300K Pty Ltd has recommenced production of its award-winning NuVo range of smart LED lighting solutions and patented Connex connector. The production of 200 lights has been deployed as follows:
- 40 luminaires and Connex have been shipped and received by Somerset South Africa, 300K Pty Ltd’s Africa Distributor. These units are in the process of being transported to Rwanda and Namibia for installation in two local council areas as part of the initial trial program in Southern Africa. The Rwanda (potential 17,500 lights) and Namibia (potential 6,000 lights) trials represent the proof of concept in what is a potential deployment of 730,000 lights through Somerset’s African council network. Somerset has indicated that a mining company is due to put in an order of 120 lights in the near future. The project value across the region is circa $320M of which 300K Pty Ltd is positioning itself to access a portion of that market
- 160 luminaires are now available for sale through Australian distribution channels, focusing on the mining services sector in WA. A distribution agreement is in its final stages of approval with a large, well-respected engineering and fabrication services business supporting the mining and infrastructure sectors. These lights will be made available to their mining services and production projects in the Pilbara and Kimberley regions. The market value of the lights and Connex in stock is in excess of $150k.
- Additional discussions are also advanced with a major national lighting distributor with a prequalification process underway. Discussions are also underway with a second EPC specialising in electrical works in the mining sphere. Separately an LED lighting distributor has agreed to provide warehousing and possibly assembly services to 300K Pty Ltd.
Palmerston Council Tender
300K Pty Ltd has tendered for the provision of 6,000 lights to the Palmerston Council in Darwin. It is expected feedback on the tender process will be received by 31 March 2019.
Further Production on a larger scale
Ongoing discussions are underway with an inventory financing company to provide funding to manufacture the volume of lights required upon successful completion of the various trials currently underway, and current business development activities.
Finalisation of the DOCA is required before the financing structure can be put in place.