PRESS RELEASE
Vivid Technology Limited (ASX: VIV) is pleased to announce the signing of an MOU with Honeywell Building Solutions Australia Limited (“Honeywell”, the Australian arm of Honeywell International Inc (NYSE: HON)), to supply smart lighting technologies on a number of strategic projects.
This comes after the successful completion of Northern New South Wales Health and RMIT projects where Vivid Technology supplied integrated solutions with the Honeywell team.
Honeywell is a world leader in the fast-growing “Internet of Things” (IoT) market, seamlessly blending physical products with software to support connected systems that improve homes, buildings, factories, utilities, vehicles and aircraft.
Globally, Honeywell operates across 1,250 sites in 70 countries with approximately 53% of its 2015 sales generated outside the US.
In Australia, Honeywell employs over 1,200 people in its 27 offices across the country, and maintains a presence in each state and territory. The company operates total asset and facility management operations across a range of market segments including Commercial, Health, Justice, Defence and Hospitality.
Under the MoU, Honeywell Australia and Vivid Technology will leverage each other’s product roadmaps, technology enhancements, marketing plans and other relevant information to gain a strategic advantage in the marketplace.
The partnership will provide Vivid Technology with a significant new sales channel, by allowing Honeywell to offer market-leading energy-efficient lighting systems with intelligent controls, such as Vivid Technology’s intelligent lighting systems.
Honeywell will integrate this commercially attractive lighting platform with its own solutions to provide its customers across a range of market segments and industries with complete “connected building” solutions.
The MoU with Honeywell strengthens Vivid Technology’s position in the rapidly-expanding commercial and industrial smart lighting market, further fuelling an already robust pipeline across Australia, Asia and internationally that includes new installation opportunities in industry verticals such as retail, beverage manufacturing and higher education.
Management Commentary
Vivid Technology’s Managing Director Samuel Marks said the relationship reflected significant confidence in Vivid Technology’s emerging status as a significant player in the lucrative industrial smart lighting market, at a time when organisations of all sizes across Australia are looking at ways of reducing their energy costs.
“The MoU reflects the significant confidence Honeywell, a global leader in the connected systems and IoT industry, has in our smart lighting products and corporate strategy. It is again excellent validation of our smart lighting technology.
“Vivid Technology’s innovative lighting solutions, overlayed across Honeywell’s extensive global market presence, provides a significant opportunity to dramatically grow our operations both in Australia and overseas.
“The relationship will allow us to offer large national and international enterprises our unique commercial lighting systems as part of a fully-integrated smart building solution powered by Honeywell, a product combination that we believe is uniquely compelling for customers in the marketplace.
“This agreement is particularly timely for Vivid Technology in Australia. The cost of power is seen as a major impediment to economic growth. Our technology is helping companies in Australia to reduce a significant growth impost.”
