Light Engine Design Corp. Wholly-Owned Subsidiary Tall Trees LED Company Closes $4M Sale
FRISCO, Texas, March 12, 2020 /PRNewswire/ -- Light Engine Design Corp. (TLED) wholly-owned subsidiary, Tall Trees LED Company ("Tall Trees") sells over $4M in horticultural lighting to equipment leasing company, Forty Five Solutions LLC. The lighting equipment has been leased to service an industry-leading cannabis cultivation facility in Oklahoma.
The project in Oklahoma is designed to be a premier showcase facility for cultivators wishing to execute similar cultivation operations in the state. The site complies with all Oklahoma regulatory agencies and features the latest in state-of-the-art equipment, supplies and processes specific to Controlled Environment Agriculture (CEA) operations in cannabis.
The tailored lighting configuration is comprised of over 3,200 1025-Watt leading-edge horticultural lighting systems – Tall Trees' new Harvester™ modularized systems. The lighting sets the potential to harvest upwards of 20,000 pounds of ultra-premium medicinal-grade cannabis per year. The Harvester™ product utilizes Tall Trees' proprietary custom phosphor, which has been developed with over 13 years of experience in the CEA industry. The Harvester™ also delivers a true full spectrum of light that has been optimized for maximum photobiological efficiency and has garnered several awards in the cannabis sector over the years.
"The equipment designed and manufactured by Tall Trees LED Company presents a solid investment opportunity for us and a superior lighting solution for our customers," said Mike Martini, Managing Member of Forty Five Solutions, LLC. "We look forward to a long and prosperous relationship with Tall Trees."
Paul Williams, Chairman & CFO of Light Engine Design Corp. explained: "This is the first major sale of this particular new product, just released into the market in the last few months." He also explained, "The company is so excited to be working with Mike Martini and Forty Five Solutions, LLC. This is planned to be a showcase of a facility that should make Oklahoma proud."
About the Company: Light Engine Design Corp.'s wholly-owned subsidiary, Tall Trees LED Company is focused on research, development, manufacturing, and sales of state-of-the-art Solid-State Lighting (SSL) in the Controlled Environment Agriculture industries.
Forward Looking Statements: This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from the current expectations. No forward-looking statement can be guaranteed. Forward-looking statements in the press release should be evaluated together with the many uncertainties that affect TLED's business and TLED undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE Light Engine Design Corp.
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