Intelligent Highway Solutions, Inc. (OTCQB: IHSI), announced today the Company’s plan for expansion and development of business opportunities.
Devon Jones, CEO of Intelligent Highway Solutions, stated, “We have taken steps to control our debt structure, we can now turn our attention to building on the fundamentals of company growth.” Jones continued, “We have completed profitable contracts with Caltrans and Honeywell over the past four years, we are now in the financial position to expand on the foundation we prepared.”
Jones stated, “We are currently meeting with Honeywell and other nationally recognized contractors to provide our labor and management experience to address the growing number of new contacts in the Title 24 market in California. New work in state agencies and commercial developers have increased recently to get ahead of the new Title 24 standards that go into place in January, 2017. A portion of the new $5 million financing will be used to cover the expanded bonding and overhead required to keep pace with the new work load. With new State financing in place, Caltrans is rolling out new projects that IHSI has experience with and has been successful with since its inception four years ago.”
“The agricultural grow lighting market continues to expand. In a recent ArcView Research report the market is expected to reach $11 billion in 2019,” Jones continued. “We are moving forward with the joint venture talks previously announced. We are also working with growers that have outdated lighting systems and utilities that offer rebates to retrofit to the more efficient LED lighting systems. The cost of energy used in grow facilities in California and Colorado represent 3% of all electrical energy used. Utilities are encouraging growers to install the more efficient LED systems. The Suncloak systems reduces energy by up to 70% and increases yield because the grower can harvest from the entire plant, not just the upper portion. A win, win for everyone.”
IHSI is working with the major developers that are planning the grow facilities to support the new businesses that is taking place in several States. Developers are looking for the state-of-the-art grow lighting systems. The Suncloak LED lighting system is the most advanced of its kind; it meets and/or exceeds all the key points developers are looking for.
“The Company has a sound platform to build on, now that we have taken control of the financial hurdles that faced us. We have developed working relationships with major vendors and contractors and now have the financing in place to execute on our plan laid out when we started back in 2011. The company looks forward to providing updates in the coming weeks concerning these matters and other progress that is being made,” stated Devon Jones, CEO of IHSI.
About Intelligent Highway Solutions, Inc.
Intelligent Highway Solutions, Inc. was formed in April, 2011. IHSI develops high and low voltage electrical solutions for a variety of platforms. The company performs electrical installations, temperature control systems, communication and wireless integration and advanced lighting systems.
Forward Looking Statements: Any statements contained herein that are not historical facts are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made subject to certain risks and uncertainties, which could cause actual results to differ materially from those presented. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only to the date such information was released. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after release of this information.
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