The SOP technical LED lighting will be utilised for new shipbuilding projects and retrofitting in replacement of conventional lighting onboard existing vessels, as well as OEM for a key strategic partner.
See also: BH Global wins FPSO and LED lighting contracts worth $7.6 mil
BH Global says the orders are to be fulfilled progressively in 2H 2021 and are not expected to have a significant impact on its performance in the current financial year.
According to BH Global, the push for sustainability and decarbonization by the International Maritime Organisation (IMO) has seen an uptake in demand for green LED lighting in the maritime industry in recent years.
“With energy saving and reduced maintenance costs, it makes commercial sense for ship owners to retrofit their existing vessels with our SOP LED lights as the [return on investment is only [two-to-three] years,” says Vincent Lim, CEO of BH Global.
Shares of BH Global were last traded at 30 cents on July 19.
