Strat Aero PLC Selected as Partner by Water Sector Services Co. (7293V)
November 07 2017 - 2:00AM
UK Regulatory
TIDMAERO
RNS Number : 7293V
Strat Aero PLC
07 November 2017
Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support
Services
7 November 2017
Strat Aero plc ("Strat Aero", the "Company" or the "Group")
Selected as Specialist Surveying Partner by Leading UK Water
Sector Services Provider
Strat Aero plc, an international aerospace company focused on
the rapidly emerging Unmanned Aerial Vehicle ('UAV') sector, is
pleased to announce that its 100% owned subsidiary Geocurve has
been selected as a specialist surveying partner by Integrated Water
Services Ltd ('IWS'), a leading services provider to the UK water
sector. As a specialist surveying partner, Geocurve will provide
UAV, bathymetric and conventional surveying services for a number
of Monitoring & Evaluation projects which IWS carries out each
year as part of its 5+5 Framework Contract with Northumbrian Water
worth circa GBP8-10m per year.
Geocurve, a specialist in providing survey and inspection
services using UAVs, as well as using ground- and water-based
survey equipment, is already a direct preferred supplier for
Northumbrian Water's annual maintenance programmes, having
successfully completed multiple surveys over the past year. Being
selected by IWS as a partner will increase Geocurve's involvement
and revenues from these ongoing programmes, and is in line with the
Company's strategy to focus on its key areas of expertise: Survey
and Inspection via Geocurve; and its Training and Education
Division.
Gary Nel, Managing Director of Geocurve, said: "We are excited
to be working in partnership with such a prestigious company as IWS
and I believe we will add value to their already exceptional
expertise. While working with IWS has the potential to generate
revenues in the region of GBP30k-GBP60k per year for Geocurve,
importantly it further cements our standing as a leading provider
of integrated surveying and inspection services, which covers data
capture, analysis and modelling. This has already seen Geocurve win
high-profile contracts such as the Thames Estuary Asset Management
Team2100 Project along with two prestigious awards including the
Environment Agency's Project Excellence Awards for innovation. As
the partnership with IWS demonstrates, the unrivalled combination
of our UAV flight proficiency and our state-of-the-art analytics
techniques, which is a major differentiator compared to our peers,
is generating a growing pipeline of business with major blue-chip
companies and government agencies."
Mr Ian Cutter, Contract Manager for IWS, said: "We are delighted
to be working with Geocurve and look forward to utilising new
technologies in surveying to assist with our projects."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
- ENDS -
For further information please visit www.strat-aero.com or
contact:
Strat Aero plc Tel: +44 (0) 1293 804741
Graham Peck (Chairman)
SP Angel Corporate Finance LLP Tel: +44 (0) 20 3470
0470
Nominated Adviser and Joint
Broker
Stuart Gledhill
Jeff Keating
Caroline Rowe
Beaufort Securities Limited Tel: +44 (0) 20 7382
8300
Joint Broker
Elliot Hance
Cornhill Capital Ltd
Joint Broker
Nick Bealer Tel: +44 (0) 20 7710
9610
St Brides Partners Ltd Tel: +44 (0) 20 7236
1177
Financial PR
Frank Buhagiar
Susie Geliher
Notes
Strat Aero plc is a multi-divisional international aerospace
services company, focused primarily on the provision of complete
client solutions in the Unmanned Aerial System ('UAS' market),
which is predicted to show exponential growth over the coming
decade. Commercial and military applications in UASs are expected
to be a dynamic growth sector in the aerospace industry over the
next 10 years with the UAS market forecast to grow to more than
US$82.1 billion between 2015 and 2025 (AUVSI Economic Report 2013)
and the global airborne Intelligence, Surveillance and
Reconnaissance ('ISR') market estimated to grow to US$19.23 billion
by 2023.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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