Windar Photonics PLC Vestas Global Distribution Agreement (9075S)
28 June 2018 - 7:45PM
UK Regulatory
TIDMWPHO
RNS Number : 9075S
Windar Photonics PLC
28 June 2018
28 June 2018
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. 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")
Global Distribution Agreement with Vestas
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 Windar and Vestas Wind Systems A/S ("Vestas"), the wind
turbine manufacturer, have signed a global distribution agreement
for the sale and promotion of Windar's 2-beam LiDAR system. The
system will be sold as a retrofit after-sales solution to the wind
industry.
With more than 78 GW under service, Vestas is the largest
maintenance provider in the wind industry. As part of its service
portfolio, Vestas services close to 9 GW of non-Vestas turbines.
Vestas' service network consists of more than 10,000 people across
63 countries worldwide.
The global distribution agreement grants Vestas certain
exclusive rights over the sale and marketing of the Windar 2-beam
LiDAR products for specific wind turbine platforms in each
individual regional market and is primarily directed towards
Vestas' multibrand fleet under service.
The 2-beam LiDAR system is a yaw-optimisation solution that can
increase annual energy production by 1-4% for the asset owner by
ensuring that the wind turbine is always facing the optimal
direction for harnessing the wind. The LiDAR optimisation solution
will be offered to a wide range of turbine platforms within the
retro-fit market segments, thus providing a means for improving the
performance of existing wind turbines.
Mariel Garrido, Head of Fleet Optimization at Vestas, commented:
"We are committed to year on year provide our service customers
with new technology options for optimising the energy production
from their existing assets. We have chosen to work with Windar
Photonics' LiDAR technology primarily to cover our serviced
multibrand fleet due to its ability to deliver a combination of
value for money, proven performance, ease of installation and
service and limited interference with the turbine."
Jørgen Korsgaard Jensen, Chief Executive Officer of the Company,
commented: "Following our strategic change in 2016 to utilise
external distribution partners for the sale and promotion of our
LiDAR products in retrofit markets, I am very pleased that Windar
is now entering into this global agreement with Vestas. Our 2-beam
nacelle-based LiDAR systems will now be made available to the
global marketplace as part of Vestas' portfolio of service
products.
Over the last year Windar has experienced a continually
increasing market interest for our products and coupled with
Vestas' global distribution capabilities, I am confident this
agreement with Vestas can materially boost our global market
presence within the retro-fit markets."
For further information:
Windar Photonics plc Jørgen Korsgaard Jensen, CEO +45 2423 4930
Cantor Fitzgerald Europe David Foreman
Nominated Adviser and Broker Richard Salmond +44 (0)20 7894 7000
About Windar:
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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END
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