Sign Exclusive Agreement for Guaranteed Energy Savings
HOUSTON, TX — (MARKET WIRE) — January 3, 2011 — Lapolla Industries, Inc. (“Lapolla”) (OTC BB:LPAD.OB – News), a Houston based manufacturer and supplier of spray foam insulation, cool roof coatings and equipment designed to reduce energy consumption in the residential and commercial markets, for both new construction and retrofit applications, today announced entering into a strategic alliance with EnergyWise Structures. (“EnergyWise”).
EnergyWise entered into an exclusive spray foam insulation agreement with Lapolla to supply existing EnergyWise customers with Lapolla Spray Foam as well as supplying all Lapolla Spray Foam customers, AirTight Insulation customers and all related market channels with EnergyWise engineering services access. As a NASA spinoff, EnergyWise has become synonymous with engineering quality, integrity and reliability. EnergyWise is one of the nation’s leading thermal engineering firms and the only engineering solutions company confident enough to give an energy usage guarantee for energy savings up to 70%. EnergyWise uses their proprietary software to build a detailed energy analysis based on each customer’s building plans, from which they accurately project heating and cooling costs. From this analysis EnergyWise is able to customize a new building plan that includes Lapolla Spray Foam Insulation, caulking, and optimal heating and cooling system sizing, to maximize energy savings.
Lapolla’s FL 2000 Spray Foam Insulation contains a meaningful level of Post Consumer Recycled Content (recycled plastic bottles), bringing added value to the consumer and environment. Douglas Kramer, President and CEO of Lapolla commented, “Lapolla and EnergyWise have now taken the next step needed to support consumers in their effort to understand the return on investment through responsible and sustainable building technologies. With our combined resources, we have eliminated the guesswork on the initial costs and ultimate consumer value in building Green.”
CEO and Principal Owner of EnergyWise, Richard Rue, stated, “The newly created relationship between Lapolla and EnergyWise will help bring a significant value proposition to tens of thousands of homeowners in the near future. This alliance comes at a great time as housing starts are expected to climb over the next few years.”
About Lapolla Industries, Inc.
Lapolla Industries, Inc. is a manufacturer of spray foam insulation and cool roof coating products targeting commercial, industrial and residential applications in the roofing and insulation construction industries. Additional information about Lapolla is available at www.Lapolla.com.
About EnergyWise Structures
EnergyWise Structures is engaged in mechanical engineering for the “Ultra-Energy-Efficient, Healthy” construction trade utilizing its EnergyWise System. The EnergyWise System incorporates Lapolla spray foam insulation, air quality, comfort requirements, and equipment efficiency, which translates into cost-effective options for saving energy and saving money. Beyond saving money, every EnergyWise energy analysis report considers humidity control, air quality and the general health and comfort of the environment within the structure. Additional information about EnergyWise is available at www.energywisestructures.com.
Forward Looking Statements
Statements made in this press release that are not historical facts constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are necessarily estimates reflecting the best judgment of senior management and express the Company’s opinions about trends and factors which may impact future operating results. Such statements rely on a number of assumptions concerning future events, many of which are outside of the Company’s control, and involve risks and uncertainties that could cause actual results to differ materially from opinions and expectations. Any such forward-looking statements should be considered in context with the various disclosures made by the Company about its businesses. All information in this release is as of the date hereof. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.
For further information regarding risks, uncertainties, and other factors associated with Lapolla’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Lapolla’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of Lapolla’s press releases and additional information about Lapolla is available on the World Wide Web at www.lapollaindustries.com.
Douglas J. Kramer, CEO
Michael T. Adams, CGO
Charles A. Zajaczkowski, CFO