Amko Solara signs Distribution Agreement with ITOCHU Corporation for distribution in Asia-Pacific area

2013-12-23

TAIPEI, Taiwan, December 17, 2013 – Amko Solara (“AMKO”) today announced the distribution agreement with ITOCHU Corporation (“ITOCHU”) as non-exclusive distributor for the Asia-Pacific area, and exclusive distributor for the India market. 

AMKO is a leading manufacturer of energy-efficient, smart induction lighting solutions for government municipality, industrial and commercial clients.  In recent years, the company expanded its business model along the vertical to making direct investment via its investment arm, CMNG Capital, in upgrading public street lights for municipalities. 

AMKO’s smart induction lighting solution, integrated with smart chip technology from Echelon Corp. (NASDAQ: ELON), allows for real-time monitor and control of luminaires.  This allows for full transparency and flexibility in management & operations, which translates to significant savings in addition to energy.

In addition to supporting commercial sales activities to private sector clients, AMKO and ITOCHU will combine their industry expertise and access to international channels and pursue street light infrastructure upgrade projects.

"ITOCHU is a global firm that's committed to building a sustainable future and Amko Solara is focused on building up smart street lights in LATAM, ASEAN, MENA and Japan.  Now we have a very strong partnership for upcoming projects in India and we wish to play a major role in upgrading its street light infrastructure in the next 5 years.”said Michael Ng, CEO of Amko Solara.

 

About ITOCHU
The history of ITOCHU Corporation dates back to 1858 when the Company's founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU has evolved and grown over 150 years.
With approximately 130 bases in 66 countries, ITOCHU, one of the leading sogoshosha, is engaging in domestic trading, import/export, and overseas trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, information and communications technology, realty, general products, insurance, logistics services, construction, and finance, as well as business investment in Japan and overseas.
 

About Amko Solara
Amko Solara Lighting Co., Ltd. provides energy-efficient lighting and integrated energy management control systems to commercial, industrial, and government municipality clients.  Led by innovation and a focus on building core competitive advantage through partnerships with Echelon Corp in next generation technology, Amko’s smart lighting solution transforms luminaires into intelligent, energy-efficient, managed networks that deliver dependable lighting, enhanced by additional savings in maintenance and operating cost, thus creating transparency and flexibility in operations management.

 

About CMNG Capital
CMNG Capital is a financial vehicle that delivers energy efficiency street light solutions to Municipalities in Latin America and Southeast Asia. Specifically, the Fund focuses on investment opportunities in projects structured as Energy Performance Contracts (“EPCs”), backed by mature reliable induction street lighting technology supplied by the fund’s sponsor Amko Solara.  Facilitated by EPCs, the electricity savings generated by the Project are used to repaythe Fund’s initial invested capital, and surplus savings are allocated between the Fund and the government entity client that is the counterparty to the EPCs for aperiod of 10 years.

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