Contract Award

RNS Number : 0742D

Hardide PLC

01 March 2022

 

RNS REACH 

Hardide plc

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

Contract Award

Hardide, the developer and provider of advanced surface coating technology, is pleased to announce that it has delivered the first production set of coated turbine blades for Ansaldo Energia S.p.A, a major European manufacturer of steam and gas turbines and energy solutions transitions leader. These blades are to be installed in advanced gas turbine engines with high operational flexibility that cut CO₂ emissions and operational costs in a very demanding market. More orders for this application are expected to be placed during 2022.

The Hardide-A coating is proven to reduce wear, corrosion and erosion of the turbine blades, maintaining high efficiency for longer and reducing significant on-going maintenance costs. The Group was granted a patent in November 2019 by the UK Intellectual Property Office for an erosion resistant coating for turbine blades, vanes and other components. Equivalent registration of this patent is underway in ten leading industrial countries. The Group believes there is significant potential for further business from the gas and steam turbine sector, and has active developments with five power generation companies in the UK and Europe.

The ability to coat these components is only possible because of the investment made in the new Longlands Road site, in particular the larger coating reactor and pre-treatment line that are large enough to process blades of this size.

Philip Kirkham, CEO, commented: "This is our first production order for power generation turbine blades and we are delighted to be contributing to a new generation of technology which offers clear environmental and operational cost advantages in the power generation market. This, and similar applications in the future, would not have been possible without the investment made at the new UK site. The high level of current and forecast utilisation of this large reactor supports the decision to invest ahead of demand. Hardide is looking forward to continuing to work with Ansaldo Energia and others, including EDF Energy, and expects to receive further contracts for the coating of turbine blades this year."

Enquiries:
Hardide plc Philip Kirkham, CEO Jackie Robinson, Communications Manager	Tel: [phone]
IFC Advisory Graham Herring / Tim Metcalfe / Florence Chandler	Tel: [phone]
finnCap - Nominated Adviser and Joint Broker Henrik Persson / Abigail Kelly Richard Chambers (ECM)	Tel: [phone]
Allenby Capital - Joint Broker Tony Quirke - Sales and Corporate Broking Jeremy Porter - Corporate Finance	Tel: [phone]

Notes to editors:

Hardide develops, manufactures and applies advanced technology tungsten carbide/tungsten metal matrix coatings to a wide range of engineering components. Its patented technology is unique in combining, in one material, a mix of toughness and resistance to abrasion, erosion and corrosion; together with the ability to coat accurately interior surfaces and complex geometries. The material is proven to offer dramatic improvements in component life, particularly when applied to components that operate in very aggressive environments. This results in cost savings through reduced downtime and increased operational efficiency. Customers include leading companies operating in energy, aerospace and industrial sectors

www.hardide.com

 

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