Photonstar LED Group PLC Supply agreement - renewal with expected growth (9169A)

TIDMPSL

RNS Number : 9169A

Photonstar LED Group PLC

13 June 2016

13 June 2016

PhotonStar LED Group Plc

Supply agreement - renewal with expected growth

PhotonStar LED Group Plc (AIM: PSL, "PhotonStar" or "the Group"), the British designer and manufacturer of smart LED lighting solutions, is pleased to announce the renewal of a rolling one year exclusive supply agreement with a major UK housebuilder, to supply LED lighting fixtures for all of the housebuilder's new homes.

Following extensive testing over a one year trial in 2011, PhotonStar was able to successfully demonstrate cost effective (on a cost per plot basis) CO2 emission reduction in multiple property types through a lighting upgrade leading to an exclusive supply agreement in 2012, which has been renewed for a further year under the same rolling terms but with new upgraded LED fixture products.

Since the original agreement, PhotonStar has seen an increase in the number of LED fixture products supplied under the agreement due to both the increase in the volume of properties built, and the range of those properties using the Group's LED fixture products.

With a failure rate of less than 0.01%, the PhotonStar LED product reduces the number of luminaires needed to light a standard room by approximately 30%; this in turn reduces both material and install labour costs, and contributes to reducing the carbon impact of homes.

James McKenzie, CEO of PhotonStar LED Group PLC, commented:

"Our relationship with one of the UK's biggest housebuilders has progressed over more than four years to be one of trust, built on our continuing commitment to quality manufacture and technology.

"Their approach to developing quality sustainable properties by working closely with their supply chain is well suited to the PhotonStar philosophy of providing expertise and quality products to our customers."

For further information:

 
                                                     +44 (0)2381 
 PhotonStar LED Group Plc (www.photonstarled.com)     230381 
 James McKenzie - Group Chief Executive 
 
                                                     [phone] 
 finnCap                                              1658 
 Adrian Hargrave/ Giles Rolls (Corporate 
  Finance) 
 Mia Gardner (Corporate Broking) 
 
                                                     [phone] 
 Northland Capital Partners                           6625 
 Patrick Claridge/David Hignell 
  (Corporate Finance) 
 John Howes/Rob Rees (Corporate 
  Broking) 
 
                                                     [phone] 
 Instinctif Partners                                  2020 
 Kay Larsen/Chantal Woolcock 
 

About PhotonStar LED Group Plc

PhotonStar LED Group Plc is a leading British designer and manufacturer of intelligent lighting & building control solutions. The Group's proprietary technology Halcyon(TM) is a scalable, secure wireless IoT platform for retrofit into commercial buildings, for energy reduction, asset monitoring & control, and real time environmental, behavioral and energy insights.

PhotonStar is based in Romsey, Hampshire with a manufacturing facility in Wales.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCFMGMVKGGGVZM

(END) Dow Jones Newswires

June 13, 2016 02:00 ET (06:00 GMT)