies (LEDF and Lux Solutions) to be called “Smartguard Energy LLC” as a wholly owned acquisition subsidiary. The transaction will help FOMO scale its clean tech energy group to become a world leader in the fight to reopen the world.
ABOUT NEXII
Through its innovative building solutions, NEXII’s mission is to create sustainable, durable, cost-efficient and disaster-resilient buildings. NEXII engages in ongoing third-party testing to ensure the quality and safety of its products across a range of test categories, including strength, durability, and structural integrity. NEXII is well-suited for most building options, including industrial/commercial/institutional, mixed-use, multi-family residential, single-family homes, as well as for the growing retrofit market.
As a company concerned with environmental and social impacts, NEXII is committed to building a vibrant future for people and the planet by manufacturing and retrofitting truly sustainable buildings.
NEXII was highlighted in a Bloomberg Law – Environment & Energy feature “Concrete Still a Barrier to Climate-Friendly Infrastructure Plan” that addresses climate impact and carbon reductions using NEXII’s proprietary products. (https://www.nexii.com/sustainability/)
ABOUT THE ENERGY INTELLIGENCE CENTER, LLC.:
The Energy Intelligence Center, LLC. (EIC) is an energy services company uniquely positioned to provide Energy Efficiency, Optimization, Operations, and Economic Incentives for the Optimization of Building Equipment, and Management and Automation Systems. Our mission is to create client focused energy efficient building portfolios. The Independence LED Lighting (iLED) facet of EIC is a professional lighting solutions company with Made in America LED lighting products, manufacturing experience, and insight.
ABOUT FOMO CORP.
FOMO CORP. (https://www.fomoworldwide.com/) is a publicly traded company focused on business incubation and acceleration. The Company invests in and advises emerging companies aligned with a growth mandate. FOMO is developing direct investment and affiliations - majority- and minority-owned as well as in joint venture formats - that afford targets access to the public markets for expansion capital as well as spin-out options to become their own stand-alone public companies.
FORWARD LOOKING STATEMENTS:
Statements in this press release about our future expectations, including without limitation, the likelihood that FOMO CORP. will be able to meet minimum sales expectations, be successful and profitable in the market, bring significant value to FOMO CORP.’s stockholders, and leverage capital markets to execute its growth strategy, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. FOMO’s business strategy described in this press release is subject to innumerable risks, most significantly, whether the Company is successful in securing adequate financing. No information in this press release should be construed in any form shape or manner as an indication of the Company’s future revenues, financial condition, or stock price.
INVESTOR AND SALES CONTACT:
FOMO CORP.
Investor Relations
(630) 286-9560
IR@fomoworldwide.com
Energy Intelligence Center, LLC.
Geoffrey Nichols, VP of Sales
Phone: (323) 314-7750
Email: geoffrey@eicteam.com
