FARMERS BRANCH, TX--(Marketwired - Jul 26, 2017) - On July 12, 2017, Light Engine Design Corp (OTC PINK: TLED) announced the signing of a multiyear OEM product design, development and manufacturing contract with Rosco Laboratories of Stamford, CT, a highly-respected, 107-year-old leader in the entertainment and architectural production and lighting industries, with design and manufacturing to be fulfilled by wholly-owned TLED subsidiary, Dallas Lighting & Photonics (DLP). The contract is predicated on a wide-ranging 5-year product roadmap identifying multiple solid-state lighting (SSL) product families, with a number of product variants per family. These include a multitude of size and output classes; static white, variable color-temperature white and full color-mixing variants; and instruments rated for both indoor and outdoor use. Products range from basic architectural units to cutting edge professional instruments for the cinema and television production markets, with TLED providing new proprietary and patent-pending technologies to the brand. The contract has provisions for two 2-year extensions, for a possible 9+ year OEM contract run. Rosco retains exclusivity within the company's core markets in exchange for Minimum Order Quantities (MOQ), which in turn provide TLED with substantial and quantifiable ongoing sales, with individual products, once cleared for production, typically generating at least $1M+ annually each at MOQ.
"We are truly fortunate to have this opportunity to work with a company of Rosco's prestige, integrity and global recognition," stated DLP Founder and TLED President Kevin Stone. "Favorable contract elements including generous MOQs and payment terms predict an ongoing strong and mutually beneficial working relationship between our companies developing and marketing high-end, high-value lighting products. We eagerly anticipate bringing the initial products, already well into development, to market while providing strong and sustainable profitability for our shareholders."
Current projections predict delivery of initial product offerings near the end of Q4, 2017.
About the Company: Light Engine Design Corp and its wholly-owned subsidiaries, Dallas Lighting & Photonics and Tall Trees LED Company, is focused on becoming an industry pioneer in the research, development, manufacturing, and sales of state-of-the-art Solid-State Lighting (SSL). The Company is specializing in the design of advanced light engines and fixtures employing innovative, unique light emitting diode (LED) and laser phosphor technologies for use in the entertainment, architectural/entertainment (architainment) and frequency-specific biological lighting industries.
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