Fourth paragraph, last sentence of release dated Oct. 28, 2014, should read: For the Brunswick Landing project, Pemco partnered with Enterprise Electric, MCO Engineering and Swiftcurrent Engineering to design, implement and maintain the installation (instead of xxx RJM Engineering and Swiftcurrent Engineering to design, implement and maintain the installation)

The corrected release reads:

PEMCO HOLDINGS COMPLETES LED STREET LIGHT PROJECT AT FORMER NAVAL AIR STATION AND PIONEERS USE OF DIMMING CONTROLS ON PUBLIC STREET LIGHTING IN THE U.S.

The energy efficiency project and street light upgrades are slated to generate an estimated 80% in energy cost savings.

Pemco Holdings, LLC (Pemco), a leading investor and developer of energy efficiency projects, in partnership with Midcoast Regional Redevelopment Authority (MRRA), today announced the completion of the Brunswick Landing LED Street Lighting Improvement Project at the former Naval Air Station in Brunswick, ME. The project, which pioneered the use of dimming controls on public street lighting in the United States, includes the upgrade of 650 street and area lights with new LED fixtures and radio frequency-enabled control and monitoring systems. The improvements will reduce gross energy and maintenance costs by an estimated 80% and will be paid for from savings generated by the program over a period of ten years. Pemco developed, financed and managed the installation.

“We are very pleased that Brunswick Landing could be the first entity to demonstrate the application of dimming control technology on street lights on public streets in the U.S. and even more pleased with the savings that this project will generate for our organization,” said Tom Brubaker, Public Works and Utilities Manager at the Midcoast Regional Redevelopment Authority. “Our mission is to redevelop this closed military base to its highest and best civilian reuse use while maximizing profitability and efficiency. The Brunswick Landing LED Street Light Project developed, financed and managed by Pemco allows us to achieve this goal without upfront capital expenditures and to make payments for the project directly from savings achieved by the improvements.”

“Pemco is proud to have partnered with the Midcoast Regional Redevelopment Authority on the Brunswick Landing project,” said Josh Heald, Pemco CEO and Founder. “Pemco’s goal is to facilitate, finance and manage energy efficiency projects that reduce energy and maintenance costs. The team at MRRA and Brunswick Landing saw the opportunity to realize savings while upgrading their technology and improving efficiency with our solution. We’re excited to be the first energy efficiency program implemented at Brunswick Landing and the first in the country to install dimming controls on public street lighting.”

Radio frequency controls are used in targeted low traffic areas to dim lighting at predetermined schedules. The new program and LED street light installation replaced high pressure sodium and metal halide fixtures and averages 85% savings over historical costs for energy and maintenance. Approximately 12%-15% of the cost reduction is due to the dimming controls. For the Brunswick Landing project, Pemco partnered with Enterprise Electric, MCO Engineering and Swiftcurrent Engineering to design, implement and maintain the installation.