[Press Release] Heliospectra AB (HLSPY) (FIRSTNORTH: HELIO), a world leader in intelligent lighting technology for controlled environments horticulture, is excited to announce their newest Canadian client, Canada's Island Garden. The order, valued at around $80,000 USD, is an important victory for Heliospectra in the Canadian market.
Canada's Island Garden is a private medical marijuana facility on Prince Edward Island. Edwin Jewell, owner, has designed a cutting edge facility where he plans to use state of the art growing methods, which includes the use of Heliospectra's LX60 Series intelligent LED grow lights.
"Initially we thought we'd use HPS lights, but quickly realized that made no sense financially. We switched to LED technology to lower our operating costs and manage heat. Canna-specific features like far-red light made the Heliospectra product attractive to me," said Edwin Jewell, owner, Canada's Island Garden.
According to MarketandMarket's LED Grow Light Market - Forecast to 2020report, the LED grow light sector in Canada is expected to have an annual growth rate of 23.74 %, reaching $185.85 million USD by 2020. Medicinal use of cannabis is legal in Canada. In November 2015, newly elected Prime Minister Justin Trudeau announced that possession of cannabis for adult use would be legalized, and a full legalization program is currently under development.
"Canada is one of our most important markets for controlled environments horticulture. With our Canadian patent approved in May last year, steady growth in the LED grow lights market, and top-of-the-line customers like Canada's Island Garden, we see a bright future for Heliospectra in this market," said Heliospectra CEO Staffan Hillberg.
About Heliospectra AB
Heliospectra AB specializes in intelligent lighting technology for plant research and greenhouse cultivation. The Company's lighting system provides an effective and durable technology for cultivating greenhouse and indoor plants by combining several different groups of versatile light emitting diodes (LEDs) with optics, remote sensing techniques, and a robust heat dissipation solution. This proprietary setup gives growers the ability to control the intensity and wavelengths of the light emitted, creating a spectrum specifically adjusted to different plant species and growth stages to better facilitate photosynthesis. The complete, highly-engineered lamp produces crops that look better, taste better, and have a longer shelf-life than those grown under HID lamps. The technology not only reduces energy consumption by up to 50%, but also helps stimulate growth characteristics and improve plant quality. Other benefits include reduced light pollution, lower mercury use due to the avoidance of traditional HID/HPS bulbs, and less HVAC investment and monthly expense requirements.
Heliospectra products are based on in-depth knowledge in plant physiology and photosynthesis along with a unique way to utilize modern LED technology. After six years of development in Sweden, the company has now begun to expand into the international market. The company has raised more than $ 21 million in capital and has received more than $2.6 million through academic scholarships and grants. It has also received numerous awards for its forward thinking technology.
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