GTE wins $2.3m of orders

Gas Turbine Efficiency PLC 31 March 2008 31 March 2008 GTE wins $2.3m of orders, increasing total '08 order book to $16.3m ('GTE' or 'the Group') Gas Turbine Efficiency plc, a leading provider of advanced systems to enhance the performance of aviation and industrial turbines, is pleased to announce that it has continued to experience robust trading and has received additional orders totalling over $2.3m, bringing the total backlog for 2008 to $16.3m, up 58% compared with the same time last year in 2007. The new orders include a breakthrough $1.4m contract from one of the world's largest Original Equipment Manufacturers of industrial turbines. This is the first major contract won by GTE from this customer since signing a global OEM agreement in October 2007. Under the terms of the contract, GTE will supply systems used for emission reduction. The strengthening order book provides further visibility to GTE's prospects for 2008 and reinforces its strategy to align with the critical long term industry growth drivers including: 1 Increased energy demand and need for infrastructure solutions 2 Rising fuel costs and need for efficiency solutions 3 Strengthening environmental regulatory frameworks 4 Fuel diversity challenges as industry moves toward alternate fuel sources Steven Zwolinski, chief executive of GTE, commented: 'GTE is continuing to experience a strong ramp-up in orders as the global industrial turbine sector increasingly recognises the competitive value of our products in reducing fuel costs, lowering greenhouse gas emissions and equipment downtime. This is the result of strong foundational growth initiatives implemented by the Group over the past two years to position itself for long term growth in the global $8-10bn energy marketplace.' Enquiries: Gas Turbine Efficiency plc Steven Zwolinski, CEO +46 8 546 10 528 Libertas Capital Aamir Quraishi, Matthew Hindhaugh +44 20 7569 9650 Corfin Communications Neil Thapar, Harry Chathli, Alexis Gore +44 20 7977 0020 About GTE Gas Turbine Efficiency plc, whose shares are traded on London Stock Exchange's AIM market (Ticker: GTE), designs, manufactures and markets advanced integrated solutions for environmental, process and asset optimisation of gas turbines primarily in the aviation, industrial and oil & gas sectors. These solutions include compressor cleaning systems, performance monitoring, fuels management, OEM approved combustion design and repair services and fluid and control sub-systems that improve turbine performance and availability, fuel efficiency and parts life, resulting in increased profits for its clients and a cleaner environment. The Group sells its products to blue chip customers worldwide from operational centres in Europe and the USA. This information is provided by RNS The company news service from the London Stock Exchange
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