Heliospectra AB Awarded SEK 500,000 Grant from Swedish Energy Agency

Heliospectra AB (OTCQB:HLSPY) (FIRSTNORTH:HELIO) has received a grant from the Swedish Energy Agency valued at SEK 500,000.
According to the press release:

Through August 31st, 2016, Heliospectra will analyze and improve the possibilities for engaging in energy-efficient, water-conserving growing in the Middle East.
“This venture represents a strategically important development project for Heliospectra. It is also of utmost significance for the region as a whole, where water is in short supply and is expected to be an even scarcer commodity in the future. The need to identify energy-efficient and, perhaps even more importantly, water-conserving means of growing plants in the Middle East is enormous in places such as the Middle East,” says Staffan Hillberg, CEO of Heliospectra.
For example, a minimal amount of Qatar’s food consumption comes from crops grown in the country, with almost all foods being imported. This system is not sustainable in the long term. While a limited growth regime is possible in a greenhouse environment, temperatures during the summer months can reach over 45 degrees Celsius, making crop growth all but impossible. In certain areas in Africa and California, water will be at even more of a premium than it is today.
“Projects like the Middle East project at hand, which aim to advance the efficiency of plant growth, are going to be increasingly necessary. These are projects where we at Heliospectra, with our products and expertise, can play a major role,” according to Staffan Hillberg.

 
Click here to read the full press release.