PhotonStar LED announces exclusive supply agreement
PhotonStar LED Group plc (AIM: PSL, "PhotonStar" or “the Group”), the British designer and manufacturer of smart LED lighting solutions, has announced a rolling one year exclusive supply agreement with a major UK house builder, to supply LED lighting fixtures for all of the developer’s new homes. The products will be supplied through UK wholesalers.
In the last year, the house builder completed 1500 homes, and is forecasting continued growth. All new properties will be subject to new legislation requiring improvement in energy efficiency including lighting.
The new legislation - Code for Sustainable Homes is an environmental impact rating system for housing in England and Wales. The first level (3) of the code has recently become mandatory on all new properties, with increasing targets for CO2 emission reduction over the next four years. Developers have a number of choices on how they will achieve these reductions.
Following extensive testing over a one year trial, 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.
The financial terms of this contract have not been disclosed, but are expected to have an increasing impact as the House Builder moves to the new property designs.
James Mckenzie, CEO of PhotonStar LED Group PLC, commented:
“We are delighted that they have now received the endorsement of a major UK house builder. It also serves as a credible introduction into new wholesale stockists”
PhotonStar LED Group plc James Mckenzie – Group Chief Executive 02381 230381 David Holloway – Group Chief Financial Officer 01495 713077 Finncap Geoff Nash/Charlotte Stranner/Brian Patient (Broking) +44 (0)20 7600 1658 College Hill Adrian Duffield/Jon Davies +44 (0)20 7457 2020