OSL Holdings Inc (OTCMKTS:OSLH) reported that it entered into a deal for the private labeling of grow lights of ILED. The agreement also covers a 90 day pilot program and future product development measures. The company will showcase ILED grow light through its subsidiary Go Green Hydroponics.
Last year, ILED introduced its advanced LED grow light series to support its line of commercial LED fixtures for creating illumination. The series includes a modular application that offers cost-effective PPFD with customizable wavelengths to boost indoor crop growth. It is applicable in both flowering and vegetation stages. OSL stated that the light series also comprises numerous options including smart controls, accessories, reflectors, light density and fixture size. The smart controls play an important role in controlling light to stimulate sunset and sunrise.
The grow light series of ILED also provide ADS with photometric evaluation to help commercial growers with ceiling layouts, wavelengths and custom fixture designs to enhance plant yield and mitigate operating cost. The latest series have the potential to minimize operating expenses as there is lower electricity use compared to traditional form of illumination. It also enhances plant growth.
OSL Holdings considers the segment as a growing vertical in the grow market industry and therefore has associated with leading manufacturer for the first pilot stage of the Grow Light Retail Program. It is a significant deal that also covers the potential to excel into the product development and labeling segment. Bob Rothenberg, the CEO said that the deal will permit Go Green to remain at the forefront of the curve in the company’s initiatives to offer market participants with the best applications in the market.
In last trading session, the stock price of OSL declined more than 14% to close the trading session at $0.00970. The decline came at a share volume of 10.45 million compared to average share volume of 46.04 million.