Heliospectra AB (OTCQB: HLSPY, FIRSTNORTH: HELIO), a world leader in intelligent lighting technology for controlled plant growth environments, announced that Hawaiian cannabis grower Cure Oahu will be installing Heliospectra LED lighting solutions valued at $302,000 (2.5 million SEK) in early 2017.
Cure Oahu was awarded one of the original eight state licenses in April 2016 to grow and sell medicinal cannabis. Their operation is currently pending the Hawaiʻi State Department of Health’s Notice to Proceed to Acquire and Cultivate Marijuana.
“Heliospectra combines plant science expertise with a real time, data-driven lighting control system for utmost flexibility, consistent medicinal properties and harvest results,” said Ali Ahmadian, the new CEO for Heliospectra. “As Cure Oahu moves forward and standardizes with Heliospectra lighting technology, we will partner with them to supply the optimal light spectrum for all stages of plant growth.”
Heliospectra also published its full-year 2016 report today, which was, however, without any substantial news. Sales increased by 65% compared to 2015 and reached SEK 26,2m. The operating loss amounted to SEK 42,8m burdened by major investments in marketing during the year. The company expects this to have positive effects during 2017.
A lot has happened on the legislative side in recent months when it comes to the consumption of cannabis, not only in the US but also in Danmark, Germany and the Netherlands. We hope, and believe, that this gradually will lead to increased order activity for Heliospectra as growers have better planning possibilities and will be able to commit to investments more whole-heartedly.
The value proposition of Heliospectra´s LED lighting system is very attractive and its effectiveness has been proven in various commercial installations around the world. Now we want to see an increase in scale. Yesterday´s order from Hawaii is a nice start.