REG - Windar Photonics PLC - New WindVision™ order in China

Windar PhotonicsAnnouncement

12/04/2023 07:00

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RNS Number : 8923V  Windar Photonics PLC  12 April 2023

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")

 

New WindVision™ order in China

 

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 received a new
WindVision™ order for delivery in the second and third quarter of 2023.

 

The order is a follow on order from an existing Chinese customer, servicing
selected original equipment manufacturers ("OEMs") in China. The parties have
agreed to extend by one year an existing Distribution Agreement signed in July
2021 . The Agreement includes certain exclusive rights in respect of
deliveries to selected turbine OEMs in China within the next year.

 

The gross value of the order amounts to EUR 0.87M bringing the total order
book for delivery in 2023 together with that already realised revenue in 2023
to over EUR 5.1M.

 

Commenting on this news, Jørgen Korsgaard Jensen, Chief Executive Officer,
stated:

"I am delighted to see the continuation and expansion of our partnership with
this customer in China, with whom we have worked closely during the past two
years. Including this new order, the Company holds a strong and diversified
order book for 2023 in respect of both geographical regions and customers, and
the core focus in the Company, besides continuing to expand our order book, is
to increase production in 2023 to a new record level".

 

For further information:

 

 

 Windar Photonics plc                          Jørgen Korsgaard Jensen, CEO                                    +45 2423 4930

 WH Ireland Limited                            Chris Fielding, James Bavister (Corporate Finance)              +44 20 7220 1666

 

 

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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