For immediate release
7 June 2018
Sabien Technology Group plc
("Sabien" or "the Company")
Corporate Update - New Order Received
Sabien Technology Group plc (AIM: SNT), the manufacturer and supplier of M1G and M2G commercial boiler energy efficiency technologies, is pleased to announce that it has been awarded a new contract, as principal contractor and supplier for the installation of its M2G product, of £151,683.The order will be recognised as sales revenue during Q1 of the financial year ending 30 June 2019.
The client, based in Scotland, awarded the contract after piloting M2G in its property estate in 2017/18.
Alan O'Brien, Chief Executive Officer of Sabien, said:
"This is a very pleasing new contract win for Sabien and an excellent demonstration of the quality of our M2G boiler control, scale of installation expertise and the project management that Sabien can bring to a contract of this type, utilising skills gathered from previous large-scale client M2G roll out programmes.
For further information:
Sabien Technology Group plc Alan O'Brien, CEO Bruce Gordon, Chairman |
Tel: +44 (0) 20 7993 3700 www.sabien-tech.co.uk |
Beaumont Cornish Limited (Nominated Adviser and Joint Broker) Roland Cornish, Michael Cornish |
Tel: +44 (0) 207 628 3396 www.beaumontcornish.com |
Peterhouse Capital Limited (Joint Broker) Martin Lampshire and Fungai Ndoro |
Tel: +44 (0) 20 7469 0930 |
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged the release of this announcement on behalf of the Company was Alan O'Brien.
Background:
Sabien Technology is a UK-based company which specialises in providing proven and commercially viable technology to reduce carbon emissions and energy usage for private and public organisations. The M2G is a patented energy efficient technology designed to reduce fuel consumption in commercial boilers. M2G dynamically responds to changing load demand by measuring, identifying and removing dry cycling thus maximising efficiency under all conditions.
M2G is retro-fitted to commercial boilers regardless of age and size and fully integrates and complements existing controls, such as BMS, boiler sequencing, weather compensation and building optimisation controls. Using intelligent software and hardware, the M2G unit improves a boiler's efficiency by reducing energy wastage.
For further information, including a copy of this announcement, please visit our website www.sabien-tech.co.uk.
ENDS
