TIDMSNT

RNS Number : 6470J

Sabien Technology Group PLC

30 June 2017

30 June 2017

Sabien Technology Group plc

("Sabien" or the "Company")

Order received

Sabien Technology Group plc (AIM: SNT), the manufacturer and supplier of M1G and M2G commercial boiler energy efficiency technologies, is pleased to announce it has been awarded a contract worth GBP287,750. The order will be recognised as sales revenue during the first quarter of the 2017/18 financial year.

The contract is awarded by Interserve, one of the world's foremost support services and construction companies, for the deployment of Sabien's patented M2G Boiler Optimisation Technology at one of their clients.

Since the companies last market update on 29 March 2017, sales orders totalling GBP26,500 were also received from Fireye Inc (USA), Optimum Group Services plc, Schroders Investment Management Ltd and Kier Facilities Management.

Alan O'Brien, Chief Executive Officer of Sabien, said:

"This is a great contract win for Sabien and is further recognition of the continuing success we can achieve with our alliance partners. This is an excellent demonstration of the quality of our M2G boiler control, scale of installation expertise and the project management that Sabien can bring to a contract of this type utilising skills gathered from previous large scale client M2G roll out programmes. We are delighted to be working with Interserve again.

For further information:

Sabien Technology Group plc

   Alan O'Brien, CEO                                 Tel: +44 (0) 20 7993 3700 
   Gus Orchard, CFO                                 www.sabien-tech.co.uk

Stockdale Securities Ltd

   Antonio Bossi                                        Tel: +44 (0) 20 7601 6100

www.stockdalesecurities.com

Background:

Sabien Technology is a UK-based company which specialises in providing proven and commercially viable technology to reduce carbon emissions and energy usage for private and public organisations.

The M2G is a patented energy efficient technology designed to reduce fuel consumption in commercial boilers. M2G dynamically responds to changing load demand by measuring, identifying and removing dry cycling thus maximising efficiency under all conditions.

M2G is retro-fitted to commercial boilers regardless of age and size and fully integrates and complements existing controls, such as BMS, boiler sequencing, weather compensation and building optimisation controls. Using intelligent software and hardware, the M2G unit improves a boiler's efficiency by reducing energy wastage.

For further information, please visit our website www.sabien-tech.co.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

END

CNTUKRNRBOANUAR

(END) Dow Jones Newswires

June 30, 2017 02:00 ET (06:00 GMT)

Sabien Technology (LSE:SNT)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Sabien Technology Charts.
Sabien Technology (LSE:SNT)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Sabien Technology Charts.