The Heliospectra team’s accomplishments in the last several quarters demonstrate our ability to achieve projected growth metrics while we execute in parallel on strategic objectives. Including major product releases and technical collaborations.
During the first nine months of 2018, our global team delivered sales growth in all markets and deployed new revenue streams with the subscription-based helioCORE™ product. Our Technical Services are meeting with strong early market traction. Customers share with me their appreciation of the crop and lighting expertise we supply when helping them make informed lighting decisions and in ensuring that they achieve optimal results with their Heliospectra systems.
We further accelerated the value-driven innovation for which we are globally recognized by extending our newest product, the SIERA lightbar series, into an integrated vertical farming solution. With this initiative, we are proactively responding to demand generated from urbanization and population growth as well as policies driving economic diversification and resource conservation. We’re pleased that this vertical farming system, the result of our first collaboration with ABB, will achieve outstanding measurable results for our customers. For example, the integrated system reduces water consumption by 98% vs. conventional methods. Additionally, it significantly reduces the capital expenditure associated with historical vertical farming models. Eliminating a previous economic barrier to this resource-efficient farming method.
Together with ABB, we conducted a series of technical and commercial workshops to explore opportunities to develop our technology platform. Our focus is on solving key customer challenges, and power grid limitations are one such example. By partnering with ABB to provide electrification solutions, we can deliver a fully integrated system design and installation to our customers operating in the commercial greenhouse, indoor growing, and vertical farming segments. This exciting development expands the uniqueness of the Heliospectra value proposition in the horticulture industry.
In this milestone quarter, we also welcomed aboard two highly experienced executive team members, Hanna Rüdel and Thorbjörn Leu. Thorbjörn is responsible for growing global sales and top-line revenue; Hanna’s complementary role is focused on shaping an internal organization for Heliospectra Technical Services and strengthening the overall service offering for our global customers. These vital additions to our management team reflect and support our Company’s continued growth.
We achieved record-breaking year-over-year sales growth of 75% and continued to grow our order intake by 35%. As our company develops, we consciously work with and attract larger customers. This requires us to be equipped with suppliers that can deliver higher volumes with greater efficiency. Now in Q4, we are finalizing our transition to a Northern Europe based tier one contract manufacturer, providing highly scalable capacity in Sweden. Naturally a change of this critical nature takes time to execute fully with the high degree of quality to avoid delays and making it seamless to our customers.
A review of our Company’s performance track record demonstrates that we are making carefully considered advancements to stay true to our customer-first values of best-in-class innovation, service and quality. Our proven strategy will deliver ever-greater value and lasting returns to our customers and shareholders. As always, I thank you for your support.
/Ali Ahmadian, CEO