Order Update - New Channel Partner & Customer

RNS Number : 8421D

Sabien Technology Group PLC

24 October 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

24 October 2022

Sabien Technology Group plc

("Sabien", the "Company" or the "Group")

Order Update - New Channel Partner and Strategic Customer

Sabien Technology Group plc (AIM:SNT), the company focused on a green aggregation strategy, provides an update on a new order received on 21 October 2022 from a strategically important customer.

As part of our previously announced strategy of moving to a channel selling model, we are pleased to announce a further repeat order has been received from CBRE for multiple installations of Sabien's M2G Cloud product across Ericsson's European estate.

As a CBRE Approved Supplier, Sabien has been working directly with the CBRE Enterprise division and the CBRE EMEA Energy & Technical Management team to deliver energy reduction for Ericsson throughout EMEA. Our first regional installation earlier this year is currently delivering a net 12.5% saving. Further new installations in Estonia / Rome / Madrid will maximise Ericsson's carbon and OPEX savings. This is critical during the European-wide energy crisis.

Orders across the first three building installations exceed £40,000 in the current period and discussions are in progress to ramp up deployment across Ericsson's international estate.

It is fitting that Ericsson, the leading provider of 5G network equipment, is an early adopter of Sabien's unique Cloud IOT GSM enabled solution. Sabien's M2G Cloud dashboard enables CBRE to showcase to Ericsson and other customers, visible plant saving and performance, individually, locally or globally at the click of a button.

Richard Parris, Chairman of Sabien, commented:

"CBRE is an important partner and Ericsson a flagship end-customer for our M2G technology. The Sabien sales team have worked tirelessly to build the relationship with CBRE such that they in turn could secure such a technically demanding customer. This is evidence of the new generation sales pipeline Sabien has been building for the M2G Cloud platform. As CBRE and other, as yet to be announced partners, gather momentum and as the shortage of silicon chips which has been holding back our stock of M2G units abates, our sales volumes are anticipated to accelerate. We have chosen to announce this order only after three repeat orders have been secured because I believe news flow to the market should only be made based on robust evidence of performance."

For Further Information: Sabien Technology Group plc Richard Parris, Executive Chairman Scott Fulton, Investor Relations	[phone] [e-mail]
Allenby Capital Limited (Nominated Adviser) John Depasquale / Nick Harriss / Vivek Bhardwaj	[phone]
Peterhouse Capital Limited (Broker) Duncan Vasey / Lucy Williams	[phone]

 

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