Photonstar LED Group PLC Supply agreement - renewal with expected growth (9169A)
June 13 2016 - 2:00AM
UK Regulatory
TIDMPSL
RNS Number : 9169A
Photonstar LED Group PLC
13 June 2016
13 June 2016
PhotonStar LED Group Plc
Supply agreement - renewal with expected growth
PhotonStar LED Group Plc (AIM: PSL, "PhotonStar" or "the
Group"), the British designer and manufacturer of smart LED
lighting solutions, is pleased to announce the renewal of a rolling
one year exclusive supply agreement with a major UK housebuilder,
to supply LED lighting fixtures for all of the housebuilder's new
homes.
Following extensive testing over a one year trial in 2011,
PhotonStar was able to successfully demonstrate cost effective (on
a cost per plot basis) CO2 emission reduction in multiple property
types through a lighting upgrade leading to an exclusive supply
agreement in 2012, which has been renewed for a further year under
the same rolling terms but with new upgraded LED fixture
products.
Since the original agreement, PhotonStar has seen an increase in
the number of LED fixture products supplied under the agreement due
to both the increase in the volume of properties built, and the
range of those properties using the Group's LED fixture
products.
With a failure rate of less than 0.01%, the PhotonStar LED
product reduces the number of luminaires needed to light a standard
room by approximately 30%; this in turn reduces both material and
install labour costs, and contributes to reducing the carbon impact
of homes.
James McKenzie, CEO of PhotonStar LED Group PLC, commented:
"Our relationship with one of the UK's biggest housebuilders has
progressed over more than four years to be one of trust, built on
our continuing commitment to quality manufacture and
technology.
"Their approach to developing quality sustainable properties by
working closely with their supply chain is well suited to the
PhotonStar philosophy of providing expertise and quality products
to our customers."
For further information:
+44 (0)2381
PhotonStar LED Group Plc (www.photonstarled.com) 230381
James McKenzie - Group Chief Executive
+44 (0)20 7600
finnCap 1658
Adrian Hargrave/ Giles Rolls (Corporate
Finance)
Mia Gardner (Corporate Broking)
+44 (0)20 3861
Northland Capital Partners 6625
Patrick Claridge/David Hignell
(Corporate Finance)
John Howes/Rob Rees (Corporate
Broking)
+44 (0)20 7457
Instinctif Partners 2020
Kay Larsen/Chantal Woolcock
About PhotonStar LED Group Plc
PhotonStar LED Group Plc is a leading British designer and
manufacturer of intelligent lighting & building control
solutions. The Group's proprietary technology Halcyon(TM) is a
scalable, secure wireless IoT platform for retrofit into commercial
buildings, for energy reduction, asset monitoring & control,
and real time environmental, behavioral and energy insights.
PhotonStar is based in Romsey, Hampshire with a manufacturing
facility in Wales.
This information is provided by RNS
The company news service from the London Stock Exchange
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