Heliospectra to Partner With Nectar Farms on MITRA LED Lighting Solutions for Large Scale Glasshouse Installation in Australia

GOTHENBURG, Sweden and TORONTO, Canada and TOKYO, Japan and SAN FRANCISCO, Oct. 24, 2019 /PRNewswire/ -- Heliospectra AB (publ) (OTCQB: HLSPY) (FIRSTNORTH: HELIO), a world leader in intelligent lighting technology for greenhouse and controlled plant growth environments, announces a new order for MITRA LED lighting solutions from Nectar Farms in Victoria, Australia. The order value is SEK 72 million and includes a down payment of 50 percent during Q4 2019. The production will not be initiated until Heliospectra receives the down payment. Revenue is expected during the second and third quarter of 2020 when the lighting is scheduled to be shipped and installed.

"Heliospectra and the high performance MITRA LED light will enable Nectar Farms to scale our glasshouse tomato production quickly," said Stephen Sasse, Chief Executive Officer of Nectar Farms. "Our vision for Smart Farming integrates highest tech hydroponic systems, wind power and clean energy glasshouse installations, and Heliospectra's advanced LED lighting solutions to strengthen our company's commitment to resource-efficient food production. This also ensures Nectar Farms delivers high yield and highest-quality produce to our local retail markets and consumers." 

Nectar Farms is focused on reducing food miles and creating hundreds of new industrialized agriculture jobs with closer proximity to local Australia and Asia export markets.  As Nectar Farms scales operations, the company will automate and standardize production with glasshouse and Smart Farming technology installations across  Australia to promote sustainable agriculture and community enterprise.  

"Heliospectra is privileged to partner with Nectar Farms. We value the opportunity to deliver market leading MITRA LED lighting solutions designed specifically for light hungry crops such as tomato. Our team's expertise in implementing large scale projects and expansion plans supports Nectar Farm's vision for Smart Farming innovation and automation. Heliospectra ensures robust and reliable light quality and performance to control consistency and quality harvest after harvest," said Ali Ahmadian, CEO, Heliospectra.  

Investor Relations:

Ali Ahmadian, CEO of Heliospectra
+46 (0)72-203-6344
ir@heliospectra.com

http://www.heliospectra.com

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SOURCE Heliospectra