Leading Spray Foam Insulation Company’s New Program Allows Property Owners and Landlords to Save up to 50% on Energy Bills
HOUSTON–April 28, 2014–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.
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