Milestone Contract Win

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™ 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™ 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™ LiDAR systems are intended for installation on existing wind turbine generators in China, where the WindEye™ LiDAR systems will be integrated with the wind turbines' control systems, allowing the wind turbines to receive measurement data directly from the WindEye™ LiDAR system. The installed WindEye™ 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™ 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 plc	Jørgen Korsgaard Jensen, CEO	[phone]
Cantor Fitzgerald Europe         Nominated Adviser and Broker	Andrew Craig Richard Salmond	[phone]

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 

 

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