Unique Cooperation Between Qatar and Sweden Provides Gulf States New Swedish Environmental Technology
San Francisco, CA, May 28, 2015 (Newswire.com) - Heliospectra AB (OTCQB: HLSPY, FIRSTNORTH: HELIO), a world leader in intelligent lighting technology for plant research and greenhouse cultivation, is part of a unique agreement between Midroc New Technology and GORD - the Gulf Organisation for Research and Development.
New and revolutionary environmental technology from four Swedish companies will be displayed in a special full-scale facility in Qatar’s capital Doha. This opportunity may lead to a number of Gulf States choosing Swedish technology in a major investment in sustainable development, and is the outcome of an agreement between Midroc New Technology and GORD, the Gulf Organisation for Research and Development for the six Gulf States of the GCC (Gulf Cooperation Council).
”With resources from Qatar and technology from Midroc’s portfolio companies, we will be able to showcase new solutions that are sustainable in the long term for our planet and that are possible already today,” says Göran Linder, CEO of Midroc New Technology.
The full-scale demonstration facility will be placed in Qatar Science & Technology Park and will contain a number of functions, from living quarters and workplaces to greenhouses. The idea is that one will be able to see all these different technologies together in one place, from the late summer of 2015 onwards.
The GORD Research Organisation is responsible for developing sustainable solutions for the whole of the GCC (Qatar, Saudi Arabia, United Arab Emirates, Oman, Kuwait and Bahrain). This means that the innovations that will be presented could in time become the standard for all the member states. In an effort to accelerate the introduction of technologies for world improvement, four of Midroc’s portfolio companies achieve a unique position.
- Heliospectra offers intelligent lighting systems for greenhouse cultivation that can also be used in extreme environments. In comparison with conventional solutions, less energy and water is consumed, there is no wastage, crop yield is increased – and the crops taste better.
- Powercell has developed fuel cell technology which converts diesel and hydrogen into electricity highly efficiently. This allows energy consumption to be reduced by 50 percent while completely eliminating exhaust gases and toxic emissions.
- Air to Air has technology for both heat and moisture exchange, giving the best possible control of indoor climate with the least possible energy consumption.
- Solarwave offers solutions driven by solar energy for water purification and desalination, making it possible to use water that would otherwise be undrinkable. Their compact plants can be as small as a backpack, or big enough to supply thousands of litres per hour.
The two parties to the agreement are:
- Gulf Organisation for Research and Development (GORD), a non-profit governmental organisation whose purpose is to promote environmentally friendly and sustainable solutions in Qatar and the countries included in the GCC, Gulf Cooperation Council.
- Midroc New Technology, a member of the Midroc Europe Group, is a venture capital company that invests in groundbreaking technologies with global relevance in the environmental and renewable energy fields.
About Midroc Europe
Midroc Europe has operations in properties, construction, industry and environmental technology. The operations are international, with Sweden as base. Midroc has 3200 employees and turnover in 2014 was more than SEK 5 billion.
About Heliospectra AB
Heliospectra AB (publ - listed on NASDAQ OMX First North HELIO ISIN SE0005933082 as well as North American ADR OTCQB: HLSPY Cusip: 423281104) (www.heliospectra.com) specializes in intelligent lighting technology for plant research and greenhouse cultivation. 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 $ 15 million in venture 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, Wood & Hill Investment www.whab.se.
Forward-Looking Statements
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.
Contact
Investor Relations:
Michael Swartz
Analyst
Viridian Capital & Research, LLC
212-333-0257
mswartz@viridiancr.com
Staffan Hillberg, CEO
Heliospectra AB
+46-708-36 59 44
staffan.hillberg@heliospectra.com