10th Jun 2011 07:00
10 June 2011
LED International Holdings Limited
("LED" or the "Company")
Major Energy Management Contract Secured
The board of Directors of LED (the "Board") is pleased to announce that the Company's wholly-owned indirect subsidiary, Shenzhen Strongbase New Opto-Electronics Technology Co. Ltd. ("Strongbase New"), has been awarded a significant energy management contract (the "EMC Contract") from Hotel Novotel Shenzhen Bauhinia and Golden Gala Restaurant based in Shenzhen, China (collectively, the "Hotel"). The projected revenue under the EMC Contract to Strongbase New is approximately RMB5,500,000.00 (approximately £510,000.00).
Under the EMC Contract, Strongbase New will provide lighting and reactance filtering energy-saving solutions to the Hotel. Specifically, Strongbase New will overhaul the Hotel's existing lighting and power consumption systems (which are based on traditional lighting technology and power generation equipment) with new energy-saving LED light bulbs and reactance filtering equipment provided by it. Strongbase New's LED light bulbs and reactance filtering equipment will be installed in all interior, public, car park and outdoor areas, and power facility respectively of the Hotel. Strongbase New will bear all the upfront costs associated with the supply and installation of the LED light bulbs and equipment at the Hotel's premises and then will recoup these costs by sharing in the actual monthly energy savings generated by the Hotel's use of the energy-saving solutions for the next 6 years and the Hotel will pay these to Strongbase New on a monthly basis.
The EMC Contract has been entered into by the Hotel after the successful completion of a ten-month period of testing.
LED's Chairman, Thomas Li, commented, "The EMC Contract represents a major endorsement of the Company's technology from an internationally renowned hotel. LED is very pleased with the award of the contract which we expect will significantly improve the energy efficiency of Novotel's lighting and power systems and provide it with energy savings. We are also extremely pleased that we have been able to structure the EMC Contract in such a way as to generate important recurring revenue for LED's group."
**Ends**
For further information:
LED International Holdings Limited | |
Stephen Chan - Chief Executive Officer | +852 2243 3100 |
Allenby Capital Limited | |
Nick Naylor / Alex Price | +44 (0) 20 3328 5656 |
Notes to Editors:
LED International Holdings Limited and its subsidiaries specialise in the development, manufacture and sale of low powered led screens, outdoor signs, lamps, lighting and building illumination; and high powered / medium powered led energy efficient indoor and outdoor lighting products.
For more information, please visit: http://www.led-intl.com
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