Heliospectra, Swedish specialist for intelligent lighting technology for plant research and plant cultivation, released its Q3 2015 report this morning. Highlights were revenues that more than doubled, a strong order intake (in particular the largest order ever of SEK 5.7m) and a positive outlook statement.
CEO Staffan Hillberg comments:
“Heliospectra continues to achieve success for our Company and our shareholders. Last year we had revenues of just over SEK 3 million for the whole year. So far this year we have reached SEK 6 million in turnover, and booked our largest order ever for SEK 5.7 million ($US 672,000) for delivery during the fourth quarter of 2015. We also have many systems being piloted by customers around the world. We have world-leading technology which is attracting collaborations and orders from operators such as the German Aerospace Centre, MIT Media Lab and other renowned institutes and universities around the world. We were recently featured in two international reports on our two key markets, LED growing and intelligent greenhouses, and we were one of two smaller companies being compared with larger players such as Philips and Osram.
The reports point out that the markets we operate in are set to experience strong growth, with a forecasted compound annual growth rate of more than 20% through 2020. The market for medicinal cannabis in the USA is one of the fastest growing industries in North America, growing by more than 70% in each of the last two years. Heliospectra is seen by the market as a strong and serious player with profound expertise in LED growing lamps. We take part in the most important industry expos and investor events, and are visible in the right contexts.
Our collaboration with Dr. Sue Sisley has received much positive attention. Dr. Sue Sisley is one of the most widely respected scientists in the industry, and her research on the benefits of medical cannabis for war veterans dealing with mental health issues has been widely acclaimed. We are also seeing similarly positive results in children with epilepsy, MS sufferers, cancer patients etc. Throughout Europe, MS sufferers can buy Sativex, a medicine from an eminent pharmaceutical company GW Pharma in England which grows medicinal cannabis.
Our principal shareholder has continued to actively support us throughout the year. The Weland Group has provided capital for expansion in terms of loans as well as participating in the share issue in August and also now in the exercise of warrants TO1 coming out in September. Midroc has also declared that they are using their warrants and in parallel are contributing, among other things, by using their contacts in the Middle East to ensure we are part of the Qatar project which is aiming to streamline cultivation and minimise the use of water. This is of great interest to many parts of the world, for example California and not least in China where there are problems of contamination in both soil and groundwater.
We have said it before but it is worth repeating. World-leading technology, with application in several rapidly growing markets, along with strong main shareholders, is a winning combination. The coming years will be an exciting journey that we taking along with our shareholders. To easily follow our development we suggest you visit our website www.heliospectra.com and sign up for our newsletter.”