Acuity Brands, Inc. (AYI - Free Report) teams up with CIRCADIAN ZircLight, Inc. to enhance the commercialization of the circadian lighting technology.
Over the past five years, CIRCADIAN ZircLight has developed various lighting solutions to address the need for circadian lighting. Through this partnership, CIRCADIAN ZircLight intends to accelerate the commercialization of the Zirc branded technology through Acuity Brands’ portfolio of indoor luminaires, across North America.
Need of Circadian Lighting
Circadian lighting supports the human circadian rhythm. Human body responds to the key circadian signal in natural light. Importantly, researchers reported that not having enough daytime exposure to blue-rich light may impact one’s alertness and productivity.
Notably, the Zirc LED technology provides lighting control solutions that are more in tune with the key circadian signal of natural light, unlike traditional lighting system.
Acuity Brands has a portfolio of innovative lighting solutions. The company remains focused on expanding these solutions in other channels. Importantly, the partnership — which also includes licensing of CIRCADIAN ZircLight intellectual property — will allow it to diversify its existing portfolio.
Innovation to Boost Profitability
Acuity Brands boasts a diversified portfolio of innovative lighting control solutions and energy-efficient luminaries. Also, it has been working on smart business strategies to achieve continued growth.
In fiscal 2019, the company introduced almost 100 new product families to its industry-leading portfolio. This enabled the company to gain market share in product categories and sales channels.
It is confident about the lighting and related industry, as well as building automation systems that have the potential to experience solid growth over the next decade.
The company — which shares space with Orion Energy Systems, Inc. (OESX - Free Report) , Energy Focus, Inc. (EFOI - Free Report) and LSI Industries Inc. (LYTS - Free Report) in the Zacks Building Products - Lighting industry — remains cautiously optimistic for fiscal 2020, thanks to U.S.-China trade tensions and tariffs. Shares of Acuity Brands, which currently carries a Zacks Rank #3 (Hold), have underperformed its industry year to date. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nonetheless, the company’s leading market position along with diversified portfolio of innovative lighting control solutions and energy-efficient luminaries are expected to drive growth.
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