- Traffic Technologies (TTI) secures a $3 million contract to supply LED streetlights in Tasmania
- The new order stems from a contract penned in July with TasNetworks to supply Smart City ready LED streetlights
- The new forward order secures TTI’s position in the Tasmanian street light market beyond the contract term into 2023
- Traffic Technologies has supplied over 26,000 Smart City LED streetlights to TasNetworks to date
- Traffic Technologies is up 3.33 per cent, trading at 3.1 cents
Traffic Technologies (TTI) shares are in the green after securing a $3 million contract to supply LED streetlights in Tasmania.
The forward orders come from TasNetworks, of which 60 per cent are for supply beyond its existing contract.
Tasmanian Networks, which trades as TasNetworks, is a Tasmanian Government State-owned company that is responsible for the operation and maintenance of over 50,000 streetlights throughout Tasmania.
Traffic Technologies announced in July its contract to supply Smart City ready LED streetlights to TasNetworks had been extended to October 2022.
The new forward orders have secured the company’s position in the Tasmanian street light market beyond the contract term into 2023.
Through partnering with TasNetworks, Traffic Technologies will assist with its street light replacement program and facilitate the reduction of carbon dioxide gas emissions, while significantly reducing annual power and maintenance costs.
The products to be supplied under the contract are Smart City V-category LED street light fittings, which use LED technology with lower wattages to generate additional power savings.
“These orders secure the company’s position in Tasmania which has become an important market for our products and provides a significant opportunity for the roll-out of our Smart City Platform ‘TST’ into the state of Tasmania.” Managing Director Con Liosatos said.
Traffic Technologies has supplied over 26,000 Smart City LED streetlights to TasNetworks to date.
Traffic Technologies was up 3.33 per cent, trading at 3.3 cents at 2:54 pm AEDT.