Brady plc Contract win

TIDMBRY

Brady plc

19 September 2017

19(th) September 2017

Brady PLC

("Brady", the "Company" or the "Group")

CONTRACT WIN

London, 19 September 2017: Brady plc (BRY.L), a leading global provider of trading, risk management and settlement solutions to the energy, commodities, and recycling sectors, announced today that Gaelectric Trading and Market Services Limited (GTAMS), one of Ireland's leading energy trading and market services providers, has selected Brady's I-SEM Cloud solution.

The solution will support Gaelectric's electricity trading and management needs and provide energy logistics support for Great Britain, the Single Electricity Market (SEM) and the new Integrated Single Electricity Market (I-SEM) for Ireland and Northern Ireland.

Commenting on the new partnership Colin Spain, Head of Gaelectric Trading and Market Services (GTAMS) said: "Brady's systems and product offering was the clear partner and product choice for GTAMS; the new system will allow us to extend our trading capability and product offering to clients and expand our market coverage. It will allow us to grow our existing business in I-SEM and GB and will assist us in extending our activities in Europe."

Ian Jenks, chairman of Brady commented: "Working with an organisation like GTAMS as it transitions its trading operations from an in-house solution to a more scalable, cloud-based software solution is incredibly rewarding. We are very excited to be collaborating with the team as it seeks to address the challenges that the introduction of I-SEM in the all-Ireland market poses and focus on the new market opportunities that this will bring. We have been supporting energy trading and operations across Europe for the past three decades and our market knowledge can only benefit GTAMS as it seeks to grow its energy trading activities."

For further information please contact:

 
  Brady plc 
   Ian Jenks, Executive Chairman 
   Martin Thorneycroft, Chief 
   Financial Officer 
   Telephone: [phone] 
 
  Cenkos Securities 
   Ivonne Cantu 
   Alex Aylen (sales) 
   Telephone: [phone] 
   8900 
 
 
  Redleaf Communications 
   Charlie Geller 
   Telephone: [phone] 
   4769 
 

Editor's note

As one of the leading companies in the development, operation and management of renewable energy projects in wind, bioenergy and solar in the region, Gaelectric was looking for a knowledgeable and experienced partner to support its trading and operations processes. In addition, it required support for the transition from SEM to I-SEM and for future growth plans and expansion to Continental Europe.

I-SEM is a new wholesale electricity market arrangement for Ireland and Northern Ireland, designed to integrate the all-island electricity market with European electricity markets in alignment with the European Target Model, which aims to deliver increased levels of competition, security of supply and transparency.

Brady's range of solutions and services are designed to improve business processes and assist energy organisations to achieve a higher level of business efficiency by providing better insight. For GTAMS a scalable platform was an important requirement to address the company's immediate trading needs but also to support a growing range of activities through a modular solution approach that could address additional areas of operation. Brady's hands-on approach to knowledge transfer during the project was also a key factor in bringing about the partnership.

About GTAMS

Gaelectric Trading and Market Services Limited (GTAMS) is one of Ireland's leading energy trading and market services providers. Their activities include providing their partners with innovative routes to market via their Power Purchase Agreements, Supplier Lite Agreements, Supplier Services and Trading & Balancing Services. With over 20 highly skilled staff, bringing experience from European, Australasian and U.S. markets, their team's understanding of regulatory developments, market design, contract structuring & trading is unparalleled in the all-island market. GTAMS' contracted portfolio of assets has grown rapidly to 330MW across Ireland and the UK. The business is well positioned regarding the development of I-SEM to leverage the unique experience within the team and provide best in-class service to our partners.

About Brady plc

Brady plc (BRY.L) is the largest European-headquartered provider of trading and risk management software to the global commodity, recycling and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined metals, scrap and secondary metals, soft commodities and agricultural products.

Brady has 30 years' expertise in the commodity markets with over 400 customers worldwide, who depend on Brady's software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world's largest financial institutions, trading companies, miners, refiners, scrap processors, recyclers and producers, tier one banks, and a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers.

For further information, visit: www.bradyplc.com

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This information is provided by RNS

The company news service from the London Stock Exchange

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September 19, 2017 02:01 ET (06:01 GMT)