Traffic Technologies Limited’s (ASX:TTI) contract to supply LED streetlights to state-owned Tasmanian Networks Pty Limited (TasNetworks) has been extended for a further 12 months until October 2022.
The contract extension, which is estimated to be worth more than $3 million, is on the same terms as that initially entered into in October 2018.
TasNetworks is a Tasmanian Government-owned company responsible for electricity transmission and distribution along with the operation and maintenance of more than 50,000 streetlights throughout Tasmania.
Extension "exciting"
Traffic Technologies managing director Con Liosatos described the contract extension with TasNetworks as being “exciting and significant”.
He said: “It provides further opportunity for the company not only to manufacture and supply its highly efficient ‘P’ and ‘V’ category streetlights but also the opportunity for the deployment of its Smart City Platform TST into the state of Tasmania.”
Further opportunity
According to the company, the extension presents a further opportunity for it to partner with TasNetworks to assist with its replacement program and facilitate the reduction of CO2 gas emissions while reducing annual power and maintenance costs.
To date, the company has supplied around 20,000 LED streetlights to TasNetworks.
The products
The products to be supplied under the contract are LED streetlight fittings using the latest LED technology with lower wattages to generate additional power savings.
The company has been the first manufacturer to supply major category LED streetlights for TasNetworks and has worked closely with the state-owned company’s engineers to design suitable light fixtures for the Tasmanian environment.