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Top energy news stories... |
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Sunovia Energy Technologies Partners With Fifth Third Bank |
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SARASOTA, Fla., March 10 /PRNewswire-FirstCall/ -- Sunovia Energy Technologies (OTC Bulletin Board: SUNV) and Fifth Third Bank announced today that they have finalized a partnership whereby eligible customers can now finance the costs of purchasing and installing Sunovia's LED products.
By installing Sunovia's LED Light Fixtures, which are sold under the brand name EvoLucia®, customers generally save more than 50% in energy and more than $500 in bulb replacement and maintenance costs during the life of the new EvoLucia LED fixture. The savings that the customer enjoys from converting to the new EvoLucia LED fixture more than covers the entire costs of the financing. All Fifth Third Bank loans are subject to credit review and approval.
Sunovia believes that the new financing program resolves the final sticking point (up-front costs) for customers who are contemplating switching to its EvoLucia line of LED lighting. The EvoLucia LED lights already increase visibility, save energy, reduce carbon emissions, last 5x longer, and provide a more evenly distributed cool white light than existing street lights; and now, there is no additional costs to customers who step into the future of lighting.
The specialized program provides financing packages of up to five years with no money down at prevailing market interest rates. A client will have the option to pay monthly, quarterly or annually to amortize their investment in a period of five years. At the end of the lease term, the client will own the lights outright with no additional lease buyout required. Typically, the reduced maintenance costs and energy savings more than cover the monthly lease payment, and all savings accumulated after the financing period go to the customer's bottom line (for governmental installations, these are savings to taxpayers).
On average, the maintenance and energy savings enjoyed by customers who |
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