Heliospectra (OTCQB: HLSPY), a world leader in intelligent lighting technology for crop cultivation and plant research, today announced an order valued at SEK 2.2m for the Heliospectra LX601C cannabis-focused LED light hardware and software system. The customer is a Washington state grower with a license to cultivate medicinal marijuana plants. The first part of the order has shipped and installation is expected to start this month.
Staffan Hillberg, CEO of Heliospectra, commented, “Like other successful growers, our customer is focused on optimizing the ratio of revenue to cost per square meter. The Heliospectra solution empowers growers to achieve this with canna-specific features like far red wavelengths, which accelerates harvests, and light recipes based on the natural cycle of sunrise and sunset.” Hillberg continued, “Discerning growers look for solutions proven to improve crop quality and yield while they also minimize both lighting and HVAC-related energy costs. Additionally, we’re seeing a greater focus on environmental stewardship. Growers want to protect the natural resources and ecologies of the communities in which they operate. We’re pleased to help growers achieve both their financial and environmental objectives with the Heliospectra solution.”
In the press release, Heliospectra states that it projects growth in sales to cannabis growers as the North American marijuana market continues to boom. According to a new ArcView Market Research report, the market reached $5.4 billion in 2015 and is expected to grow at a compound annual growth rate of 30 percent to reach $21.8 billion in 2020. Twenty-three US states have legalized marijuana to some degree. Recreational marijuana legislation is pending in seven states; another four states may pass medicinal marijuana laws this year.