27 Jul 2015 07:00
27 July 2015
PhotonStar LED Group plc
Supply contract with UK professional electronics company
PhotonStar LED Group plc (AIM: PSL, "PhotonStar" or "the Group"), the British designer and manufacturer of smart LED lighting solutions, has secured a substantial supply contract for its Camtronics Vale contract manufacturing business, with a leading-edge UK-based professional electronics company. The contract is for the manufacture of a high value sophisticated consumer product at Camtronics' factory in Tredegar, South Wales.
The financial terms of the 12 month contract have not been disclosed but it is expected to generate revenues in the region of £0.5m in the current financial year, helping to underpin this year's forecasts.
Production of qualification and trial products has taken place and volume manufacture is expected to commence within a few weeks, generating initial revenues in August 2015. Volumes are planned to grow significantly during the next several months.
James McKenzie, CEO of PhotonStar, said:
"We are delighted to be making such an outstanding technology product at our factory here in the UK. This contract represents a strong endorsement of our advanced manufacturing capabilities and will generate significant revenues for the Group during the current financial year."
Enquiries:
PhotonStar LED Group plc | +44 (0)2381 230 381 |
James McKenzie - Chief Executive Officer |
|
|
|
finnCap | +44 (0)20 7220 0500 |
Geoff Nash/Giles Rolls - Corporate Finance |
|
Malar Velaigam - Corporate Broking |
|
|
|
Instinctif Partners | +44 (0)20 7457 2020 |
Adrian Duffield/Kay Larsen |
|
About PhotonStar LED Group plc
PhotonStar LED Group plc is a leading British designer and manufacturer of intelligent lighting solutions. The Group's proprietary technology halcyon™ is a connected lighting platform that includes hardware and software for wireless, microprocessor controlled retrofit LED lighting and control systems, optimised for energy saving, circadian and data-centric applications.
As light is needed wherever there are people, the halcyon platform can also provide a connected grid that will enable rich data collection, as well as an ecosystem to enable other devices to operate.
PhotonStar is based in Romsey, Hampshire with manufacturing in Wales.