Heliospectra Releases Half Year Report for January-June 2015 GÖTEBORG Sweden SAN FRANCISCO, CA - August 31, 2015 - (Newswire.com)
Heliospectra AB (OTCQB: HLSPY, FIRSTNORTH: HELIO), a world leader in intelligent lighting technology for plant research and greenhouse cultivation, increases it’s half year revenue by 113% from 1,863 KSEK in 2014 to 3,977 KSEK in 2015.
Staffan Hillberg, CEO of Heliospectra commented: “Our efforts in sales and marketing have been very successful, especially in the North American market. We have a multitude of units for evaluation with potential customers and it is our experience that this leads to increase in sales.”
After the end of the half year period, Heliospectra received its largest order ever equal to 672 KUSD (5.7 MSEK) from growers in Las Vegas in co-operation with American Cannabis. Installation is planned for Q4-2015.
The US market for medical cannabis is one of the fastest growing markets in North American and is forecasted to reach 10.2 MUSD in 2017 which is 700% growth from 2013. 23 states have approved legislation for growing medical cannabis and many more states are expected to follow. There are also plans for approvals in other countries such as Germany, UK and Australia plus expansion in Israel.
Staffan Hillberg, CEO of Heliospectra commented: “The market for our products and services and primarily the LX60-series grow lights is extensive. Heliospectra continues to stay ahead of the competition. The LX60-series has received top grades in all tests that have been done which is very promising for the future.”
Heliospectra, Half Year Report in brief, period Januari-June 2015:
- Net turnover was KSEK 3,977 (1,863)
- Operating profit/loss was KSEK -14,104 (-18,895)
- Proft/loss after tax was KSEK -14,237 (-19,546) or SEK -1 (-1) per share
- Operating cash flow was KSEK -15,521 (-16,987)
The complete report is available on the IR pages at www.heliospectra.com
About Heliospectra AB
Heliospectra AB (OTCQB: HLSPY, FIRSTNORTH: HELIO) (www.heliospectra.com) specializes in intelligent lighting technology for plant research and greenhouse cultivation. The Company’s lighting system provides an effective and durable technology for cultivating greenhouse and indoor plants by combining several different groups of versatile light emitting diodes (LEDs) with optics, remote sensing techniques, and a robust heat dissipation solution. This proprietary setup gives growers the ability to control the intensity and wavelengths of the light emitted, creating a spectrum specifically adjusted to different plant species and growth stages to better facilitate photosynthesis. The complete, highly-engineered lamp produces crops that look better, taste better, and have a longer shelf-life than those grown under HID lamps. The technology not only reduces energy consumption by up to 50%, but also helps stimulate growth characteristics and improve plant quality. Other benefits include reduced light pollution, lower mercury use due to the avoidance of traditional HID/HPS bulbs, and less HVAC investment and monthly expense requirements.
Heliospectra products are based on in-depth knowledge in plant physiology and photosynthesis along with a unique way to utilize modern LED technology. After six years of development in Sweden, the company has now begun to expand into the international market. The company has raised more than $ 18 million in capital and has received more than $2.6 million through academic scholarships and grants. It has also received numerous awards for its forward thinking technology. Principal owners: Weland Steel www.welandstal.se, Swedish Industrial Fund www.industrifonden.se, Midroc www.midroc.se, Wood & Hill Investment www.whab.se
Forward-Looking Statements
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
Contact
Investor Relations:
Michael Swartz
Senior Analyst
Viridian Capital Advisors, LLC
Tel: 212-333-0257
Email: mswartz@viridianca.com
Staffan Hillberg, CEO
Heliospectra AB
Tel: +46-708-36 59 44
Email: staffan@heliospectra.com
Contact Info:Heliospectra AB (HLSPY)
25 Taylor St
San Francisco
CA 94102
United States
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Original Source: Heliospectra's Positive Development Continues
