Windar Photonics PLC New Chinese Order and Covid-19 Update (8868K)
27 Abril 2020 - 1:00AM
UK Regulatory
TIDMWPHO
RNS Number : 8868K
Windar Photonics PLC
27 April 2020
27 April 2020
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")
New Chinese order and Covid-19 update
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 the Company has received another order for 30 WindVision(TM)
systems to be delivered in 2020.
30 WindVision(TM) will be delivered and installed on new
DongFang turbines in China, integrated into their control system
and used as part of their control strategy to optimise loads and
power gains.
Also, the first 50 WindVision(TM), as part of the order for 100
WindVision(TM) to be installed on CNR wind turbines (as previously
announced on 21 January 2020), is scheduled for delivery in May
2020 as originally planned.
Throughout the Covid-19 period, Windar has maintained production
and its delivery schedule to customers without any delays to date.
However, due to the high degree of uncertainty relating to Covid-19
across both Europe and also China the Company has initiated a
series of cost savings including that all employees of the Company
have accepted a salary reduction of 20% on monthly salaries in
excess of EUR 2,700.
Martin Rambusch, General Manager, commented: "I am very pleased
that Windar is still obtaining orders in China despite the Covid-19
situation, and we are pleased to have been able to organise our
production, during the Covid-19 period, in a way that has enabled
us to meet delivery schedules previously agreed with our customers.
Many of our staff are successfully working from home and servicing
our customers online to complement our production teams. Despite
this I am very proud of the unified acceptance shown by all
employees to the voluntary salary reduction in this uncertain
period. This act will further strengthen the Company's working
capital position and better enable it to address Covid-19 caused
issues affecting Windar."
For further information:
Windar Photonics Martin Rambusch, General Manager +45 21689476
Cantor Fitzgerald Europe David Foreman (Corporate Finance)
Nominated Adviser and Broker Keith Dowsing (Sales) +44 (0)20 7894 7000
The person responsible for arranging the release of this
announcement on behalf of Windar is Martin Rambusch.
About Windar:
Windar Photonics is a technology group that develops
cost-efficient and innovative Light Detection and Ranging ("LiDAR")
optimization 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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