Work starts for NZ, US bulb sales
Energy-efficient light bulb manufacturer Energy Mad has started manufacturing its first LED lights for sale in New Zealand and the United States.
The LEDs (light emitting diodes) are being manufactured by Energy Mad's Chinese suppliers and meet strict performance criteria, the Christchurch-based company said. The lights will be delivered to New Zealand and the United States next month.
About 2500 LEDs are for the New Jersey Clean Energy Programme in the US that provides funding to sell these LEDs at heavily discounted prices directly to customers at various public events.
So far there has been a slow uptake of LEDs in the US because they have typically been more expensive.
The company said a recent report showed less than 1 per cent of the 5.45 billion incandescent, reflector and decorative light bulbs installed have been LEDs.
However, now a number of US electricity utilities have introduced subsidies of up to US$15 per LED light which heavily discounts the cost of the lights.
Energy Mad said that would give it an opportunity to take advantage of the retailer and electricity utility relationships it has developed through its light bulb programmes in the US.
The stock was yesterday afternoon trading 3 cents higher at 31 cents a share.
- © Fairfax NZ News