Announcement
LightwaveRF PLC : Licence Agreement and Order
RNS Number : 8143L
LightwaveRF PLC
14 January 2016
14 January 2016
LightwaveRF Plc
(AIM: LWRF)
Licence Agreement and first order for Australian market
LightwaveRF plc ("LightwaveRF" or the "Company"), the creator of the LightwaveRF Smart Home Platform and products for the Internet of Things enabling households and businesses to remotely operate and control lighting, power, heating and security using smartphones, tablets, PC and Mac applications, announces it has signed a technology licence agreement with Powerdiverter and has received a first order for the Australian market.
The Powerdiverter helps owners of renewable energy systems such as solar PV, divert spare energy to their water heater, optimising the usage of excess electricity. Powerdiverter will build LightwaveRF technology in to its Powerdiverter controller unit to communicate directly with the LightwaveRF Link. Consumers will be able to use the LightwaveRF App to decide where to divert surplus generated electricity using connected sockets and switches for maximum payback and convenience. A licence fee will be payable for each Powerdiverter product that is LightwaveRF-enabled.
Powerdiverter Australian distributor, Apricus, will begin to sell associated LightwaveRF products with the Powerdiverter unit. A first order for an initially limited range of LightwaveRF products of USD 250,000 (£175,000) has been placed which brings the Company's current order book to over US$1.7m (c£1.2m).
Mike Lord, LightwaveRF's CEO, commented: "This is our first licence deal which gives added benefits to the growing LightwaveRF customer base. It also adds Australia to the LightwaveRF map."
Daniel Lawes, Power Diverter's Managing Director, added: "We have been very impressed with the reliability and ease of use of LightwaveRF technology compared with other possible technology partners. There are over 600,000 Solar PV installations in the UK and 1,000,000 in Australia for which the Powerdiverter/LightwaveRF product combination is very compelling."
For further information:
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LightwaveRF Plc |
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Mike Lord, CEO Tom Sykes, CFO |
+44 (0) 121 250 3625 |
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WH Ireland Limited |
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Mike Coe/Ed Allsopp (Corporate Finance) |
+44 (0) 117 945 3470 |
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Jasper Berry (Institutional Sales) |
+44 (0) 20 7220 1666 |
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This information is provided by RNS
The company news service from the London Stock Exchange
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