Windar Photonics PLC Milestone Contract Win (2196Y)
December 04 2017 - 2:00AM
UK Regulatory
TIDMWPHO
RNS Number : 2196Y
Windar Photonics PLC
04 December 2017
December 4, 2017
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Windar Photonics plc
("Windar" or the "Company")
Milestone Contract Win for 300 WindEye(TM) LiDAR Systems
Windar Photonics plc (AIM:WPHO), the technology group that has
developed a cost-efficient and innovative LiDAR wind sensor for use
on electricity generating wind turbines, is pleased to announce
that, after a period of testing announced earlier this year, it has
received a follow-on order from one of its Chinese partners for 300
WindEye(TM) LiDAR systems for the Chinese market. The first 50
systems are contracted to be delivered in Q4 2017, while the
remaining 250 systems are to be delivered during the first half of
2018. In addition the Directors believe that there is potential for
significant follow on orders during the second half of 2018.
Following initial test installations in China, earlier this
year, the WindEye(TM) LiDAR systems are intended for installation
on existing wind turbine generators in China, where the WindEye(TM)
LiDAR systems will be integrated with the wind turbines' control
systems, allowing the wind turbines to receive measurement data
directly from the WindEye(TM) LiDAR system. The installed
WindEye(TM) LiDAR system enables the wind turbine to yaw according
to the oncoming wind, hence increasing the annually generated power
by 1-4% and enhancing the life span of the wind turbine, as
damaging loads affecting the wind turbine are reduced.
Jørgen Korsgaard Jensen, Chief Executive Officer of the Company,
commented:
"I am very pleased to announce this volume order which we have
received in China. It is a very significant milestone for Windar,
and it is, to our knowledge, the biggest volume order for any LiDAR
sensors in the history of the wind energy industry.
China has always been a key market for Windar, and the volume
order clearly signifies that the efforts to establish Windar as the
leading supplier of LiDAR sensors for the Chinese wind energy
industry are resulting in a considerable increase in the demand for
Windar's products from Chinese customers.
We are looking forward to delivering these WindEye(TM) LiDAR
systems and to further strengthening the ties and cooperation
between the Chinese branch of Windar and our trusted partners in
China, who have been instrumental in securing this significant
order."
For further information:
Windar Photonics Jørgen Korsgaard
plc Jensen, CEO +4524234930
Cantor Fitzgerald
Europe
Nominated Adviser Andrew Craig +44 (0)20
and Broker Richard Salmond 7894 7000
About Windar:
Windar Photonics is a technology group that develops
cost-efficient and innovative Light Detection and Ranging ("LiDAR")
optimisation systems for use on electricity generating wind
turbines. LiDAR wind sensors in general are designed to remotely
measure wind speed and direction.
http://investor.windarphotonics.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
CNTOKNDBKBDBBBK
(END) Dow Jones Newswires
December 04, 2017 02:00 ET (07:00 GMT)
Windar Photonics (LSE:WPHO)
Historical Stock Chart
From Apr 2024 to May 2024
Windar Photonics (LSE:WPHO)
Historical Stock Chart
From May 2023 to May 2024