ForceField Energy Inc (NASDAQ:FNRG) claimed attention after announcing partnership agreement in between its American Lighting Subsidiary (ALD) and Waxie Sanitary Supply (WAXIE), which is one of the largest distributor of sanitary maintenance supplies. The deal will enable ALD to reach out to the vast customer base of WAXIE across nine states in the Western US.
Attractive deal arrangement
The agreement will give the opportunity to both the companies to bank on the abilities of one another. While WAXIE will benefit from ALD’s rich knowledge and experience of developing and implementing advanced LED lighting solutions to a diverse range of clients, ALD will benefit from the strong presence of the former. WAXIE maintains a strong foothold in some of the major market segments such as Commercial Real Estate, Building Service Contractors, Government, Healthcare, Education, Industrial, Hospitality, and Foodservice.
On the other hand, ForceField Energy Inc (NASDAQ:FNRG)’s ALD too has incredible offerings for WAXIE, which includes experience in-house teams, energy efficiency and tailor made solutions, real-time energy monitoring to ensure optimum usage of energy. ALD also maintains strong relationships with a number of high-profile energy services companies and other bigger utilities.
WAXIE’s Director of Channel Marketing and Sustainability, Keith Schneringer said that agreement with ALD is a natural fit for expanding the company’s existing product lines, as well as services. He said that LED lighting is an important part of their customer’s broader sustainability targets, and hence find this partnership extremely significant.
Meanwhile, ALD’s CEO Neil Miller said that their offerings are appropriate for WAXIE’s clients, who wish to expand their sustainability goals. He said that ALD’s solutions will help WAXIE’s client save money and improve bottom line simultaneously. As the stock of ForceField Energy Inc (NASDAQ:FNRG) inched up by 1.59% to $7.65, its rival Universal Display Corporation (NASDAQ:OLED) slipped 1.04% to $46.43. Another competitor, Cree, Inc. (NASDAQ:CREE) showed a gain of 1.36% and closed at $35.05.