Lapolla's AirTight Program Leads to Green Building Retrofit Award
ENGLEWOOD CLIFFS, NJ – December 17, 2015 – The AirTight Division (“AirTight”), an operating unit of Lapolla Industries, Inc. (“Lapolla” or the “Company”) (OTCQB: LPAD), which markets, promotes, and sells energy saving products and energy reduction services, today announced the attainment of the Green Building Retrofit Award by Jacob Ford Village.
Jacob Ford Village, a 270 unit community in Morristown owned by Home Properties was presented with a Green Building Retrofit Award from the New Jersey Apartment Association in October 2015 for implementing AirTight’s Multi-Family Energy Reduction Program.
The AirTight Division’s Multi-Family Energy Reduction Program is a proprietary energy conservation measure program which involves providing for an energy use and savings analysis for a multi-family property and implementation of identified energy conservation measures suitable for such property with the goal of containing and reducing energy costs on an annual basis.
In 2014, Home Properties, together with a select group of consultants and contractors, embarked on AirTight’s energy reduction program for Jacob Ford Village. The project was accepted by NJ Clean Energy for its Pay for Performance Incentive Program, which provides rebates of up to 50% of the overall cost of improvements based on the amount of energy saved.
“Our goal going into the project was to reduce energy cost, reduce the carbon footprint and make more comfortable homes for the residents. Property owners can increase profitability and property value by decreasing their energy cost,” commented Howard Van Natta, Executive Vice President for AirTight.
“Working with the Lapolla / AirTight team on this project has been a great experience. They are professionals in every aspect of the work and step in the process. Not only did they deliver the energy saving results that were discussed since day one, they did it with a level of supervision and support that has truly benefited the property and our residents living environment,” said Brent Kohere Regional Vice President, Home Properties.
“We are thrilled that the Jacob Ford Village project was recognized for using cutting-edge technology to reduce their natural gas usage, on average, by an unprecedented 45 percent,” concluded Mr. Van Natta.
The AirTight Division with its current proven case studies is addressing the entire multi-family industry in the northeast and throughout the United States.
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 the Company about its business. All information herein is as of the date hereof. The Company undertakes no duty to update any forward-looking statement. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov.
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