- Traffic Technologies has been awarded a contract to supply its Smart City LED streetlights in New South Wales
- This $1 million contract comes after the success of stage 1, which saw 1600 Smart City LED lights be supplied to DM Roads
- The Smart City platform enables councils, road and power authorities to integrate street lights to a central control system
- When compared to traditional bulbs, LED lights use less power per wattage output and reduces carbon dioxide emissions
- Traffic’s share price is steady, trading for 1.8 cents apiece
Traffic Technologies has been awarded a further contract to supply its Smart City LED streetlights in New South Wales.
Following the success of stage 1, which included the recent supply of 1600 Smart City LED streetlights to DM Roads, this new contract is to supply stage 2 of a street lighting upgrade for $1 million.
This contract follows on from Traffic Technologies’ success in supplying a similar system to Downer for Vic Roads in Victoria as well as it receiving approval for the lights in Tasmania late last month.
The opportunity also exists for ongoing support and annuity-based revenue for the sensors which form part of the Smart City platform.
“TTI’s LED streetlights and Smart City applications provide an exciting pathway for growth and revenue expansion via innovative products and solutions,” Managing Director Con Liosatos said.
“We view this contract as evidence of the continued uptake of our Smart City platform in Australia, and further confirmation of our position as a leader in the smart traffic solution industry,” he added.
Traffic Technologies’ Smart City platform enables councils, road and power authorities to integrate street lights and other traffic management equipment to a central control/management system.
This is done via remote “Internet of Things” sensors which enables these entities to fully utilise and maintain critical assets in real time.
When compared to traditional street lights, Traffic’s Smart City LED fittings provide enhanced energy saving capabilities and are compatible with its Traffic SmartCity Technology platform.
There are currently around 2.3 million street lights in Australia of which 18 per cent have switched to LED technology.
According to IPWEA, the Government’s energy rating body, street lighting is the single largest source of carbon emissions from local governments – typically accounting to between 30 – 60 per cent of their total emissions.
Compared to traditional bulbs, LED lights use less power per wattage output which translates to less energy consumption and a reduction in carbon dioxide emissions.
Traffic’s share price is steady this morning trading for 1.8 cents apiece in a $8.68 million market cap.