Windar Photonics PLC New mobile emission detection project (9560A)

TIDMWPHO

RNS Number : 9560A

Windar Photonics PLC

07 June 2021

7 June 2021

Windar Photonics plc

("Windar" or the "Company")

New mobile emission detection project

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 entered into a new four year development project focused on developing a drone based emission detection system (the "Development Project").

The Development Project, which brings together five private companies and the Technical University of Denmark ("DTU"), has a total budget of Euro 2.2 million and is backed by a public grant of Euro 1.7 million from the Innovation Fund Denmark, under its Grand Solutions program. The aim of the Development Project is to develop a mobile, cost-efficient laser based gas sensor for remote sensing of important greenhouse gasses such as CO(2) and CH(4) , and at a later stage, NH(3) and H(2) O. The core detection technologies will be based around the current LiDAR technologies developed by Windar.

Christian Pedersen, Professor at DTU Fotonik commented: "Based on our extensive environmental research within DTU, w e see an urgent need for better sensor techniques to track the impact of green initiatives and reduction technologies on greenhouse gas emissions, as society invests heavily in a speedy green transition, and I think the project can deliver a cost efficient and very accurate measuring system to accommodate for these future needs."

The targeted business model will eventual be centered around the same business concept as Windar's Lidar-as-a-Service - LaaS, which was launched at the beginning of 2021 towards the wind turbine industry, whereby revenue is expected to be generated based on delivery of cloud based key environmental data reports.

Jørgen Korsgaard Jensen, Chief Executive Officer of the Company, commented: " I am very pleased to announce this new Development Project with the potential of expanding the deployment of our core technologies into new exciting business areas. If successful, being able to manufacture and market a cost-efficient solution for monitoring gas emissions such as CH(4) and CO(2) could be instrumental for future policy makings in our combat against the global warming issue, with Windar technologies and products being the backbone for developing a cloud-based data collection business opportunity."

For further information:

 
 Windar Photonics plc                        T el: [phone] 
 Jørgen Korsgaard Jensen, CEO 
 
 C enkos Securities plc (Nomad & Broker) 
 Neil McDonald / Pete Lynch                  Tel: [phone] 
 

About Windar:

Windar Photonics is a technology group that develops cost-efficient and innovative Light Detection and Ranging ("LiDAR") optimization 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

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June 07, 2021 02:00 ET (06:00 GMT)