Heliospectra replaces lights due to faulty fuse
(Gothenburg, Sweden October 7th, 2021, at 17.35 CEST) – Heliospectra AB replaces lights of the MITRA model following the identification of a faulty fuse. The error has been traced back to component level and is limited to limited production series. So far, the company has already replaced a quarter of the affected lights. However, Heliospectra has chosen to set aside an additional SEK 5.4 million in the forthcoming quarterly report to cover additional warranty and conversion costs should they arise.
In Q3 of this year, Heliospectra received support requests from a few of our North American customers citing performance issues with their MITRA Led Lights. Heliospectra underwent a thorough internal investigation of the issue and acted quickly – the company has already replaced a quarter of the lamps involved. The issue was traced back to the component level, and it was discovered that a faulty fuse had been installed in a limited production series.
Heliospectra has completed an internal investigation of the issue, resulting in the company replacing a quarter of the lamps involved. However, a warranty commitment has been made by Heliospectra to cover the entire production series. This means the company has set aside an additional SEK 5.4 million to cover any additional warranty and conversion costs that might arise in the future.
The company wants to make it clear that the affected lights do not pose a safety risk to growers who continue to use fully functioning products. In the worst case, the faulty fuse will cause the product to completely or partially switch off.
“We apologize and take what happened seriously. Heliospectra stands for Swedish quality and conducts a series of quality tests to detect and identify potential defects in production. We have identified the error and taken measures to prevent it from happening again”, says Hanna Rüdel, Vice President of Technical Services at Heliospectra.
For More Information:
Rebecca Nordin, Head of IR at Heliospectra | +46 (0)72 536 8116 | ir@heliospectra.com
Heliospectra AB (publ) (Nasdaq First North Growth Market: HELIO) was founded in 2006 in Sweden by plant scientists and biologists with one vision – to make crop production more intelligent and resource-efficient. Today, with customers across seven continents, Heliospectra is the global leader in innovative horticulture lighting technology, custom light control systems and specialized services for greenhouse and controlled plant growth environments. Designed by growers for growers, Heliospectra builds customized LED lighting strategies and controls to automate production schedules, forecast yields and monitor crop health and performance with real-time data and response, to deliver the light plants love and the consistent results growers need.
For more information, please visit https://www.heliospectra.com.
Company HELIO is listed at Nasdaq First North Growth Market with Redeye AB as Certified Adviser:
Certifiedadviser@redeye.se, +46 (0)8 121 576 90.
Forward-Looking Statements
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
This information is such which Heliospectra AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:35 CEST on October 7th 2021.