REG - Windar Photonics PLC - China Distribution Agreement

Windar PhotonicsAnnouncement

09/11/2022 07:01

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RNS Number : 7315F  Windar Photonics PLC  09 November 2022

9 November 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Windar Photonics plc

("Windar" or the "Company")

 

China Distribution Agreement

 

Windar Photonics plc (AIM: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 it has entered into a
distribution agreement with a partner in China, which sells optimisation
solutions to the wind turbine industry in China, for the sale and promotion of
the Windar 4-beam WindVISION LiDAR system.

 

The distribution agreement grants the partner, until 31 December 2023, certain
exclusive rights in China, subject to limited exceptions in respect of
existing customers of Windar, over the sale and marketing of the 4-beam
WindVISION LiDAR system. The system will be sold as a retrofit after-sales
solution to the wind industry in China.

 

The Directors estimate that the agreement will, over its term, generate
revenue in excess of €1.4 million, with 85 per cent payable ahead of
delivery.

 

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.

 

For further information:

 

 Windar Photonics plc                        Tel:  +45 24234930

 Jørgen Korsgaard Jensen, CEO

 Cenkos Securities plc (Nomad & Broker)      Tel:  0131 220 6939

 Neil McDonald / Pete Lynch

 

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 (http://investor.windarphotonics.com)

 

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