Heliospectra announces this morning that its large shareholders Weland Värdepapper and Midroc New Technology are exercising their TO 1 warrants. In connection with this, the company will thereby receive around SEK 11m.
Says Heliospectra’s CEO Staffan Hillberg: “Never before, have we been that well equipped to achieve both commercial success and profitability. We know our path ahead and how we have to approach it. We are focused, customer oriented, cost efficient, competitive and unique and we are active on a gigantic and strongly expansive market. Therefore it feels particularly positive that we have strong owners behind us.”
The warrants were issued in connection with the company’s listing in 2014.
Heliospectra’s premier product is its patented, energy-efficient LX60 Series LED system. The LX60 is the most sophisticated, modular LED lamp available for commercial and R&D grow operations worldwide. The LX60 is wi-fi enabled, allowing for online monitoring, scheduling and control. Among other features, external sensors and software can be added to the system.
In July, the company announced that it has successfully sold one of the largest LED cultivation installations in the world to a Las Vegas, NV cannabis licensee. Phase I of this contract represents over 672K USD (5.7 million SEK) in revenue for Heliospectra’s LX601C lamps and is to be installed during Q4 2015. American Cannabis, Heliospectra and the operator have designed a cutting edge facility that will deliver high quality end product at lower cost, with a substantially lower carbon footprint, than the current HID or HPS lamps used in similar operations.