Gas Turbine Efficiency PLC
31 March 2008
31 March 2008
GTE wins $2.3m of orders, increasing total '08 order book to $16.3m
('GTE' or 'the Group')
Gas Turbine Efficiency plc, a leading provider of advanced systems to enhance
the performance of aviation and industrial turbines, is pleased to announce that
it has continued to experience robust trading and has received additional orders
totalling over $2.3m, bringing the total backlog for 2008 to $16.3m, up 58%
compared with the same time last year in 2007.
The new orders include a breakthrough $1.4m contract from one of the world's
largest Original Equipment Manufacturers of industrial turbines. This is the
first major contract won by GTE from this customer since signing a global OEM
agreement in October 2007. Under the terms of the contract, GTE will supply
systems used for emission reduction.
The strengthening order book provides further visibility to GTE's prospects for
2008 and reinforces its strategy to align with the critical long term industry
growth drivers including:
1 Increased energy demand and need for infrastructure solutions
2 Rising fuel costs and need for efficiency solutions
3 Strengthening environmental regulatory frameworks
4 Fuel diversity challenges as industry moves toward alternate fuel sources
Steven Zwolinski, chief executive of GTE, commented: 'GTE is continuing to
experience a strong ramp-up in orders as the global industrial turbine sector
increasingly recognises the competitive value of our products in reducing fuel
costs, lowering greenhouse gas emissions and equipment downtime. This is the
result of strong foundational growth initiatives implemented by the Group over
the past two years to position itself for long term growth in the global $8-10bn
energy marketplace.'
Enquiries:
Gas Turbine Efficiency plc
Steven Zwolinski, CEO +46 8 546 10 528
Libertas Capital
Aamir Quraishi, Matthew Hindhaugh +44 20 7569 9650
Corfin Communications
Neil Thapar, Harry Chathli, Alexis Gore +44 20 7977 0020
About GTE
Gas Turbine Efficiency plc, whose shares are traded on London Stock Exchange's
AIM market (Ticker: GTE), designs, manufactures and markets advanced integrated
solutions for environmental, process and asset optimisation of gas turbines
primarily in the aviation, industrial and oil & gas sectors. These solutions
include compressor cleaning systems, performance monitoring, fuels management,
OEM approved combustion design and repair services and fluid and control
sub-systems that improve turbine performance and availability, fuel efficiency
and parts life, resulting in increased profits for its clients and a cleaner
environment. The Group sells its products to blue chip customers worldwide from
operational centres in Europe and the USA.
This information is provided by RNS
The company news service from the London Stock Exchange
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