Further Volume Vestas Order Received

RNS Number : 6216W

Windar Photonics PLC

23 December 2021

 

23 December 2021

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the Market Abuse Regulations No. 596/2014 which is part of English law by virtue of the European (Withdrawal) Act 2018, as amended. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Windar Photonics plc

("Windar" or the "Company")

Further Volume Vestas Order Received

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 second volume order under the Company's global distribution agreement with Vestas Wind Systems A/S ("Vestas"). The order is for 89 of the Company's latest generation WindEye 3 systems for two wind sites located in North America, with delivery expected to commence during the first quarter of 2022.

Receipt of a second volume order for the Company's WindEye 3 systems is further evidence of the optimised performance solution that the Company has developed for the V82 and NM82 wind turbine models. Through the successful demonstration of material yaw-alignment optimisation, providing proven annual energy production increases of more than 3%, and the reduction of wind turbine loads and alarms resulting in less downtime in high wind speed periods, the Company has been able to demonstrate the significant end-user benefit of its products to customers.

The global distribution agreement with Vestas was entered into for the purpose of offering the Company's LiDAR technology to the global marketplace as a retrofit product to optimise the energy production from existing assets. This second volume order is with a new end customer, enhancing the market penetration of the Company's LiDAR systems and diversifying the end customer base.

Windar will continue to work with its partners and customers to offer the recently optimised power improvement solution for the V82 and NM82 wind turbine models, of which there is roughly 6GW of installed capacity currently in operation globally.

Jørgen Korsgaard Jensen, CEO of Windar, commented: "After announcing the first volume order of 110 WindEye 3 systems under our Vestas Distribution Agreement on 24 November 2021, I am very pleased to see this second volume order from Vestas. This second volume order validates the very strong and efficient solution Windar and Vestas are able to the offer to the global wind turbine platform market. There remains a substantial market of potential installed turbine platforms for the Company and Vestas to continue to target during the near to longer term future and in parallel we are focused on expanding this concept to additional turbine platforms."

For further information:

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

Notes to Editors:

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