GOTEBORG, Sweden and SAN FRANCISCO, July 16, 2015 /PRNewswire/ -- Heliospectra AB (OTCQB: HLSPY, FIRSTNORTH: HELIO), a world leader in intelligent lighting technologies for plant research and greenhouse cultivation, and American Cannabis Company, Inc. (OTCQB: AMMJ), a full-service cannabis industry consultant and provider of proprietary and preferred products, have successfully sold one of the largest LED cultivation installations in the world to a Las Vegas, NV cannabis licensee.
Phase I of this contract represents over 672K USD (5.7 million SEK) in revenue for Heliospectra's LX601C lamps and is to be installed during Q4 2015. American Cannabis, Heliospectra and the operator have designed a cutting edge facility that will deliver high quality end product at lower cost, with a substantially lower carbon footprint, than the current HID or HPS lamps used in similar operations.
"Not only is this our largest deal to date, it is one of the largest indoor, horticultural LED installations in the world. This operator represents the culmination of hard work – from our product engineering to American Cannabis's facility design. Like so many of the lamp trials that we currently have underway, this operator did their due diligence – they spent the time needed to learn about Heliospectra and our product. Light choice and smart facility design takes time, but smart partners understand that their decisions will have a sustainable, lasting impact," says Staffan Hillberg, CEO, Heliospectra AB. "The operator asked the right questions, visited our facilities in Sweden, toured our current installations and gained a strong grasp for the direction we are headed as a company – they're an excellent customer / partner - we couldn't be more thrilled and this is just the beginning. We expect other customers that are looking at us, and trialing our lamp, to follow the same route. "
Further, American Cannabis Company's CEO Corey Hollister praised the sustainable approach taken by the operator. "With the rapid advancement in the scale and complexity of indoor horticultural facility design, the adoption of new technologies is critical. Our client looked at the long-term viability of their business and made an informed decision to ensure they have a sustainable model for now and for the future."
With traditional agriculture and archaic lighting technology taking a back seat to in-door, greenhouse and vertical operations, deals of this magnitude can be expected to happen more frequently. Growers and operators are beginning to recognize lost revenue when technology is not employed to leverage expertise. The cannabis industry is a front-runner for agriculture right now in that higher revenue margins are allowing growers to invest in technology that results in lower costs of goods sold. American Cannabis, Heliospectra and smart operators are becoming more and more visible as growers seek alternatives to archaic HID / HPS lighting and wasteful HVAC systems.
"We love working with smart growers and this operator has demonstrated a pragmatic, effective approach to choosing the right technology for their grow. With the operation in an environmentally sensitive location – we can demonstrate how Las Vegas will save electricity and conserve water. Equally as important - the Heliospectra LX601C delivers the yield the market demands – our superior engineering ensures that. The goal here is net revenue and that involves many factors beyond intensity and spectrum. This operator did the math – they see that our unique heat dissipation solution, dynamic software and ability to collect data will have a substantial impact on their bottom line," says Chris Walker, General Manager USA, Heliospectra AB.
He continued: "The cannabis industry is maturing fast and smart growers see the writing on the wall – its time for cultivation facilities to evolve. Growing a high-grade product and unique branding will fetch a premium, but ultimately, this is a commodity and commercial facilities can gain a serious competitive edge by employing our technology. We plan to market our results with this operator through Case Studies and videos, further promoting all three companies and Las Vegas as a forward thinking city, but most importantly the sustainable impact this approach has on the operator's business model."
About Heliospectra AB
Heliospectra AB (publ - listed on NASDAQ OMX First North HELIO ISIN SE0005933082 as well as North American ADR OTCQB: HLSPY Cusip: 423281104) (www.heliospectra.com) specializes in intelligent lighting technology for plant research and greenhouse cultivation. 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 $ 15 million in venture 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. Principal owners: Weland Steel www.welandstal.se, Swedish Industrial Fund www.industrifonden.se, Midroc www.midroc.se, Wood & Hill Investment www.whab.se
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.
SOURCE Heliospectra AB