Contract Win

RNS Number : 5233T

Crimson Tide PLC

25 July 2022

 

This announcement contains Inside Information

25 July 2022

Crimson Tide plc

("Crimson Tide" or "the Company")

Significant Contract win in new sector

Crimson Tide Plc (TIDE), the provider of the mpro5 solution, is pleased to announce a significant new long-term contract win with a national supplier in the utilities sector. The contract has been won following a competitive tender process and an extensive trial by the client in one of its regions.  The client will now roll-out the mpro5 solution to digitise processes across its network, covering the North West, Midlands, Yorkshire, the East of England, and North London. The initial term of the agreement is for three years, with a total value in excess of £1.4m.

mpro5 will be used to ensure data integrity, speed of process and to provide real-time job availability alerts, significantly reducing the total time to complete work whilst capturing evidence required to prove a compliant and safe process. 

mpro5 will now roll out nationally and our team has identified additional ways to improve processes for the client and their subcontractors. The mpro5 API will integrate with SAP and several other sub-contractors' workflow APIs, streamlining data flow between organisations.

Barrie Whipp, Chairman, commented: "This is a significant contract win for the Company, representing one of the largest initial contract wins in our history and providing valuable underpinning to our plans over the next few years. It is the result of many months of work by our team, and the contract was won following a rigorous competitive tender process. The new contract demonstrates mpro5's ability to provide solutions across many vertical markets and will act as a beacon for us in the utilities sector, which we can now address in Europe and the United States."

For further information, please contact:

Crimson Tide plc	Via Alma PR
Barrie Whipp / Luke Jeffrey	01892 542 444
finnCap (Nominated adviser and Broker)
Corporate Finance: Julian Blunt / James Thompson	[phone]
Corporate Broking: Andrew Burdis	[phone]
Alma PR - (Financial PR)
Josh Royston / Will Ellis Hancock	[phone]

For further information on Crimson Tide plc, see   www.crimsontide.co.uk

 

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