Vivid Technology Enters Agritech Grow Lighting Market
19th March 2019
Vivid Technology in discussions with global partners across general agribusiness and more specifically the medical cannabis market segments
Working with a global technology partner to jointly develop a patented proprietary horticulture lighting system
Vivid Technology’s world class MATRIXX® technology adapted and patented to substantially reduce agricultural lighting energy costs via intelligent lighting control and Klarity® analytics reporting systems, optimized for Agri / Horticulture market segment
Vivid Technology Limited (ASX: VIV) is pleased to announce it has commenced work with several interested parties to develop high energy efficiency solutions for the horticulture lighting.
Vivid Technology will design, specify and supply an optimized MATRIXX® intelligent lighting control and Klarity® reporting systems, to support the specific requirements for the Controlled Environment Horticulture and Agritech market and the more highly regulated medical cannabis cultivation industry.
Vivid Technology’s patented technology will deliver significant energy efficiency, substantially reducing both lighting operating costs and energy consumption, providing customers with a sustainable strategic competitive advantage.
The overall, food and agribusiness is a USD$5 trillion industry that represents 10 percent of global consumer spending. The total medical cannabis market was worth USD$16 billion in 2018 and is expected to grow to USD$79billion by 2025.
 Market research conducted by Statista, Energias Market Research and Cannabindex
Vivid Technology Platform
The horticulture lighting market is seeing significant change, via retrofitting traditional light sources with LED grow lights. Vivid Technology will leverage the experience and technology developed within its MATRIXX® Lighting Systems to assist with solving one of the major challenges in the industry today being the cost and efficiency levels of lighting of green/glass-houses.
As the Controlled-environment Agriculture market continues to expand, growers will focus on identifying new and viable ways to grow crops in a financially sustainable way over long periods.
Vivid Technology is partnering with local and international groups, who provide reach and significant growth opportunities, to prove its patented technology initially in Australia prior to launching globally.
Medical Cannabis – Commercialisation of Platform
Vivid Technology is currently in advanced discussion with several medical cannabis growers, to provide an adapted horticulture version of its MATRIXX® intelligent lighting control and Klarity® reporting systems for both new and retrofit builds. The medical cannabis market is characterised by strong compliance within significantly controlled environments, requiring lighting technology to operate in the most demanding of agricultural environments. With typically smaller size growing areas and higher costs, the medical cannabis market requires high efficiency for economic returns.
In meeting these exacting requirements, Vivid Technology will have a globally differentiated product which will provide even greater value when applied to the general food production market segment. Vivid Technology is closely working with a global technology partner to jointly develop a patented proprietary horticulture lighting system again focused on Energy Efficiency. The joint development will see both parties utilise a combination of advanced technologies to deliver new solutions to agribusiness customers globally.
INITIAL PROOF OF CONCEPT HAS BEEN SUCCESSFULLY ESTABLISHED
An initial proof of concept has been successfully established with promising initial results and feedback. During the 4th quarter of FY19, Vivid Technology is moving to receive independent scientific validation of the systems’ energy efficiency gains and biomass production capacity, within a fully controlled environment in Victoria. Upon successful completion of these studies, Vivid would look to begin production and installation in 1H 2020, on the back of prospective orders with current partners.
The key requirement for success in delivering leading energy efficiency within this market segment, is the ability to provide a combination of both hardware and software analytics, to systematically extract the required cost efficiencies. Vivid Technology is in a unique position to leverage its expertise and success from its MATRIXX® intelligent lighting control and Klarity® reporting systems to provide the horticulture market customers a scientifically proven and validated system, that delivers tangible and verifiable cost savings.
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