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ProPhotonix upbeat on LED growth

Published: 15:21 17 Mar 2016 GMT

QuantumDots
The group’s patented LED technology reduces maintenance, uses less energy and is more environmentally friendly

ProPhotonix (LON:PPIX) estimates that demand for UV LED systems will grow nearly 40% a year.

The high tech lighting manufacturer forecast the market would grow to US$500mln by 2019.

Today the group extended its existing range with a high power UV curing system, the COBRA Cure FX2.

The new model provides more intense UV curing critical to the printing and coating industry.

It harnesses the group’s patented LED technology, which reduces maintenance, uses less energy and is more environmentally friendly.

“We are uniquely positioned to significantly participate in this high growth market and deliver ongoing enhancements to our customers," said chief executive Tim Losik.

Earlier this week shares rose 35% after a promising annual report.

Shares were down 5.5% today to 2.12p.

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