Windar Photonics PLC New WindVision(TM) order in China (8923V)

TIDMWPHO

RNS Number : 8923V

Windar Photonics PLC

12 April 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Windar Photonics plc

("Windar" or the "Company")

New WindVision (TM) order in China

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 WindVision (TM) order for delivery in the second and third quarter of 2023.

The order is a follow on order from an existing Chinese customer, servicing selected original equipment manufacturers ("OEMs") in China. The parties have agreed to extend by one year an existing Distribution Agreement signed in July 2021 . The Agreement includes certain exclusive rights in respect of deliveries to selected turbine OEMs in China within the next year.

The gross value of the order amounts to EUR 0.87M bringing the total order book for delivery in 2023 together with that already realised revenue in 2023 to over EUR 5.1M.

Commenting on this news, Jørgen Korsgaard Jensen, Chief Executive Officer, stated:

"I am delighted to see the continuation and expansion of our partnership with this customer in China, with whom we have worked closely during the past two years. Including this new order, the Company holds a strong and diversified order book for 2023 in respect of both geographical regions and customers, and the core focus in the Company, besides continuing to expand our order book, is to increase production in 2023 to a new record level".

For further information:

 
                         Jørgen Korsgaard Jensen, 
 Windar Photonics plc     CEO                                 [phone] 
                         Chris Fielding, James Bavister 
 WH Ireland Limited       (Corporate Finance)              [phone] 
 

The person responsible for arranging the release of this announcement on behalf of the Company is Jørgen Korsgaard Jensen, Chief Executive Officer of the Company.

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April 12, 2023 02:00 ET (06:00 GMT)