November 29, 2018 - 8:47 AM EST
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Renewable Energy and Power Delivers First Fully Reimbursed Lighting Contract Under PG&E Rebate Program

$35,000 in LED lights delivered at no cost to California auto retailer

Las Vegas, NV, Nov. 29, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Renewable Energy and Power, Inc., (REAP) (OTC: RBNW), an LED lighting solutions company, today announced its first fully reimbursed lighting contract under the Pacific Gas & Electric (PG&E) Trade Professional Alliance which provides energy saving incentives for approved contractors and service providers.

The Company expects the qualification as a trade partner under the program to enhance the competitiveness of its power and cost-saving solutions and increase business from retail and industrial customers in California.

As a member of PG&E’s Trade Alliance Program, REAP now is able to provide LED lighting upgrades for both commercial and residential customers throughout Northern California by partnering with PG&E through their rebate area representatives:

Mendocino/Lake County Energy Watch LGP: Mendocino/Lake County (MLEW)

Sustainable Napa County LGP: Napa County (NCEW)

Sonoma County Energy Watch LGP: Sonoma County (SCEW)

Solano County Energy Watch LGP: Solano County (SEW)

REAP plans to participate in a variety of other types of incentive rebate programs including On-Bill Financing which provides customers LED lighting upgrades with costs applied to their energy bill over time, after which the energy savings are reflected in lower billing.

The Company also recently provided the Las Vegas outlet of a national commercial customer new exterior and interior LED lighting at a reduced cost through NVEnergy’s incentive rebate program.

“We believe our growing expertise in the many rebate programs offered throughout the country is attractive to the large base of customers seeking to upgrade to LED for improved lighting and substantially reduced energy costs,” commented CEO Donald MacIntyre. “These programs benefit our business, the customer's profitability and make an impact environmentally.”

About Renewable Energy and Power

REAP seeks to make the Green Energy market cost competitive with fossil fuels through innovation in solar, wind-power and LED lighting. Federal and state legislation in the United States provide for tax incentives that drive businesses and consumers to replace older technologies with new solar and LED alternatives of the types offered by REAP.

Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

For information:

[email protected]

Phone: 702-685-9524

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Source: GlobeNewswire (November 29, 2018 - 8:47 AM EST)

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