New Order Update and Sales Agency Agreement

Windar Photonics PLC

06 February 2024

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Windar Photonics plc

("Windar" or the "Company")

New Order Update

and

New North America Sales Agency Agreement

Windar Photonics (AIMN: WPHO), the technology group that has developed a cost efficient and innovative LiDAR wind sensor for use on electricity generating wind turbines, is pleased to announce that, further to the reference to a future order in our December trading update, it has received two new confirmed orders from Chinese customers with a combined gross value of €1.3m, both for delivery in 2024. These orders take the cumulative order intake over the last two months to €3.9m for the Chinese market and this keeps the Company well on track to meet its ambitious production and revenue targets for the current financial year. 

The Company is also pleased to announce that it has recently entered into a sales agency agreement with AC883 Nordic Trade Services, an established operator in the North American Wind Turbine sector, which is expected to assist Windar in extending and building on its existing market presence in that territory. We look forward to this new relationship bearing fruit in the form of additional orders from North America in due course.

Jorgen Korsgaard Jensen, CEO commented:

"I am pleased to report further progress on orders received since early December from China, assisted by Windar having its own sales and service team on the ground in Shanghai. With the new sales agency agreement with AC883 Nordic Trade Services, we would expect this to underpin and accelerate our growth in the North American market."

For further information:

Windar Photonics plc
Jørgen Korsgaard Jensen, CEO	Tel:  [phone]
WH Ireland Limited (Nomad & Broker)
Hugh Morgan / James Bavister / Isaac Hooper	Tel:  [phone]

Notes to Editors:

Windar Photonics is a technology group that develops cost-efficient and innovative Light Detection and Ranging ("LiDAR") optimisation systems for use on electricity generating wind turbines. LiDAR wind sensors in general are designed to remotely measure wind speed and direction.

http://investor.windarphotonics.com/

The person responsible for arranging the release of this announcement on behalf of the Company is Jørgen Korsgaard Jensen, Chief Executive Officer of the Company.

 

END