Heliospectra to Partner with Nectar Farms on MITRA LED Lighting Solutions for Large Scale Glasshouse Installation in Australia
(GOTHENBURG, Sweden / TORONTO, Canada / TOKYO, Japan / SAN FRANCISCO, CA, October 24, 2019) – Heliospectra AB (publ) (OTCQB: HLSPY, FIRSTNORTH GROWTH MARKET: HELIO), a world leader in intelligent lighting technology for greenhouse and controlled plant growth environments, announces a new order for MITRA LED lighting solutions from Nectar Farms in Victoria, Australia. The order value is SEK 72 million and includes a down payment of 50 percent during Q4 2019. The production will not be initiated until Heliospectra receives the down payment. Revenue is expected during the second and third quarter of 2020 when the lighting is scheduled to be shipped and installed.
“Heliospectra and the high performance MITRA LED light will enable Nectar Farms to scale our glasshouse tomato production quickly,” said Stephen Sasse, Chief Executive Officer of Nectar Farms. “Our vision for Smart Farming integrates highest tech hydroponic systems, wind power and clean energy glasshouse installations, and Heliospectra’s advanced LED lighting solutions to strengthen our company’s commitment to resource-efficient food production. This also ensures Nectar Farms delivers high yield and highest-quality produce to our local retail markets and consumers.”
Nectar Farms is focused on reducing food miles and creating hundreds of new industrialized agriculture jobs with closer proximity to local Australia and Asia export markets. As Nectar Farms scales operations, the company will automate and standardize production with glasshouse and Smart Farming technology installations across Australia to promote sustainable agriculture and community enterprise.
“Heliospectra is privileged to partner with Nectar Farms. We value the opportunity to deliver market leading MITRA LED lighting solutions designed specifically for light hungry crops such as tomato. Our team’s expertise in implementing large scale projects and expansion plans supports Nectar Farm’s vision for Smart Farming innovation and automation. Heliospectra ensures robust and reliable light quality and performance to control consistency and quality harvest after harvest,” said Ali Ahmadian, CEO, Heliospectra.
Investor Relations:
Ali Ahmadian, CEO of Heliospectra | +46 (0)72 203 6344 | ir@heliospectra.com
Heliospectra AB (publ) (OTCQB: HLS, FIRST NORTH: HELIO) is the global leader in intelligent lighting technology, light control systems and related services for greenhouse and controlled plant growth environments. With the vision to make commercial crop production more connected and resource-efficient, Heliospectra integrates customized LED spectral strategies with real-time response and artificial intelligence to create predictable and reliable business forecasts and harvest results. Founded in 2006, Heliospectra is committed to helping growers and commercial producers across six continents consistently increase yields and produce crops with quality appearance, superior nutritional or medicinal value and longer shelf life, harvest after harvest. Heliospectra is the recipient of multiple international awards and recognitions. 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 information that 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 08:30 CEST / 01:30 CDT on Oct 24 2019.