Extension of TasNetworks Contract Traffic Technologies Ltd

ASX Announcement 22 July 2021 $3.0m Extension of TasNetworks Contract Traffic Technologies Ltd (ASX: TTI) (‘Traffic Technologies’ or the ‘Company’) is pleased to announce that its contract to supply LED street lights to TasNetworks has been extended from 1 October 2021 for a further 12 months until October 2022. Estimated to be worth over $3 million for the period the contract has been renewed on the same terms as initially entered into in October 2018. Tasmanian Networks Pty Limited, trading as TasNetworks, is a Tasmanian Government State owned company that is responsible for electricity transmission and distribution along with the operation and maintenance of over 50,000 street lights throughout Tasmania. This extension presents further opportunity for the Company to partner with Tas Networks to assist with its replacement program and facilitate the reduction of CO2 gas emissions while significantly reducing annual power and maintenance costs. To date the Company has supplied approximately 20,000 LED street lights to TasNetworks. The products to be supplied under the contract are LED street light fittings using the latest LED technology with lower wattages to generate additional power savings. The Company has been the first manufacturer to supply major category LED street lights to TasNetworks and has worked closely with TasNetworks’ engineers to design suitable light fixtures for the Tasmanian environment. Traffic Technologies’ Managing Director, Con Liosatos, said: “The contract extension with TasNetworks is exciting and significant as it provides further opportunity for the Company not only to manufacture and supply its highly efficient “P” and “V” category street lights but also the opportunity for the deployment of its Smart City Platform “TST” into the state of Tasmania.” Con Liosatos, Managing Director. Enquiries:
Mr. Con Liosatos (Managing Director)
T: +61 3 9430 0222
E: [email protected]

Marion Jones

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