Earlier this summer, Las Vegas-based RENEWABLE ENERGY & COM USD0.001 (POST REV SPLI (OTCMKTS:RBNW) announced multiple contracts to supply what it refers to as its ‘State-of-the-art LED’ lighting through its LED Lites USA division to customers in Nevada and California, with no great positive effect to the stock. Then, at the beginning of this month, a speculative PR sent shares of RBNW hurtling back up in what has been an interesting chain of events.
LED lighting, has of course gained popularity and prominence in recent years, primarily because its energy expenditure can be up to 80% less than traditional lighting types like halogen or incandescent. Many businesses choose to save costs over the long run by electing to refit of retrofit their outdated lighting systems with LEDs.
RENEWABLE ENERGY & COM USD0.001 (POST REV SPLI (OTCMKTS:RBNW) has been attempting to take advantage of that trend, thus far on a small scale. The company lit the exterior areas of a California condominium association, and according to the association’s director, it resulted in an 80% lower power bill in the first month’s use.
The company next announced it had secured a contract with a dining franchise to install LED lighting, and would bid for a contract to do the same for the entire campus of an electronics assembly plant in the San Francisco area, which it won. Both of those events represented tangible accomplishments, but did not cause the same amount of excitement as the press release published by the company this month.
RBNW indicated that it is in the process of improving the functionality and designing customized housings for a variety of LED lights to be submitted for possible use in the new Raiders football stadium to be constructed in downtown Las Vegas. Despite having no guarantee that its lights will actually go into the massive project, the Raider and NFL names seemed to have sparked the embers of interest in a lot of speculative investors.
“LED lighting is obviously the way for new construction to meet its lighting needs; but off-the-shelf products from manufacturers may well not be up to the highest standards,” said Company CEO Donald MacIntyre. “Our LED Lites USA division here in Las Vegas doesn’t just pass on product but re-engineers it to make certain our customers get the most advanced technology in the lighting we provide. Additionally, the housings for LED lighting can be pretty bland. For the new Raiders stadium we’re considering a number of design modifications that should thrill the fans — lights that look like footballs with the Raiders’ logo, for instance. We want our new home team’s stadium lighting to be of the highest quality, both in functionality and aesthetic design.”
Contracted to build the new $1.9 billion dollar stadium are Mortenson Construction of Minneapolis, MN, and McCarthy Construction of Henderson, NV, the companies having held a bid meeting in Henderson on June 15, 2017. The proposed timetable for the new stadium, to be constructed adjacent to the Vegas strip downtown, has ground-breaking to take place in January 2018 with the project to be completed in 30 months, bringing the opening to June of 2020. (Source: Marketwired)
If construction is really to begin at the end of this year, one would have to imagine that bids for materials to be used would have to be decided relatively soon. We’ll keep an eye out for updates on that front. Stay locked to Street Register for updates, and we’ll deliver important developments on RBNW as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in RBNW stock, short or long.