June 22, 2024
5 Things to Know: June 22
New details emerge about Signify's presence in its "second homeland." Plus, a lighting agent was just aquired.
Here's a roundup of some of the week's happenings curated to help lighting people stay informed.
1. Signify Expands Production in China
At Signify's production base in Jiangxi, China, workers and automated guided vehicles produce and transport light bulbs efficiently, reports China Daily. Over the past month, the facility in Ruichang has sold more than 10 containers daily, each containing 40,000 to 600,000 bulbs, according to employee Ji Yilan. These products are shipped to over 10 countries, including the U.S., Poland, Japan, and Malaysia.
Netherlands-based Signify has nine manufacturing factories and a major R&D center in China. Signify has been deeply involved in the Chinese market for many years, considering China its "second homeland" as stated by CEO Eric Rondolat. This long-standing presence has enabled the company to build strong relationships with local governments, suppliers, and customers.
China Daily reports that the Ruichang factory, with a 2.8 billion yuan (about $394 million USD) investment, spans 200,000 square meters (2.15 million square feet) and houses 213 production lines, 70% of which are automated. In Q1 2024, the base's output value reached 300 million yuan (about $42 million USD), with an annual output expected to exceed 5 billion yuan (about $703 million USD) by 2025.
2 . Quebec Lighting Agent Acquisition
Quebec-based holding company Ascot Capital, which owns lighting manufacturers Stanpro, LumenTruss, and BeLuce (formerly Beghelli Canada), has announced its acquisition of NRG Management. The acquisition includes the representative agency's 18 employees who cover Montreal, Quebec City, Gatineau, and Ottawa. NRG Management’s line card shows that the agency represents 48 brands, including LSI Industries, Lumenture, and Amico.
NRG will begin representing Stanpro for projects starting August 5, 2024. The current owners, Marc Desparois, Lisette Thibault, and Allain Durette, will continue to operate NRG as an independent company from its St-Eustache, QC location. Ascot Capital plans to invest in and support NRG to enhance its market presence.
3. Orion Regains Nasdaq Compliance
Orion Energy Systems, Inc. has regained compliance with Nasdaq's Listing Rule 5550(a)(2), according to a recent SEC filing. On June 18, 2024, Nasdaq notified the company that its stock had maintained the required minimum bid price of $1.00 per share for ten consecutive business days, from June 3 to June 17. This follows an April 5 notice that Orion had fallen below the $1.00 threshold for over 30 consecutive days.
As Inside Lighting reported in April, due to the stock's prolonged dip below $1.00, the company had been given until October 2, 2024 to rectify the issue or face delisting consequences. The recent compliance marks a positive turnaround for Orion, which has experienced fluctuating stock performance. Orion's management remains focused on revenue growth and cost management to stabilize its market position.
In the most recent quarter, Orion ended its streak of unprofitable quarters while growing annual sales 17%. Orion’s stock price closed Friday at $1.53 per share.
4. UV-C Technology Adoption in Health Care
A recent article entitled "UV-C Technology Now the Standard in Today’s Health Care Facilities" caught our attention because the claim does not seem to resonate among lighting professionals. However, as we learned more, it appears the HVAC industry is increasingly embracing UV-C light disinfection technology in healthcare settings. This sector sees UV-C as a natural fit for improving indoor air quality and reducing pathogen concentrations without increasing antibiotic resistance.
The article in "Air Conditioning Heating Refrigeration News" by Hannah Belloli highlights how UV-C technology is now viewed as essential in air filtration for healthcare facilities. According to experts, UV-C energy can significantly reduce pathogen concentrations, enhancing hospital defenses against infectious diseases. This has become especially pertinent in the wake of COVID-19, which has heightened awareness of airborne disease transmission and the need for robust HVAC solutions.
Are HVAC systems a more strategic application for UV-C technology in reducing airborne pathogens than lighting systems? https://t.co/rSIgZHArNE
— Inside Lighting (@InsLighting) June 22, 2024
5. LRC Offers Photometry Institute in August
The Lighting Research Center (LRC) at Rensselaer Polytechnic Institute (RPI) is offering The Photometry Institute, an immersive two-day course on photometric testing and evaluation. This event, scheduled for August 12-13, 2024, in Troy, NY, will cover the latest developments in testing requirements for solid-state light sources and systems.
Participants, including engineers, technicians, and managers, will learn to understand photometric and colorimetric terms, industry-standard test procedures, and the operation of photometric equipment. The course includes lectures, equipment demonstrations, and hands-on laboratory exercises. Attendees will earn 20 CEUs and receive a certificate in photometry.
Registration costs $1,200 per person and includes seminar materials, breakfast, and lunch.
