Carmanah Technologies Corporation

Published : May 19th, 2015

Carmanah to Develop Landing Lights for Tactical Lighting Systems, Inc.

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Carmanah to Develop Landing Lights for Tactical Lighting Systems, Inc.

VICTORIA, BC / ACCESSWIRE / May 19, 2015 / Carmanah Technologies Corporation (CMH.TO) ("the Company" or "Carmanah") today announced that the US Naval Air Warfare Center Aircraft Division has awarded a USD $24.5 million cost-plus-incentive-fee contract to Tactical Lighting Systems Inc. ("TLS") for the design, development, integration, test, and qualification of a Sustainment Lighting System ("SLS") that will support launch and recovery operations at expeditionary airfields and includes both a vertical takeoff and landing module and a runway module. Carmanah participated in the bidding process with TLS pursuant to a teaming agreement that included Carmanah as a key development sub-contractor. Th first phase of the contract (the "Development Phase") is being initiated immediately under a notice to proceed issued to the Company by TLS. A comprehensive agreement is expected to be executed in due course.

"As a specialist in the design of solar, self-contained signal lighting we are excited to be on the team selected for this challenging project," said John Simmons, CEO. "We look forward to working with Tactical Lighting and the other sub-contractors to successful project completion."

Carmanah's Development Phase work is expected to be completed over the forthcoming 3-years and will generate revenue of approximately USD $4.0 million. The Development Phase work will be completed by Carmanah's development team on a cost-plus-incentive-fee sub-contract. The project is subject to cancellation by the Naval Air Warfare Center, Aircraft Division at any time during the contract term.

About Carmanah Technologies Corporation

Since its founding in 1996, Carmanah has become one of the most trusted names in solar technology, delivering reliable and cost-effective solar powered products and systems for industrial applications worldwide. To date, Carmanah's solutions for marine navigation, airfield ground lighting, aviation obstruction, roadway illumination, parking lot lighting, as well as on and off-grid power generation, have been successfully deployed in over 400,000 installations in 110 countries with proven performance in conditions ranging from desert heat to arctic cold.

About Tactical Lighting Systems Inc.

Tactical Lighting Systems, Inc. designs, develops, and manufactures robust, highly mobile airfield lighting systems for demanding military applications. Tactical Lighting Systems manufactures the US Air Force Emergency Airfield Lighting System (EALS), which has seen extensive field service by the USAF and other international military organizations. Recently, Tactical Lighting Systems completed development of the USAF EALS II, a next-generation expeditionary airfield lighting system

Contact

Carmanah Technologies Corporation:
Evan Brown, (250) 380-0052
Chief Financial Officer/Corporate Secretary
investors@carmanah.com

This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "expects," "plans," "estimates," "intends," "believes," "could," "might," "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Carmanah to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties. For additional information on these risks and uncertainties, see Carmanah's most recently filed Annual Information Form (AIF) and Annual MD&A, which are available on SEDAR at www.sedar.com and on the Company's website at www.carmanah.com. The risk factors identified in Carmanah's AIF and MD&A are not intended to represent a complete list of factors that could affect Carmanah. Accordingly, readers should not place undue reliance on forward-looking statements. Carmanah does not assume any obligation to update the forward-looking information contained in this press release.

SOURCE: Carmanah Technologies Corporation

Read the rest of the article at finance.yahoo.com

Carmanah Technologies Corporation

CODE : CMH.TO
ISIN : CA1431261009
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Carmanah Tech Corp is a producing company based in Canada.

Carmanah Tech Corp is listed in Canada and in Germany. Its market capitalisation is CA$ 181.0 millions as of today (US$ 135.8 millions, € 122.5 millions).

Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.40, and its highest recent level on January 15, 2010 at CA$ 8.70.

Carmanah Tech Corp has 24 630 000 shares outstanding.

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