CybeRelease: (OTC: AXTG) Starts Shipping Products to Former Subsidiary of Home Depot
(CybeRelease, September 12, 2007) - Lake Harmony, Pa. - Axis Technologies Group, Inc. (OTC PK: AXTG) announced that after receiving initial purchase orders in April 2007, the Company has begun shipping the Axis Dimming/Daylight Harvesting (DDH) Ballast to HD Supply(TM). HD Supply is a former subsidiary of The Home Depot, Inc. and was sold by the company on August 30, 2007. For ten years HD Supply was considered the wholesale arm of Home Depot catering primarily to the commercial market selling to builders, contractors, government entities, industrial businesses and maintenance professionals.
“We are delighted to add HD Supply to our growing list of high profile customers,” said Jim Erickson, President of Axis. “We have worked hard to build market awareness of our product and now the market is responding. I believe we are in the right place at the right time with our energy saving ballast as Green initiatives continue to dominate the headlines.”
Ballasts are an electronic component that regulates voltage in fluorescent lighting. Axis Technologies Group, Inc. has developed a proprietary new ballast that focuses on expanding daylight harvesting into mainstream fluorescent lighting applications. The patented Axis Dimming/Daylight Harvesting Ballast is a new technology that transforms the ballast, a once standard lighting industry staple, into a dynamic energy saving system that can reduce lighting energy costs by up to 70% -- savings that are acknowledged by an increasing list of utilities across the United States and Canada offering rebates to their customers. The Axis DDH Ballast utilizes an individual photo sensor to automatically adjust the amount of electrical current flowing to the light fixture, and then dims or increases lighting in response to the amount of available sunlight that may be harvested from available windows and sunlight. The Axis DDH Ballast avoids “over-lit” conditions that increase energy costs by keeping lighting “tuned” to the desired level in a designated area.
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About HD Supply
HD Supply, formerly a wholly owned subsidiary of The Home Depot, Inc., was formed by The Home Depot, Inc. in 1997 with the acquisition of Maintenance Warehouse, a direct mail marketer of maintenance, repair and operations products. On August 30, 2007 HD Supply announced the completion of sale of the company to a group of three private equity firms: Bain Capital, The Carlyle Group, and Clayton, Dubilier & Rice, Inc. HD Supply, a leading diversified wholesale distributor of construction and maintenance-related products in North America, with annual sales of more than $13 billion, was acquired from The Home Depot for $8.5 billion. The acquisition includes a portfolio of 11 businesses and HD Supply Canada. The company will retain the HD Supply name. HD Supply has nearly 1,000 locations in the US and Canada and more than 26,000 employees providing business solutions to builders, contractors, government entities, industrial businesses and maintenance professionals. The scope of HD Supply businesses includes infrastructure solutions for public works systems, interior and exterior structural building components for residential, commercial, industrial, and institutional projects, maintenance products and services for both facilities and industrial use and home repair and renovation supplies. By using the power of a $60 billion supply chain, HD Supply provides unmatched access to products and services its customers need to be successful on the job site.
To read the complete release, go to http://biz.yahoo.com/iw/070911/0300867.html
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