LightwaveRF Signs Deal With Powerdiverter, Gets Australian Order

LONDON (Alliance News) - LightwaveRF PLC on Thursday said it has secured a technology licence deal with UK electricity efficiency products company Powerdiverter and has received its first order for the Australian market.

The company, which has developed an Internet of Things platform to let people control connected devices in the home, said Powerdiverter, which helps users to optimise electricity usage, will build LightwaveRF technology into its controller unit.

As part of the agreement, Apricus, Powerdiverter's Australian distributor, will start to sell associated LightwaveRF products with the Powerdiverter controller unit.

A first order for LightwaveRF products has been made, worth USD250,000.

"This is our first licence deal which gives added benefits to the growing LightwaveRF customer base. It also adds Australia to the LightwaveRF map," said Mike Lord, LightwaveRF's chief executive.

Shares in the company were down 4.2% to 20.125 pence.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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