LIGHT ENGINE DESIG (OTCMKTS:TLED)
Shares of LIGHT ENGINE DESIG (OTCMKTS:TLED) gained 55%, days after the company announced the spinoff of its wholly owned subsidiary, Dallas Lighting & Photonics (DLP). The spin-off will allow the company to focus on its photobiological lighting efforts for foods, herbs, algae, and legal cannabis.
This morning, LIGHT ENGINE DESIG (OTCMKTS:TLED) announced that Dr. Zacariah Hildenbrand will be assuming a larger, more influential role in the company by joining TLED’s Board of Directors. Dr. Hildenbrand will direct the establishment and operation of laboratory research facilities that will investigate the expression of valuable terpenes in cannabis through manipulation of lighting spectrum and nutrient delivery. “We are incredibly excited and honored that Dr. Hildenbrand has accepted our offer to perform on our Board of Directors. I believe his involvement will greatly accelerate our efforts to provide the most efficient, beneficial lighting for food, herbs and algae, and particularly for legal cannabis, where we anticipate increased yields and superior quality,” said Tall Trees’ CEO, Robert Manes.
Dallas Lightning Spin-Off
Completion of the spinoff will result in Dallas Lighting & Photonics reverting to a private company with 16.25 million of its shares being surrendered to LIGHT ENGINE DESIG (OTCMKTS:TLED)’s treasury. DLP founder, Kevin Stone, is also step down from TLED board and from his position as CTO.
The divestiture will allow Light Engine Design Corp and its wholly owned subsidiary, Trees LED Company, to focus on research, development, and manufacturing of state of the art Solid-State Lighting systems.
Monday’s rally capped yet another impressive run as TLED continues to edge higher after coming under pressure in recent months. The stock is up by more than 60% compared to January trading levels. However, it is still down after dropping from its August highs of $0.20.
Spectrum Design Breakthrough
Separately, LIGHT ENGINE DESIG (OTCMKTS:TLED) wholly owned subsidiary Tall Trees LED Company has achieved a breakthrough in spectrum design. The new design has the potential to increase crop yields and product quality in the indoor cultivation of legal cannabis and other food products.
The new spectrum design marks an important milestone given the growing demand for high-quality food, from environmentally sustainable practices. Controlled environment agriculture technologies including greenhouse and hydroponics are in high demand as alternative sources of crop production.
“In an effort to serve an exponentially growing marketplace, we have diligently strategized to bring to market one of the most advanced indoor growth lighting systems available, thus bringing heightened efficiency and improved profitability to the legally growing cannabis industry, a market experiencing robust growth,” said Robert Manes, Tall Trees’ Chief Executive Officer.
The unveiling of the new spectrum design comes at a time when the LED lighting sector is experiencing immense growth, especially in the cannabis sector. Legal cannabis sales are poised to grow to highs of $8.2 billion next year thanks to increased cultivation using LED systems.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
Don’t miss out! Stay informed on $TLED and receive breaking news on other hot stocks by signing up for our free newsletter!