Pressure Technologies PLC Major Contract Win with EDF Energy (2102P)

TIDMPRES

RNS Number : 2102P

Pressure Technologies PLC

09 October 2019

9 October 2019

Pressure Technologies plc

("Pressure Technologies" or the "Group")

Major Contract Win with EDF Energy for Nitrogen Storage Solutions at UK Nuclear Power Plants

Pressure Technologies (AIM: PRES), the specialist engineering group, is pleased to announce that its wholly owned subsidiary, Sheffield based Chesterfield Special Cylinders Limited (CSC), has secured a significant contract in excess of GBP3 million to supply nitrogen storage solutions to EDF Energy for its UK nuclear power plants at Heysham, Torness and Hartlepool.

This design and supply contract comprises ultra large high pressure cylinders manufactured at CSC's Sheffield facility, in an innovative series of nitrogen storage packages to meet EDF Energy's operational requirements. The modular design is seismically qualified to allow ease of installation at EDF Energy's sites. The cylinder packages will be supplied to EDF Energy by mid-2020.

Chris Walters, Chief Executive Officer of Pressure Technologies, commented:

"This contract represents the largest order in Chesterfield Special Cylinders' history outside of the defence sector and is extremely important for the Chesterfield team and for the Pressure Technologies Group. Through the provision of these safety-critical systems, we are delighted to be supporting EDF Energy's existing and continued commitment to supply safe, low-carbon electricity to UK homes."

CSC is a long-standing key supplier of gas storage solutions to power stations across the UK.

For further information, please contact:

 
 Pressure Technologies plc 
 Chris Walters, Chief Executive          Tel: [phone] 
 Joanna Allen, Chief Financial Officer   [e-mail] 
  N+1 Singer (Nomad and Broker) 
                                           Tel: [phone] 
 Mark Taylor / Lauren Kettle 
 IFC Advisory Ltd (Financial PR          Tel: [phone] 
  and IR) 
 Graham Herring / Tim Metcalfe / 
  Zach Cohen 
 

COMPANY DESCRIPTION

Company description - www.pressuretechnologies.com

With its head office in Sheffield, the Pressure Technologies Group was founded on its leading market position as a designer and manufacturer of high-integrity, safety-critical components and systems serving global supply chains in oil and gas, defence, industrial gases and hydrogen energy markets.

The Group has two divisions, Precision Machined Components and Chesterfield Special Cylinders.

Precision Machined Components (PMC) - www.pt-pmc.com

-- Precision Machined Components includes the Al-Met, Roota Engineering, Quadscot and Martract brands.

Chesterfield Special Cylinders (CSC) - www.chesterfieldcylinders.com

-- Chesterfield Special Cylinders, Sheffield, includes CSC Deutschland Gmbh, which is based in Dorsten, Germany and Chesterfield Special Cylinders Inc. which is based in Houston, USA

......................................................................................................................

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

CNTDBBDGCXGBGCI

(END) Dow Jones Newswires

October 09, 2019 02:00 ET (06:00 GMT)