Lapolla
Industires, Inc. (“Lapolla”) (OTCQB:LPAD), a Houston-based global
supplier and manufacturer of spray polyurethane foam insulation,
reflective roof coatings, and equipment designed to reduce energy
consumption in the residential, industrial and commercial markets for
both new construction and retrofit applications, today announced the
launch of its AirTight® division’s Energy Savings Program for
multi-family residential properties.
Lapolla’s AirTight division primarily focuses on marketing, promoting,
and selling energy saving products and energy reduction services.
AirTight has created a proprietary, end-to-end energy savings program
that is specifically designed to address multi-family residential
properties throughout the United States. This retrofit energy
conservation program, conceived and put into place by the Company’s
Chairman, Richard J. Kurtz, can save landlords approximately 50 percent
in annual energy costs while dramatically reducing the properties carbon
footprint, increasing the tenants comfort, as well as increasing the
overall value of the property.
To date, there are approximately 22 million apartments throughout the
United States of which approximately 8 million apartments have the
property owner paying the entire heating expense for a calendar 12 month
period. The program’s main focus will be these 8 million apartments.
The AirTight Multi-Family program consists of two fundamental
components. First, each property’s building envelope – the separation
between the interior and the exterior environments of a building – is
encapsulated and insulated with Lapolla’s cutting-edge technology
polyurethane spray foam. Second, the AirTight team overseas the
installation of a turn-key technology package on site at each property.
This package consists of wireless thermostats and apartment controls in
each unit, high efficiency hot water heaters, modern high-tech boilers,
and high efficiency lighting throughout the building among other energy
saving technologies.
“Individually, each element of this program is proven to contribute to
energy savings and reducing a building’s environmental footprint,”
stated Richard J. Kurtz, Chairman of Lapolla Industries. “But
consolidating each component into an end-to-end retro-fit program brings
incredible value to the building owners and environment, and we believe
this solution will address an enormous untapped demand in the market.”
“As the CEO of the Kamson Corporation, I manage and maintain more than
85 multi-family residential buildings in the North Eastern United
States. I can say confidently, along with insurance and real estate
taxes, energy utilities are one of the three largest expenses landlords
and property managers are repeatedly subjected to today. As such, my
team and I have tested this program on my properties, and have
experienced consistent reductions in energy costs of approximately 50
percent on an annual basis. We are confident that this program will be
successful and anticipate interest from major U.S. property managers and
real estate developers going forward,” concluded Mr. Kurtz.
Lapolla’s foam products include spray foam insulation for residential
and commercial perimeter walls, crawl spaces and attic space
applications. The Company also supplies spray foam and elastomeric
coatings for low slope residential and commercial roofing. Lapolla
supplies polyurethane as an adhesive for board stock insulation to
roofing substrates for commercial and industrial applications as well as
sundry items.
Home builders and renovators around the world recognize Lapolla’s brand
as having one of the most varied and comprehensive product suites of
energy-saving spray foam solutions to offer customers, both commercial
and residential.
About Lapolla Industries, Inc.
Lapolla Industries, Inc. is a global supplier, and manufacturer of spray
polyurethane foam insulation, reflective roof coatings, and equipment,
designed to reduce energy consumption in the residential, industrial and
commercial markets, for both new construction and retrofit applications.
More information is available at www.lapolla.com.
Forward Looking Statements
Statements made in this press release that are not historical facts
constitute "forward-looking statements" pursuant to Section 27A of the
Securities Act of 1933, Section 21E of the Securities Exchange Act of
1934, and Private Securities Litigation Reform Act of 1995. Any such
forward-looking statements should be considered in context with various
disclosures made by Company about its business. All information herein
is as of date hereof. Company undertakes no duty to update any
forward-looking statement.
Copyright Business Wire 2014