Lightstep goes global with two major deals
A Northern Ireland start-up company is to begin production of its lifesaving evacuation technology after securing its first major deals.
Dunmurry-based Lightstep Technologies has signed two multi-million pound distribution deals for the Middle East and India.
The lucrative contracts are for the distribution of the company's Lightstep range, which includes Path Finder, Door Finder, Exit Finder, Hall Finder and Stair Finder. The products are used in the evacuation of buildings and also monitor against fires, explosions and other dangers.
Dubai-based Leisure Secure LLC has agreed a deal for import and distribution, as well as installation and maintenance for the whole of the United Emirates.
Will Corry, international vice-president of Lightstep Technologies said: "We are working together with Leisure Secure on a number of significant contracts in the hotel, oil and gas industry, including a new offshore accommodation platform to service the offshore oil rigs."
The second contract has been signed with India-based Damark International who will be servicing the defence and homeland security sectors.
Lightstep Technologies is also on the verge of closing a deal for import, distribution, installation and maintenance in Great Britain.
Mr Corry said: "The signing of these national distribution agreements is of major significance in the development of the international market for Lightstep Technologies.
"Importantly, each of the companies have been working closely with Lightstep to secure specific project contracts which are expected to come to fruition in the next quarter.
"All of the companies have a significant presence in their respective markets."
Such has been the success of the firm's ability to raise capital that shareholding in the company is now fully subscribed, with further investors eagerly waiting in the wings.
The sophisticated technology works via a series of interconnected, but standalone, self-intelligent sensors located throughout a building, facilities above or below ground, and sea-based.
The first installation is due to take place in Dubai early in the New Year. It is the first of a potential three contracts with a leading hotel group in the Middle East. Kieran Patterson, CEO of Lightstep Technologies said: "The hotel industry is one of the most important markets for Lightstep's lifesaving product line.
"The opportunity to install our products into a leading hotel group at an early stage has been a top priority and will give instant credibility."
Next week Lightstep will be showcasing its product range, which is manufactured in China, at a major exhibition.
Will Corry will be one of the keynote speakers at the Annual Conference on Global Preparedness in Florida.
Mr Corry added: "We are also in negotiations with one of the largest cruise ship operators and a number of navies. Lightstep will be the first company to show the specific application of intelligent evacuation at the Cruise Shipping Miami show in March 2010."