Hardide PLC Contract Award
09 September 2021 - 4:00PM
RNS Non-Regulatory
TIDMHDD
Hardide PLC
09 September 2021
REACH ANNOUNCEMENT (NON-REGULATORY)
Hardide plc
("Hardide", "the Group" or "the Company")
Contract Award
Hardide, the developer and provider of advanced surface coating
technology, is pleased to announce that a major European
manufacturer of steam and gas turbines for power generation has
placed its first production order for the Hardide-A coating on gas
turbine compressor blades. The blades are to be processed by
Hardide before the end of 2021 and installed in a high efficiency,
low emission, gas turbine in early 2022. This initial contract has
a value of c. GBP200,000.
The ability to coat these components is only possible because of
the investment made in the new Longlands Road site, where the
larger coating reactor and pre-treatment line can accommodate these
sizes of blades.
The Hardide-A coating has been proven to reduce wear, corrosion
and erosion of the turbine blades, maintaining high efficiency for
longer and reducing significant on-going maintenance costs. Hardide
was granted a patent in November 2019 by the UK Intellectual
Property Office for an erosion resistant coating for turbine
blades, vanes and other components. Equivalent patent applications
have been submitted to the Europatent organisation and a further
nine countries worldwide. The Group believes there is significant
potential for further developments in the gas and steam turbine
sector.
Philip Kirkham, CEO, commented: "This is our first production
order for power generation turbine blades and we are delighted to
be working on this initial contract in a sector that we believe is
ideally suited to our specialist coatings. This and similar
applications in the future would not have been possible without the
investment made at the new site. In particular, the larger coating
reactor and pre-treatment line enables us to process this size of
component. Hardide is looking forward to continuing work with this
customer and others, including EDF Energy, and expects to receive
further contracts for the coating of turbine compressor
blades."
Enquiries:
Hardide plc Tel: +44 (0) 1869
Philip Kirkham, CEO 353 830
Jackie Robinson, Communications Manager
IFC Advisory Tel: +44 (0) 20 3934
Graham Herring / Tim Metcalfe / Florence Chandler 6630
finnCap - Nominated Adviser and Joint Broker Tel: +44 (0) 2072
Henrik Persson / Abigail Kelly 200 500
Richard Chambers (ECM)
Allenby Capital - Joint Broker Tel: +44 (0) 20 3328
Tony Quirke - Sales and Corporate Broking 5656
Jeremy Porter - Corporate Finance
Notes to editors:
Hardide develops, manufactures and applies advanced technology
tungsten carbide/tungsten metal matrix coatings to a wide range of
engineering components. Its patented technology is unique in
combining, in one material, a mix of toughness and resistance to
abrasion, erosion and corrosion; together with the ability to coat
accurately interior surfaces and complex geometries. The material
is proven to offer dramatic improvements in component life,
particularly when applied to components that operate in very
aggressive environments. This results in cost savings through
reduced downtime and increased operational efficiency. Customers
include leading companies operating in oil and gas exploration and
production, valve and pump manufacturing, precision engineering and
aerospace industries.
www.hardide.com
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END
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