Important events January - March
- Heliospectra received an order to the value of approx. SEK 1 million from an existing customer for the cultivation of medicinal plants.
- The company secured loan financing to compensate for the negative cash flow.
- Heliospectra has engaged Viridian Capital & Research in North America for financing and management consultancy.
- Exceptional results for Gothenburg botanical garden using Heliospectra's new LX60
- At an extraordinary general meeting, the board got the approval for a new issue of shares and/or subscription rights.
CEO's comments: Slowly but surely, the investment into sales and marketing of our new LX60 product is beginning to gain momentum. During 2014, the company had a turnover of SEK 3.1 million and in Q1 this year, we have already turned over SEK 2.1 million.
It is important to remember that the sale of sophisticated systems takes time as we focus on larger customers who perform more thorough assessments. A grower who is investing in a new system needs to undertake practical testing during several growing batches and sometimes over several seasons. Simpler plants like lettuce take about a month whereas medicinal plants can take up to four months. The results must then be evaluated.
Therefore, we have our systems out with growers, both in Europe and in North America and we spend a lot of time and resources on our potential customers. In January, we saw the result of this work when a North American grower of medicinal plants placed a follow-up order of about SEK 1 million.
One of the significant differences between Heliospectra and other products on the market is that we sell a system. The system is made up of an advanced controllable lamp to which we then add sensors and software. This means that we build up an established base of customers to whom we can then sell more and create a lucrative repeat business model. The customer's largest investment is of course the lamps in which the greatest cost is the hardware. With the lamp alone, the customer gains a number of benefits such as energy savings, quality improvements etc. We can then offer the customer further improvements for a lower cost, as at that stage it's more about pure software. Heliospectra develops all its software in-house and for any partnership work we do, for example with Chalmers, we own all the rights.
Heliospectra is careful to protect as many of our intellectual property rights as we can, employing a patent strategy that we have drawn up together with our advisors Prospero and Awapatent. This means that we apply for patents where this is relevant but that we sometimes choose not patent things such as algoritms as we want to keep these completely secret.
As already stated, the company is well positioned. We have great staff, finished products with a good reputation on the market, strong main owners and a fast-growing market.
Staffan Hillberg, CEO Heliospectra AB
Upcoming reporting dates
- Annual General Meeting 5/6/2015
- Half-year report January-June 31/8/2015
- Quarterly report July-September 26/10/2015
- Financial statement bulletin 2015 26/02/2016
For a full report see attached pdf.
Gothenburg, 30 April 2015
Staffan Hillberg, CEO Heliospectra AB
For further information, please contact CEO Staffan Hillberg, +46 (0)708-365944, staffan@heliospectra.com Chairman Jan Tufvesson, +46 (0)706-442460, jan.tuf@telia.com CFO Håkan Bengtsson, +46 (0)705-558902, hakan.bengtsson@heliospectra.com
The following documents can be retrieved from beQuoted Heliospectra Delarsrapport Q1 2015.pdf Heliospectra Interim Report Q1 2015.pdf
Heliospectra in brief Heliospectra (publ - listed on Nasdaq Stockholm First North) was founded in 2006 and specializes in intelligent lighting technology for plant research and greenhouse cultivation. Heliospectra products are based on in-depth knowledge of plant physiology and photosynthesis together with a unique method of assimilating modern LED technology. After six years of development in Sweden, the company has now begun to expand on the international market. The company has amassed approximately USD 16 million of equity and has received over USD 2.6 million dollars through academic scholarships. Heliospectra has also received numerous awards for its forward thinking technology. For further information, please refer to Heliospectra's prospectus April/May 2014, http://ir.heliospectra.com/aktien/prospekt/ .
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