RCS - FireAngel SafetyTech - Fifth Development Milestone with Techem Agreement

Fireangel Safety Technology

10/07/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230710:nRSJ4174Fa&default-theme=true

RNS Number : 4174F  FireAngel Safety Technology Group  10 July 2023

 

10 July 2023

 

FireAngel Safety Technology Group plc

('FireAngel' or the 'Company')

 

Fifth Development Milestone with Techem Agreement

 

Further to its announcement of 20 March 2023, FireAngel (AIM: FA.), a leading
developer and supplier of home safety products, is pleased to announce that it
has successfully delivered the fifth development milestone of its agreement
with Techem Energy Services GmbH ("Techem") in connection with the new
generation smoke alarm ("NGSA") being developed, primarily for the German
market.

 

The fifth contractual NGSA development milestone, which was delivered on time,
sees the project now 52 per cent. complete (up from 45 per cent. complete as
at 6 June 2023) on a planned man-days basis. This also sees the electronics
development component of the agreement now 95 per cent. complete (up from 91
per cent. complete as at 6 June 2023) and on schedule.

 

Neil Radley, Chief Executive Officer of FireAngel, commented:

"The Techem partnership remains of significant long-term strategic value to
FireAngel and its stakeholders. I am pleased to be able to announce
achievement of this latest milestone, which remains on schedule."

 

- Ends -

  For further information, please contact:

 

 FireAngel Safety Technology Group plc         024 7771 7700
 Neil Radley, Chief Executive Officer
 Zoe Fox, Chief Finance Officer

 Shore Capital (Nominated adviser and broker)
 Tom Griffiths/David Coaten/Tom Knibbs         020 7408 4050

 Houston (Financial PR)
 Kate Hoare/Ben Robinson/Kelsey Traynor        0204 529 0549

 

Notes to Editors

 

About FireAngel Safety Technology Group plc

FireAngel's mission is to protect and save lives by making innovative home
safety products which are simple and accessible. FireAngel is one of the
market leaders in the European home safety products market.

FireAngel's principal products are connected smoke alarms, CO alarms, heat
alarms and accessories.  The Company has an extensive portfolio of patented
intellectual property in Europe, the US and other selected territories.
Products are sold under FireAngel's leading brands of FireAngel, FireAngel
Pro, FireAngel Specification and AngelEye.

For further product information, please visit:  www.fireangeltech.com
(https://url.avanan.click/v2/___http:/www.fireangeltech.com/___.YXAxZTpzaG9yZWNhcDphOm86ZmE1YmYxYzdmZWYxNjJkOTA1ZjdmOGQzNjQ5OWFkOGQ6Njo4NzVkOjIwNTJmNTcyMDNhMDYxMzA5NTEwZjg5OTBkZjM5ODQ5N2NiNjg4ZGNkYzI0NGUzZWNjYTYzNzJkMTAxZWM5MGM6cDpU)

 

About Techem

Techem, one of the leading service providers for green and smart buildings,
has signed an agreement to develop a new generation alarm primarily for the
German market. Techem's focus is on energy efficiency along the entire real
estate value chain. It supports over 12 million properties in 19 countries
with efficient ways of energy and water consumption and has been doing so for
more than 70 years.

 

 

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAEAAXNELDDEFA