Onteco Corporation, ONTC, Issues Product Development Update

MIAMI, March 27, 2012  /PRNewswire/ -- Onteco Corporation (OTC.QB: "ONTC"), (the "Company", or "Onteco"), provided today an update on its lighting products that are state-of-the-art solid state LED lighting that the Company, through its subsidiary, NexPhase Lighting, Inc., has been developing the past eighteen months.

Dror Svorai, President, stated, "We believe that the Company has made significant engineering and marketing progress since the acquisition of NexPhase Lighting, Inc. in 2011 and the launch of our LED product line. Today, we have UL-approval, or approvals pending, on several of our LED products, each with unique built-in patent-pending technology.  Having such approvals in place is a true requirement to significantly penetrating the U.S. marketplace, and obtaining the approvals and patent applications has been both time and resource intensive for us.  As a result of our progress, we expect significant growth throughout 2012 as more new, intelligent LED products go into production."

About Onteco Corporation                                                                         

Onteco Corporation was founded to develop innovative, practical and cost-effective solutions to some of the most significant environmental challenges facing us today. Additionally, these solutions must show promise of generating significant, ongoing profits for the company. The company determined that one industry that meets these criteria is the Energy Saving Lighting Industry, and as a result acquired NexPhase Lighting, Inc., in February 2011. The need for energy efficient lighting at affordable prices is growing rapidly throughout North America and around the globe. Onteco continues to target this market and hopes to capitalize on the world's growing need for energy saving lighting solutions.

Additional information about Onteco Corporation is available at: www.Onteco.com

About NexPhase Lighting, Inc.

NexPhase Lighting, Inc. is a designer and developer of proprietary high quality LED (light-emitting diode) lighting fixtures and control systems for commercial applications. It believes its products will be the lowest cost, highest efficacy fixtures available in the LED Lighting Industry.  All NexPhase lighting products incorporate its proprietary "NexSense Technology ™", which provides benefits well beyond the generally acknowledged advantages of all other LED lighting fixtures.   NexSense control systems use a unique, "patent pending' wireless protocol, which provides for an unsurpassed reduction in architecture and infrastructure installation cost in commercial applications, as well as significantly reduced maintenance and ongoing operation costs.

For more information about NexPhase Lighting, Inc. visit: http://www.nexphaselighting.com 

Safe Harbor Statement:

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.

CONTACT: Onteco Corporation
Dror Svorai, President, (305) 932-9795

SOURCE Onteco Corporation

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