PALM BEACH, Florida, May 10, 2017 /PRNewswire/ --
Technology companies in the booming new age lighting solutions market are capitalizing on a number of factors causing an expanding demand for enhanced, state-of-the-art lighting products and smart lighting systems. Companies in the industry with recent developments and news include: AV1 Group, Inc. (OTC: AVOP), Future Farm Technologies Inc. (OTC: FFRMF), Cree, Inc. (NASDAQ: CREE), General Electric Company (NYSE: GE), Vivint Solar, Inc. (NYSE: VSLR).
AV1 Group, Inc. (OTC: AVOP) is pleased to announce that the Company has successfully landed a $50,000 purchase order, for cutting-edge LED fixtures for an outdoor lighting project at a large marina in Long Beach, California. Lisa Landau, Director of Lighting, stated, "This was a very significant bid for us to win. This is a large complex with robust lighting needs in the near future and this has secured our spot as a competitive and viable lighting provider." Read this and more news for AVOP at: http://www.marketnewsupdates.com/news/avop.html
The Company recently announced its first lighting contract with the State of California Department of Corrections for custom lighting solutions. Designed with a state-of-the-art internal camera, the cutting-edge system will serve to illuminate and protect the facility's perimeters. "Because our technology is so cost-effective and versatile, we believe that this is only the first of many contract opportunities, that we have the potential to win," stated Bryen Beglinger, Chief Executive Officer of AV1 Group, Inc.
The Company also recently announced the successful acquisition of X-Fire Smart Systems, provider of LED lighting, Smart Grid Technology, Wireless Controlled Systems, Smart Parking Meters, Charging Stations, Utility Meters and Picocell Technology, in an advantageous equity-based transaction. The global 'Smart Cities' market is expected to increase from about $411 billion in 2014 to $1.1 trillion by 2019, at an annual growth rate of 22.5 percent, according to a 'Smart Cities Market' report by Markets and Markets.
In other industry developments and happenings:
Future Farm Technologies Inc. (OTCQB: FFRMF) in April announced that it is sold out of its exclusive line of Scorpion LED COB Grow Lights, which recently passed Intertek's ETL certification process. Intertek is one of the world's largest testing, inspection and certification companies and its ETL Mark is a proof of its product compliance to North American safety standards. With the ETL testing complete, Future Farm is now able to implement its planned sales and marketing strategy into the fast growing North American cannabis cultivation market.
Cree, Inc. (NASDAQ: CREE) extends its industry-leading OSQ Series of area and flood LED luminaires, delivering better performance, expanding applications and offering dramatic savings with the new Cree® OSQ High Output (HO) portfolio. The new luminaire more than doubles the top lumen output of the original OSQ Series with up to 65,000 lumens and can replace multiple metal halide (MH) 1000W fixtures. The result is more than 80 percent energy savings using one OSQ-HO luminaire. The new product extends the application range for open area and flood luminaires to projects with high mounting heights, including high mast and large parking lots and has special packages for outdoor automotive frontlines.
Current, powered by General Electric Company (NYSE: GE) announced this week that it has reached two significant milestones as it aims to lead the lighting industry's transformation towards the digital age. Over the past year, the company has expanded its development partner ecosystem to more than 100 companies and its Daintree wireless control networks are now installed across locations spanning 200 million square feet of space in commercial buildings, retail stores and industrial facilities. The installations are saving Current's customers an estimated 240 million kilowatt hours (kWh) annually or enough equivalent energy to power approximately 22,000 U.S. homes for a year. The digital networks also provide a gateway to future operational productivity benefits through the power of the Industrial Internet.
Vivint Solar, Inc. (NYSE: VSLR) reported a quarterly profit on Tuesday compared with a year-ago loss, helped by lower costs. The company reported net income attributable to shareholders of $13.3 million, or 11 cents per share, in the first quarter ended March 31, compared with a loss of $31.2 million, or 29 cents per share, a year earlier. Vivint Solar provides distributed solar energy to residential, commercial, and industrial customers in the United States. It also offers photovoltaic installation devices and software products.
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