LightLab and Wallenius Water have signed a license and development agreement. LightLab will under the agreement contribute with a UV light source based on its EEE Light technology platform which will be used by Wallenius Water to develop a water purification product. According to the agreement Wallenius Water receives an exclusive license, for a specific application, to develop, manufacture and sell products based on LightLab's technology.

During the coming six months LightLab will allocate a substantial part of its development resources to the project and obtain revenues from Wallenius Water for financing the associated development costs. Provided that the development project is completed according to the agreed plan this revenue component is estimated to exceed SEK 5 million during the coming six months. Assuming a successful product launch the agreement also regulates future sales revenue per sold unit.

As the product will be sold through Wallenius Water's channels, the Company cannot make any estimates on the extent of such sales.