Award of Contract

RNS Number : 3038W

Sabien Technology Group PLC

17 November 2010

 



17^th November 2010

Sabien Technology Group plc

("Sabien" or "the Company")

Sabien contract wins

Sabien Technology Group plc (AIM: SNT), the manufacturer and supplier of M2G, an energy efficiency technology, is pleased to announce it has been awarded two contracts totalling £335,850.

Norland Managed Services Ltd, a leading Facilities Management company, has placed an order totalling £186,000 to install Sabien's M2G technology across a number of buildings at Lloyds Banking Group.

Lincolnshire County Council has placed an order for £149,850 to install M2G in buildings which include county offices, county halls, museums, libraries, and social care offices within their estate.

The two contracts bring total sales orders for the period of July to November 2010 to an aggregate total of £1.3m, all of which will be recognised as sales revenue during this financial year (year end 30 June 2011). This represents a 33% increase over total sales revenue for the whole of the last financial year ended 30 June 2010.

Alan O'Brien, Chief Executive of Sabien, commented:

"The Norland M2G contract is a great endorsement as it represents a repeat order for M2G reinforcing just how effective the technology is at reducing gas consumption and CO₂ emissions. We are also delighted to have been awarded a contract by Lincolnshire County Council as yet again it reinforces the key role M2G is now playing in reducing energy consumption and CO₂ emissions within local authorities."

For further information:

Sabien Technology Group plc

Alan O'Brien, CEO                                                         Tel: [phone]

Gus Orchard, CFO                                                         www.sabien-tech.co.uk

Altium

Phil Frame                                                                    Tel: [phone]

Adrian Reed                                                                  www.altiumcapital.com

 

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