7 April 2017
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. 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")
25 LiDAR Unit Order in China and Appointment of Regional Distributors Globally
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 order for 25 WindEYE™ LiDAR units from a newly appointed regional distributor in the Chinese market, with financing provided by Denmark's export credit agency, Eksport Kredit Fonden ("EKF"). The LiDAR sensor units are expected to be delivered in H1 2017.
The newly appointed distributor is working closely with specific OEMs in the Chinese market targeting new LiDAR integration projects. The LiDAR units are expected to be installed and commissioned shortly after delivery in H1 2017.
In addition, following our strategy - which was defined in 2016 - we have in the first quarter of 2017 extended our distribution network further so we today have 13 regionally appointed distributors throughout Asia, Europe and Americas.
Jørgen Korsgaard Jensen, Chief Executive Officer of the Company, commented:
"I am very pleased with this new order from our new regional distributor in China. After last year's reorganisation of our sales team and strategy in China, we are clearly seeing momentum building in this very important Chinese market within both the IPP and OEM market segments. I expect to see continued momentum not only in China but also through the extensive distribution network established over the last nine months."
For further information:
Windar Photonics plc |
Jørgen Korsgaard Jensen, Interim CEO |
+45 24234930
|
Cantor Fitzgerald Europe Nominated Adviser and Broker |
Andrew Craig Richard Salmond |
+44 (0)20 7894 7000
|
About Windar:
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
