Eco Investor November 2014

Unlisted Companies

Remotely Monitored Industrial LEDs

A Tasmanian company has developed what it says is the lowest whole-of-life cost industrial LED fitting with advanced LED and several world first features.

The NuVo PI was developed by 300K Enterprises Ltd over a number of years of R&D and with a holistic approach to the light's lifecycle and how to reduce all of the resources consumed such as electricity, human labour and so on. It looked at resource efficiency and not just energy efficiency.

Managing director Chris Trewin said "When we were first looking at entering the lighting market a couple of years ago we knew from personal experience that the initial purchase price is often the cheapest part of ownership, in particular by the time you account for the ongoing energy and maintenance costs.

"We knew that by incorporating energy efficient LED technology and our patented "Connex" base functionality we could offer clients a very safe to use, resource efficient fitting compared to other products currently on the market."

Once installed, the fittings do not need ongoing inspections to ensure performance. In the case of the company's mining clients, the single largest expense is the labour to routinely inspect and repair lighting around a site. The NuVo PI fittings can continually monitor their internal and external environment and their own performance. This enables remote monitoring of LED chip status, array temperature and other factors. Another feature is their ability to detect and provide an alarm when there is contaminate build up on the lens, which can be one of the single biggest lighting issues on a mine site.

As well as mining, the lights suit wide ranging temperature conditions that are not serviced well by other vendors.

300K has won several grants and awards and sells to clients such as BHP, Rio, port authorities, councils, car yards, and the Australian Antarctic Division.

The company has started to raise capital. It is looking to raise $750,000 in equity capital for 30 per cent of the company. The funds will be used for sales and marketing, production equipment, larger component contract manufacturing runs and research and development, said Eugenia Arrarte of Funding Strategies, which is assisting with the capital raising.


 

 

 

 



 





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