Traffic Technologies Ltd. announced that the company has received a significant additional order for $2.2 million for the supply of over 10,000next generation LED street lights from Ausgrid. This will form part of the major upgrade to street lights in NSW being completed by Ausgrid in partnership with Southern Sydney Regional Organisation of Councils (SSROC) Inc. and up to 33 local councils. Ausgrid is the largest distributor of electricity on Australia's east coast.

It owns, maintains and operates the electrical networks supplying 1.8 million customers in Sydney, the Central Coast and the Hunter regions of New South Wales. As part of the smart lighting upgrade program across Australia, Ausgrid announced earlier this year a significant expansion in the number of street lights to be upgraded in NSW and that it now expects to upgrade more than 92,000 street lights over the next three years on main roads and residential streets. Councils can expect average energy savings of 56% annually and total reductions in greenhouse gas emissions of more than 34,000 tCO2-e per year from this latest Ausgrid proposal.

These new lights provide better lighting with smart controls enabling even lower energy consumption, and ports for future Smart City sensors, to help councils to deliver community services. These sensors will deliver better traffic and pedestrian counts, monitor the environment for pollutants and detect high noise levels. Since the Company's initial contract with Ausgrid in August 2020, the Company has received orders from Ausgrid for over 67,000 smart street lights, affirming that the Company's research and development programs in innovation are paramount in achieving the Company's objectives.