Business
Innovest Energy Group Secures Manufacturing and Begins Selling Branded Lighting Products
Innovest Energy Group Secures Manufacturing and Begins Selling Branded Lighting Products.
About this update from Innovest Global Inc
[{"type":"text","content":"\n \n Innovest Global, Inc. (OTC Markets: IVST), \n a diversified industrials company, announces today that its Energy Group \n (IEG) is now producing and selling branded LED lighting solutions. \n Manufacturing the products is significantly less expensive than buying \n them, and allows for increased margins and even better pricing to \n clients, and a best in class product.\n \n \n In March, IEG had its highest LED lighting revenue month at $488,000; \n over four times the revenue generated by lighting in similar months at \n the time of acquisition in 2018. Now, IEG will not only achieve higher \n margins by installing its own products on its own jobs, but will open \n another revenue stream by selling those products wholesale through its \n channel partners.\n \n \n “In 2018 we built the foundation of our Industrial offerings,” said Dan \n Martin, Innovest's Founder, Chairman, and CEO. “In 2019 we are \n streamlining those businesses, making them more profitable, and most \n importantly putting them in a position to grow in 2020 and beyond. Not \n only by having world class service providers and corporate team members, \n but also by vertical integrations and adding other little things that \n make a big difference.”\n \n \n Three weeks ago, Innovest announced new growth and profitability efforts \n in its building materials business led by Tony Crookston (April \n 2, 2019 news release). Similarly, Innovest president Damon Mintz has \n empowered new IEG president Mark Kelly to execute his vision to make the \n Energy Group a high performance, high growth, long-term asset to \n Innovest. “Mark impressed all of us at Innovest by getting results right \n away, and we are thrilled by this new achievement which opens even more \n opportunity for growth,” said Mr. Mintz. “We’re excited about all of our \n leaders, and the progress we are making as a business both corporately \n and within our business units.”\n \n \n More about Mark Kelly:\n \n \n After the Navy, Mr. Kelly worked in the steel industry as an electrician \n and field engineer while using the GI Bill to simultaneously earn his \n engineering degree from the University of Akron. His career in energy \n efficiency solutions began at GE Lighting – GELcore/Lumination, and \n continued to Cooper Lighting (subsequ...