ECOLIGHT is a manufacturer of energy-saving lighting equipment that not only develops and manufactures energy-saving LED luminaries focused on the industrial segment, but also successfully develops projects for the use of renewable energy sources in lighting systems.
ECOLIGHT exports a large part of its products, and the greatest growth potential is visible in the export markets, therefore the company's managers are looking for solutions to increase the company's awareness in foreign markets and expand sales of its products. For this purpose, at the end of 2019, the company applied for support from the EU Structural Funds under the measure “Expo Certificate LT” No. 03.2.1-LVPA-K-802 and submitted an application for project funding.
2020 March 27 ECOLIGHT and the Lithuanian Business Support Agency have signed an agreement on the implementation of the project ECOLIGHT product certification (No. 03.2.1-LVPA-K-802-03-0011), which provides the company with 41813.97 EUR funding from the European Regional Development Fund. The aim of the project is to increase the company's competitiveness and sales in foreign markets by certifying products.
During the implementation of the project, it is planned to strengthen the position in the export markets by investing in the certification of the company's products. It is planned to certify a whole range of various models of LED luminaries manufactured by the company, a significant part of which were introduced to the market in the current year. The certification of the product will make it possible to offer it to high-profitability sectors (luminaries for explosive atmospheres) and countries with high purchasing power (Saudi Arabia, UAE, Israel), as well as increase export volumes to the company's most important foreign markets, such as Poland and Germany.
During the implementation of the project, the acquisition of certificates will strengthen the competitiveness of the company's products in foreign markets, which will provide an opportunity to ensure the successful further development of the company in the already occupied export markets and penetration into new foreign markets. Thanks to this project, the growing export of the company's products will contribute to the company's development and create conditions for continuous improvement of performance not only during the project, but also after the project implementation.
The estimated duration of the project is 24 months.
The project is funded by the Regional Development Fund.