REG - Windar Photonics PLC - New Order Update and Sales Agency Agreement

Windar PhotonicsAnnouncement

06/02/2024 07:15

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RNS Number : 1549C  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:  +45 24234930

 WH Ireland Limited (Nomad & Broker)
 Hugh Morgan / James Bavister / Isaac Hooper  Tel:  +44 20 7220 1666

 

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/)

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.

 

 

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