Nualight Ltd.

Nualight To Accelerate Recruitment Drive With New Tesco Business in UK and USA

May 20, 2010 - Green technology produced by Irish company Nualight, a leader in LED Lighting for food retail merchandising, is to be implemented across Tesco stores in the UK and USA.

The deal will be worth up to €5 million to Nualight in 2010, growing by up to €10 million by 2013. On the back of the deal, Cork-based Nualight is to create 25 new jobs including graduate export positions to add to the 55 currently employed, with employment likely to grow to 80 in the next two years.

The announcement, which was made in Dublin between Sir Terry Leahy, the Chief Executive of Tesco, Mr Tony Keohane, the CEO of Tesco Ireland and Mr Liam Kelly, the CEO of Nualight, was also welcomed by Mr Batt O'Keeffe TD, Minister for Enterprise, Trade and Innovation.

The Minister said the announcement emphasised how Irish companies could leverage their local relationship with multinationals to get business globally. "The Nualight success story emphasises how Irish companies can move on to the international business stage and become world leaders in their field. Nualight is an example of the Smart and Green economies in action globally and we are very proud of the fact the company is now exporting to 20 countries."

Tesco Ireland, where Nualight is a supplier, has facilitated the Irish lighting company's access into the Tesco global network. Nualight was originally selected in October 2008 by Tesco Ireland to supply its Irish stores in a €1 million deal. The new deal enables Nualight to expand its relationship with Tesco beyond Tesco Ireland where it has already retrofitted 115 stores.

Nualight's LED lighting products have already been installed in many Tesco stores in the UK and will also be installed in over 159 Tesco 'Fresh N Easy' stores in the USA.

Dr Liam Kelly, CEO of Nualight, said: "We're obviously delighted with this latest Tesco expansion. Our proven track record with Tesco Ireland stores gave us the opportunity and the springboard to get into their international divisions. Nualight focuses exclusively on food retail and our Vantium product series is constantly evolving to deliver greener, brighter and more cost-effective solutions demanded by retailers. With retailers looking to invest in sustainability initiatives, this provides us with major opportunities around the world. Also, social and environmental commitments are now a key consideration for consumers when deciding where to shop."

The Nualight technology will allow a number of cost and energy saving benefits. By replacing environmentally unfriendly fluorescent lighting with LED lighting, based on light emitting diodes (LEDs), energy consumption is reduced in the refrigerated glass doors displays by more than 60%.

Sir Terry Leahy, CEO of Tesco said: "As a business we have spent many years actively supporting Irish companies develop their export markets for their products. We are delighted to be part of the Nualight international expansion with these innovative products. Our use of LED lights will help contribute to the achievement of our climate change objectives notably becoming carbon neutral by 2050."

Nualight, based in Cork, is the only company in the world that focuses exclusively on LED Lighting for refrigerated display illumination for global food retail. Dr Liam Kelly founded Nualight in 2004. Its shareholders include Enterprise Ireland, ESB novusmodus, the green investment fund of the State electricity company, 4th Level Ventures, Climate Change Capital Ltd and the Quinn Family.