6 December 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")
Windar Photonics announcing new order from one Chinese OEM manufacturer
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 the Company has received an order for 5 LiDAR systems from a Chinese OEM manufacturer for immediate delivery. The orders are a mix of both our WindEye™ and WindVision™ LiDAR systems.
The LiDAR systems are intended to be integrated directly for general turbine optimization. The integration of the LiDAR enables the wind turbine to optimize the annually generated power and at the same time reduce the general turbine load whereby the life span of the wind turbine can be enhanced. The integration and turbine optimization will take advantage of not only our capabilities of measuring wind speed and wind direction but also the recently added additional feature of Wind Shear detection and not least Wake and Turbulence detection.
Jørgen Korsgaard Jensen, Chief Executive Officer of the Company, commented:
"I am very pleased with this new order and despite knowing it does take a considerable amount of time from starting such new test projects to final turbine platform design wins and volume orders, it is important to continue to grow the number of these projects to support our long term growth expectations. With this latest order we now have either completed or are currently conducting test projects with the majority of both top 10 and top 20 global OEM manufactures. Some of these existing projects have been ongoing for several years, and based on test results we do expect to achieve major and all-important turbine platform design wins to substantially transform our activity and revenue levels"
For further information:
Windar Photonics plc |
Jørgen Korsgaard Jensen, CEO |
+4524234930
|
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
