212k over 6 yrs just the start24 Jul 2012 13:14
The board of Directors of LED is pleased to announce that the Company's indirect subsidiary, Shenzhen Strongbase New Opto-Electronics Technology Co. Ltd. ("Strongbase New"), has been awarded an energy management contract (the "EMC Contract") by Li Xian Hua Xiang Yin Sheng Textiles Limited ("Li Xian"), based in Hunan, China. The projected revenue under the EMC Contract to Strongbase New is approximately RMB2,100,000.00 (approximately £212,000.00) over a six year period.
Under the EMC Contract, Strongbase New will fit out Li Xian's manufacturing facilities with its energy-saving solutions. Specifically, Strongbase New will incorporate reactance filtering equipment into Li Xian's existing power consumption systems (which are based on traditional power generation equipment). It is expected that the new energy-saving solutions introduced by Strongbase New will bring about energy cost savings of at least 14% to Li Xian.
Strongbase New will bear all the upfront costs associated with the supply and installation of the equipment at Li Xian's premises and will then recoup these costs by way of annual instalments payable by Li Xian, based on, inter alia, the level of energy cost savings achieved