Nice26 Mar 2015 13:29
RNS Number : 1417D
Alternative Energy Limited
26 January 2015
26 January 2015
ALTERNATIVE ENERGY LIMITED
("ALR" or the "Company")
Agreement for Distribution of Street Lighting Products in the UK
Highlights:
-- Distribution Agreement signed with Green Section Limited ("GSL") for the exclusive promotion and sale of the Company's energy saving street lighting products in the UK.
-- GSL's financial model will enable local authorities to exchange non-LED lights for more efficient LED lights without having to find the capital cost of the replacement lights.
-- ALR has developed and is currently producing an advanced range of chip on board LED street lights which provide greater thermal resistance, a larger cooling area, a better lighting effect and higher light efficiency than standard products.
Alternative energy (Europe) Limited, a wholly owned subsidiary of ALR (LSE: ALR) has signed a distribution agreement ("Distribution Agreement") with Green Section Limited for the exclusive promotion and sale of the Company's energy saving street lighting products (including e-lumen and e-lumen8 lighting and street lighting together with any similar products produced or released by the Company during the term of the Distribution Agreement ("Products"); being an initial term of 12 months and indefinitely thereafter until terminated by either party) in the UK.
Under the terms of the Distribution Agreement:
-- GSL has agreed not to distribute or manufacture any goods which compete with the Products during the term of the Distribution Agreement;
-- ALR retains the right to supply the Products directly to customers in the UK, but will not actively solicit order from the UK;
-- GSL has made a number of undertakings to the Company which provide comfort that it will use its best endeavours to promote the distribution and sale of the Products in the UK and has the capacity and controls to do so;
-- GSL will provide its customer with an after-sale repairs and maintenance service in respect of the Products in accordance with the terms of the service and maintenance manual provided by the Company;
-- GSL will be responsible for the advertisement and promotion of the Products in the UK for which ALR has granted non-exclusive rights to GSL to use certain of the Company's trade marks; and
-- GSL will pay list prices for the Products as notified by the Company to GSL.
Alternative Energy Limited has developed and is currently producing an advanced range of LED street lights under its eLumen8 brand; the eLUMEN8 lamp family utilises the latest COB (chip on board) LED technology engineered by its team in Singapore which is already being sold in Asia. The advantages of COB LED stems from the multi LED chips which are packaged together as one lighting module so providing greater thermal resistance, a larger cooling area, a better lighting effect and higher light efficien
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