Nature's Miracle has signed an agreement with Traxon Technologies to distribute OSRAM horticulture lighting applications in the U.S. Prior to December 2022, Traxon was the LED lighting division under ams OSRAM.
With this agreement, Nature's Miracle will be the exclusive authorized distributor and seller of OSRAM General Lighting Luminaires for horticulture applications in the U.S. Nature's Miracle expects sales of this new line to begin in the third quarter of 2024.
James Li, Chairman and Chief Executive Officer of Nature's Miracle, commented, "We are thrilled to partner with Traxon as the exclusive distributor of its industry leading Osram branded luminaires in the United States for horticulture lighting applications. Nature's Miracle is well-positioned as a leader in designing and sourcing products for controlled environments in the agriculture industry. The Osram General Lighting Luminaire line will be instrumental to achieve the scale and progress we seek in our objective of supplying innovative products that optimize the operational efficiency of vertical farms."
Mr. Li continued, "The first half of 2024 has been a transitional period for Nature's Miracle as we entered the public markets at a challenging time for emerging growth companies. We are highly encouraged by today's agreement which expands our product offering, our largest revenue source, to further drive top line growth. Looking forward, Nature's Miracle's strategic focus will include sourcing additional distribution agreements, similar to today's announcement with Traxon, while we continue to make progress on the research and development of our MiracleTainer series container farm product and parallel offerings to create a robust portfolio of solutions that meet the needs of our enterprise customer's development of comprehensive vertical farms. With the addition of OSRAM luminaires as a catalyst, we are encouraged with the path forward for Nature's Miracle into the second half of 2024 as we continue to increase our market share of indoor farming."
For more information:
Nature's Miracle
www.nature-miracle.com