RCS - FireAngel SafetyTech - Third Development Milestone

Fireangel Safety Technology

02/11/2022 07:00

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RNS Number : 9812E  FireAngel Safety Technology Group  02 November 2022

REACH

2(nd) November 2022

 

FireAngel Safety Technology Group plc

('FireAngel' or the 'Company')

 

Third Development Milestone

 

Further to its announcement on 28 March 2022, FireAngel (AIM: FA.), a leading
developer and supplier of home safety products, is pleased to announce that it
has successfully delivered the third 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 third contractual NGSA development milestone, which was delivered on time
and within budget, sees the delivery of a fully featured product development
board, which allows for design verification and testing to be conducted on all
product functions prior to committing to the first, product representative
build. This forms a critical element of the design process of the NGSA and
allows Techem and the Company's Research and Development team to verify fully
the electronics design at an early stage, thereby de-risking future technical
delivery.

 

As a result, development phase two (DP2) of the Company's development
agreement with Techem is already over 34 per cent. complete (up from over 27
per cent. as at 27 July 2022) on a planned man-days basis.

 

John Conoley, Executive Chairman of FireAngel, commented:

"The transformational partnership with Techem continues to be of long-term
value and of significance for FireAngel and its stakeholders. We are pleased
to announce the successful delivery of the third milestone following the
formal signing of DP2."

 

- Ends -

 

For further information, please contact:

 

   FireAngel Safety Technology Group plc                024 7771 7700
   John Conoley, Executive Chairman
   Zoe Fox, Chief Finance Officer

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

   Singer Capital Markets (Joint broker)                0207 496 3000
   Rick Thompson/Alex Bond

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

 

 

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
(http://www.fireangeltech.com/)

 

About Techem

Techem Energy Services GmbH ("Techem"), one of the leading service providers
for green and smart buildings, 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 20
countries with efficient ways of energy and water consumption and has been
doing so for more than 70 years.

 

 

 

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