Announcement

14
JANUARY
2016


Category Label


Client Announcements

LightwaveRF PLC : Licence Agreement and Order

  •  
  •   14 January 2016

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:

          

Contacts:

 

 

 

LightwaveRF Plc

www.lightwaveRF.com

Mike Lord, CEO

Tom Sykes, CFO

+44 (0)  121 250 3625 

 

 

WH Ireland Limited

www.wh-ireland.co.uk

Mike Coe/Ed Allsopp (Corporate Finance)

+44 (0) 117 945 3470

 

Jasper Berry (Institutional Sales)

+44 (0) 20 7220 1666

 

 

 


This information is provided by RNS

The company news service from the London Stock Exchange

 

END

 

 

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