LightLab Sweden and Wallenius Water strengthening cooperation
- The parties have signed an addendum to the existing license and development agreement
- Strengthened cooperation around market introduction and sales of an innovative water purification product
LightLab Sweden and Wallenius Water have signed an addendum to the existing license and development agreement, which was signed between the parties in November 2015. The addendum regulates industrialization, market introduction and sales of the water purification product from Wallenius Water, for which LightLab Sweden has developed a UV light source and drive unit electronics.
Lightlab Sweden and Wallenius Water are now strengthening their cooperation around industrialization, market introduction and sales of the actual water purification product. The addendum also includes a revised remuneration model between the parties. Instead of a royalty per sold unit to Wallenius Water’s water purification product, LightLab Sweden will, according to the new addendum, get part of the total revenue from sales of the end product, i.e. the water purification product.
The purpose with the now signed addendum is to enable faster and more efficient industrialization, market introduction and sales growth but also to increase flexibility regarding possible agreements with third parties. The goal is to establish market channels within the next six to ten months.
For LightLab Sweden the addendum means that the Company will now take a more active role in the commercialization of the actual water purification product and at the same gets an opportunity to generate faster and higher revenues from the cooperation project. As this is a new and innovative product, it is difficult to give detailed forecasts but dedicated market surveys point toward a significant potential.
”For LightLab Sweden as a technology provider, it is valuable to be able to take an active role also for the end product one step up in the value chain, in this case a water purification product for the consumer market, and we see clear commercial benefit in taking this step within the cooperation with Wallenius Water”, says Johan Tingsborg, CEO LightLab Sweden.
For further information regarding this press release please contact:
Johan Tingsborg, CEO
Tel: 46 (0)8 442 0550
E-mail: info@lightlab.se
This is LightLab Sweden AB
LightLab Sweden AB (publ), www.lightlab.com, develops, markets and offers a unique technology, EEE Light® that is sustainable and cost-effective. The focused applications are UV disinfection of water, air and surfaces. LightLab has over 4,300 shareholders. The company’s shares are listed on NASDAQ OMX First North. The company’s certified adviser is Erik Penser Bank.
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