ProPhotonix wins five-year contract with Fortune 50 customer

Whilst the agreement does not require that the customer make any purchases, the AIM-traded LED technology designer and manufacturer said it expected revenue could reach approximately $1.0m per annum.

The custom LED illumination devices will feature a design that incorporates multi-wavelength configurations and automated software to control spectral balance and the automated configuration of hardware deployment.

President and chief executive Tim Losik said: "The agreement is the culmination of nearly four years of work with our customer, ultimately delivering innovative solutions and capability that will provide them with a superior market solution.

"These solutions do more than just provide light - they communicate with the control features of the entire system through our custom software and design features."

ProPhotonix shares were up 20.57% at 2.11p at 1220 BST.