ProPhotonix Awarded a Three Year Supply Agreement

Date Announced: 24 Aug 2015

Custom LEDs and diode laser modules.

SALEM, NH--(Marketwired - Aug 24, 2015) - ProPhotonix Limited (OTC PINK: STKR) (LSE: PPIX), a designer and manufacturer of LED illumination systems and laser diode modules with operations in Ireland and the United Kingdom, today announces the award of a three year supply agreement, for custom LED illumination devices and diode laser modules, from a leading global manufacturer of optical imaging and sensing equipment.

The custom LED illumination devices feature a unique design incorporating multi-wavelength configurations; innovative optics; and automated software to control spectral balance and the automated configuration of hardware deployment.

After the initial three year term, the supply agreement will renew biennially unless otherwise terminated. Although the supply agreement does not stipulate or require that the customer makes any purchases, the agreement has the anticipated potential to deliver up to $1 million of annual revenue at the expected quantities. Preproduction units have shipped for evaluation and end customer field testing. Production deliveries will begin as early as the fourth quarter of 2015 and continue thereafter.

Commenting on the supply agreement, Tim Losik, President and CEO of ProPhotonix, stated:

"The agreement is the culmination of nearly two years of work with our customer, ultimately delivering an innovative solution and capability that will provide them with a superior market solution. These solutions do more than just provide light -- they communicate with the control features of the entire system through our custom software, and integrate with cameras and sensors. Every engineering discipline at ProPhotonix including optics, electronics, mechanics, materials, software and manufacturing, participated from concept to commercialization. With over 15 years' experience in Custom LED and Laser Module design, ProPhotonix delivers solutions across a wide range of industries including the dental, medical and pharmaceutical industries."

Source: ProPhotonix

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