Traffic Technologies Limited (ASX:TTI) has achieved its first sales of LED road lights in Victoria, placing it in a prime position to capture a share of the $800 million market opportunity in Australia.
The first order for 1,500 freeway Category V LED road lights are currently being installed along the
Monash and Calder Freeways.
These offer VicRoads reduced maintenance costs, lower greenhouse emissions and energy savings of up to 30%.
It was the first company in Australia to achieve type approval for its Category V LED lights with approvals secured in Victoria, South Australia and the Northern Territory.
Traffic Technologies is also in the final stages of obtaining approvals for its P LED road light which is to be used on minor roads, parks and gardens.
These could significantly increase sales as P category lights represent over 60% of road lights in Australia.
It had revenue of $46.2 million in FY2015, up from $40.1 million in the previous financial year.
