Traffic Technologies Ltd (TTI) has announced the securing of major new lighting supply contracts following the success of the Monash and Calder Freeway LED road lighting upgrades in Victoria, Australia.
The company inked supply contracts with three Energy Distribution Businesses for the supply of “V” LEDs over a three-year period, as well as a supply contract with Powercor Network Services for “V” LEDs and “P” LEDs along with conventional street lights for an initial two years, with an option to extend for a further year.
Managing Director Con Liosatos said both the “P” and “V” LEDs have been approved by relevant Australian authorities, reflecting the company’s national leadership in LED lighting technology and applications.
According to him, the contracts are estimated to be worth approximately $7 million per year.
“This new technology demonstrates TTI’s commitment to bringing the market solutions that deliver real cost reductions and responsible environment outcome for customers,” he concluded.
Australia currently has approximately 2.28 million street lights making the potential market for the supply of LED lighting nationally around $800 million.