Result of AGM

RNS Number : 8112C

Windar Photonics PLC

30 June 2016

 

30 June 2016

Windar Photonics plc

("Windar" or the "Company")

Result of Annual General Meeting

Windar Photonics plc (AIM:WPHO) is pleased to announce that at its Annual General Meeting held earlier today, all resolutions put to shareholders were duly passed.

For further information:

Windar Photonics plc	Martin Rambusch, 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") optimization systems for use on electricity generating wind turbines. LIDAR wind sensors in general are designed to remotely measure wind speed and direction.

About WindEYE™

The Group's key product is the WindEye™ Sensor, which measures wind direction and wind speed by scanning a laser beam ahead of the wind turbine. The WindEye™ Sensor was designed for the general optimization of wind turbines.

Based on the Group's testing, it has proven possible for the WindEye™ Sensor to increase the power output of a wind turbine by approximately one to four per cent and further reduce strain on vital components of the wind turbine. The WindEye™ Sensor has been designed to have a multi-year lifecycle with limited maintenance other than the replacement of the light source every two years. Due to the use of a semi-conductor laser, the Directors believe that the Company is able to offer the WindEye™ Sensor at a lower cost compared to competing products whilst still retaining an attractive margin.

The Directors believe that the WindEye™ Sensor can be differentiated from comparable products currently available on the market by its lower price and durability, which typically enables the Company to provide its customers with a return on investment within one to four years.

http://investor.windarphotonics.com 

 

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