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FOR IMMEDIATE RELEASE March 28, 2002 CONTACT: Marianna Ohe 202-565-3206 ST. PETERSBURG SCHOOLCHILDREN TO ENJOY BRIGHTER CLASSROOMS WITH LIGHTS EXPORTED TO RUSSIA FROM U.S. WITH EX-IM BANK FINANCING First St. Petersburg Transaction Under Ex-Im Bank Sub-Sovereign Risk Program Energy Smart, Inc., a small Buffalo, NY, company, is providing 362,000 energy-efficient fluorescent lighting fixtures totaling $18 million to modernize lighting in approximately 450 public high schools in St. Petersburg, Russia, backed by a long-term guarantee of over $15 million from the Export-Import Bank of the United States (Ex-Im Bank). Suppliers on the export sale include Reflect-a-Light Inc., Palatka, FL; Cooper Lighting, Peachtree City, GA; Philips Lighting Co., Summerset, NJ, and Energy Innovations Corp., Cleveland, OH. It is the first transaction by the city of St. Petersburg under Ex-Im Bank's sub-sovereign risk program announced in August, 2000. Under this program Ex-Im Bank will accept the credit of qualifying states, provinces and cities in emerging markets worldwide for purchase of U.S. equipment and services to address vital infrastructure and public sector needs. The Erie County Industrial Development Agency, Ex-Im Bank's City-State Partner for New York State, also was instrumental in bringing together Energy Smart and Ex-Im Bank. Energy Smart, a provider of energy conservation services with a workforce of 15-20 employees, will replace the ceiling fluorescent fixtures and incandescent fixtures used in St. Petersburg public schools with state-of-the-art fluorescent fixtures with aluminum reflectors, electronic ballast and T-8 lamps. The T8 lamps and ballast specified in the contract use 38% less energy and offer 20% longer life than conventional lamps. |
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