For Japan, nuclear power shortage has driven up demand for LED lamps after the March 11 earthquake, inspiring the estimation that LED lamps will account for 38% of Japan’s total light fittings this year.
In mainland China, public work projects generate demands for a total of 1.22 million LED streetlights this year alone.
As for Taiwan, electricity and gasoline rate hikes have brought in new opportunities for LED lamps. And Taiwan government is replacing 326,000 conventional streetlights islandwide with LED ones.
Onteco Corporation has signed its first international license agreement with JARLYN S.A, a Uruguayan corporation, for its proprietary LED intellectual property ("IP"), developed by its subsidiary, NexPhase Lighting, Inc., dedicated in LED "intelligent" lighting development.
As compensation for the license, the Company is to receive a combination of $2.9 million dollars in common stock listed on the Frankfurt Stock Exchange plus a cash payment, in addition to an ongoing royalty on gross revenues from the sales and installations of lighting products using the Company's IP.
In mainland China, public work projects generate demands for a total of 1.22 million LED streetlights this year alone.
As for Taiwan, electricity and gasoline rate hikes have brought in new opportunities for LED lamps. And Taiwan government is replacing 326,000 conventional streetlights islandwide with LED ones.
Onteco Corporation has signed its first international license agreement with JARLYN S.A, a Uruguayan corporation, for its proprietary LED intellectual property ("IP"), developed by its subsidiary, NexPhase Lighting, Inc., dedicated in LED "intelligent" lighting development.
As compensation for the license, the Company is to receive a combination of $2.9 million dollars in common stock listed on the Frankfurt Stock Exchange plus a cash payment, in addition to an ongoing royalty on gross revenues from the sales and installations of lighting products using the Company's IP.
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