Wins UK Environment Agency Contract Worth £2.5M

RNS Number : 2470J

Strat Aero PLC

08 September 2016

 

Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support Services

8 September 2016

Strat Aero plc ("Strat Aero", the "Company" or the "Group")

Wins UK Environment Agency Contract Worth Up To £2.5million

Strat Aero plc, an international aerospace company focused on the rapidly emerging Unmanned Aerial Vehicle ("UAV") sector, is pleased to announce that its wholly-owned subsidiary, Geocurve, has been awarded a further contract to provide aerial inspection and level survey services for the Environment Agency's Thames Estuary Asset Management 2100 (TEAM2100) programme.

The contract was awarded after a rigorous competitive tender process and follows the successful completion of the Isle of Grain survey project where Geocurve combined multiple UAV flights, land-based surveys and bathymetric surveys to deliver a suite of video, orthomosaic photo, 3D model and survey products.  Depending on contract options and call-off timing, the TEAM2100 programme could deliver in the region of £1m in revenue to Strat Aero over the next 18 months, and £2.5m over the duration of the whole programme.

TEAM2100 is delivering the first 10 years of capital investment in the tidal flood defences of the Thames Estuary as recommended by the TE2100 Plan.  TEAM2100 aims to reduce the risk of tidal flooding to 1.25 million people and £200 billion worth of property by replacing and refurbishing the tidal flood defences.  TEAM2100, which was established in 2014, is an integrated and co-located team comprising the Environment Agency, global engineering company CH2M, and key supply chain partners.  The £300million programme covers the tidal flood defences of the Thames estuary between Teddington in the west, Shoeburyness in Essex, and the Isle of Grain in Kent.

Iain McLure, CEO of Strat Aero plc, said "I am delighted that we have been selected to continue our successful aerial and land survey work for the Environment Agency's TEAM2100 programme.  To be chosen for such an important role in protecting the UK's capital city is an enormous honour and one which reflects our growing reputation as the UAV topographic and hydrographic surveying, inspection and engineering services provider of choice."

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For further information please visit www.strat-aero.com or contact:

Strat Aero plc	Tel: [phone]
Graham Peck (Chairman)
SP Angel Corporate Finance LLP	Tel: [phone]
Nominated Adviser and Joint Broker
Stuart Gledhill Jeff Keating
Beaufort Securities Limited	Tel: [phone]
Joint Broker
Elliot Hance
Cornhill Capital Ltd
Joint Broker
Colin Rowbury	Tel: [phone]
St Brides Partners Ltd	Tel: [phone]
Financial PR Frank Buhagiar Susie Geliher

Notes

Strat Aero plc is a multi-divisional international aerospace services company, focussed primarily on the provision of complete client solutions in the Unmanned Aerial System ('UAS' market), which is predicted to show exponential growth over the coming decade.  Commercial and military applications in UASs are expected to be a dynamic growth sector in the aerospace industry over the next 10 years with the UAS market forecast to grow to more than US$82.1 billion between 2015 and 2025 (AUVSI Economic Report 2013) and the global airborne Intelligence, Surveillance and Reconnaissance ('ISR') market estimated to grow to US$19.23 billion by 2023. 

 

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