ASX listed smart lighting company Vivid Technology (ASX VIV, formerly Greenearth Energy) is to supply its LED lighting technology to Honeywell Building Solutions Australia for use on a number of Honeywell projects in Australia.
Vivid says it has signed a memorandum of understanding with Honeywell as a result of successfully completing joint projects with Honeywell for Northern NSW Health and RMIT University in Melbourne.
Under the MoU, Vivid says that it and Honeywell Australia will leverage each other’s product roadmaps, technology enhancements, marketing plans and other relevant information to gain a strategic advantage in the marketplace.
“The partnership will provide Vivid Technology with a significant new sales channel, by allowing Honeywell to offer market-leading energy-efficient lighting systems with intelligent controls, such as Vivid Technology’s intelligent lighting systems,” Vivid said.
“Honeywell will integrate this commercially attractive lighting platform with its own solutions to provide its customers across a range of market segments and industries with complete “connected building” solutions.”
Vivid joins ranks of ‘Businesses of Tomorrow’
Vivid’s wholly-owned subsidiary, Vivid Industrial, made it into list of 200 Westpac Businesses of Tomorrow 2017, announced in April. According to the citation, Vivid Industrial’s innovative lighting platform can generate savings of above 85 percent compared to current comparable systems.
The citation read: “It is a uniquely Australian designed, locally manufactured, modular, plug-n-play technology, with inbuilt intelligence utilising data and algorithm control to continuously adjust a number of attached sensors and allow for predictive maintenance, optimising maintenance costs and extending product reliability. It is accompanied by the company’s unique disruptive commercialisation model, ‘share and save’, which essentially sells lights as a service.”
In the same month Coca Cola Amatil named Vivid Industrial as a preferred supplier. Vivid said it would be providing its “unique ‘plug-and-play’ Matrixx intelligent LED lighting system to deliver savings often in excess of 85 percent in lighting energy cost and equal reductions in CO2 emissions, to Amatil warehouses and production facilities.”
Vivid said the MoU with Honeywell would strengthen its position in the rapidly-expanding commercial and industrial smart lighting market and would “further fuel an already robust pipeline across Australia, Asia and internationally that includes new installation opportunities in industry verticals such as retail, beverage manufacturing and higher education.”
Vivid Technology’s managing director Samuel Marks said the relationship would allow the company to offer large national and international enterprises its commercial lighting systems as part of a fully-integrated smart building solution powered by Honeywell.
$5m capital raising
Early in June Vivid announced plans to raise $5m of new equity: $3.1 million from sophisticated and professional investors and a further $1.9 million through a rights issue to shareholders.