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GOTHENBURG, SWEDEN and SAN FRANCISCO, CA--(Marketwired - Mar 21, 2016) - Heliospectra AB (publ) (
Canada's Island Garden is a private medical marijuana facility on Prince Edward Island. Edwin Jewell, owner, has designed a cutting edge facility where he plans to use state of the art growing methods, which includes the use of Heliospectra's LX60 Series intelligent LED grow lights.
"Initially we thought we'd use HPS lights, but quickly realized that made no sense financially. We switched to LED technology to lower our operating costs and manage heat. Canna-specific features like far-red light made the Heliospectra product attractive to me," said Edwin Jewell, owner, Canada's Island Garden.
According to MarketandMarket's LED Grow Light Market - Forecast to 2020report, the LED grow light sector in Canada is expected to have an annual growth rate of 23.74 %, reaching $185.85 million USD by 2020. Medicinal use of cannabis is legal in Canada. In November 2015, newly elected Prime Minister Justin Trudeau announced that possession of cannabis for adult use would be legalized, and a full legalization program is currently under development.
"Canada is one of our most important markets for controlled environments horticulture. With our Canadian patent approved in May last year, steady growth in the LED grow lights market, and top-of-the-line customers like Canada's Island Garden, we see a bright future for Heliospectra in this market," said Heliospectra CEO Staffan Hillberg.
About Heliospectra AB
Heliospectra AB (publ) (
Heliospectra products are based on in-depth knowledge in plant physiology and photosynthesis along with a unique way to utilize modern LED technology. After six years of development in Sweden, the company has now begun to expand into the international market. The company has raised more than $ 21 million in capital and has received more than $2.6 million through academic scholarships and grants. It has also received numerous awards for its forward thinking technology. Principal owners: Weland Steel www.welandstal.se, Swedish Industrial Fund www.industrifonden.se, Midroc www.midroc.se, Avanza Pension www.avanza.se.
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
CEO of Heliospectra
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Viridian Capital Advisors, LLC