

Announcements.

Looking to discover a little more about our client companies?
A selection of news and recent announcements can be found here.
Immotion Group PLC : Admission and First Day of Dealings
RNS Number : 3765U Immotion Group PLC 12 July 2018 12 July 2018 Immotion Group PLC Admission and First Day of Dealings Placing to raise £5.75 million Immotion Group Plc ("Immotion Group" or the "Group"), the UK-based immersive virtual reality ("VR") 'Out of Home' entertainment business,……
RNS Number : 3765U
Immotion Group PLC
12 July 2018
12 July 2018
Immotion Group PLC
Admission and First Day of Dealings
Placing to raise £5.75 million
Immotion Group Plc ("Immotion Group" or the "Group"), the UK-based immersive virtual reality ("VR") 'Out of Home' entertainment business, is pleased to announce that the Admission and trading of its Ordinary Shares will take place today at 8.00am on the AIM market of the London Stock Exchange ("AIM"). The Company will be trading under the ticker symbol IMMO.
Highlights
· £5.75 million gross proceeds raised through the placing of 57,500,000 new Ordinary Shares at 10p per share, in a significantly oversubscribed placing through WH Ireland Ltd and Shard Capital Partners LLP – the number of ordinary shares in issue will be 195,351,590
· Upon Admission, the Group will have a market capitalisation (at the Placing price of 10p per Ordinary Share) of approximately £19.54m
· Funds will be used to implement Immotion Group's strategy to become a leading participant in the 'Out of Home' VR experience market by creating and publishing high quality VR content and combining it with its VR motion platforms to create truly immersive experiences
· The 'Out of Home' VR experience market is forecast to grow eight-fold to $8bn by 2022
· Immotion generates revenues through the delivery of high quality "state of the art" VR experiences, combined with cutting edge motion platforms to consumers at an affordable price point through a range of routes:
o Sales – sale of VR Motion Platforms to Leisure and Entertainment operators provide the opportunity for the operator to drive substantial ancillary revenues
o Concession partners – currently installed at Merlin Entertainments' Lego Discovery Center in Boston, USA and Genting Resorts World in Birmingham, with further sites under agreement – this channel provides an opportunity for its partners to earn ancillary revenues, as well as providing an exciting additional attraction to their facilities
o Owned and franchised outlets, trading as Immotion VR, located in high footfall shopping centres – first retail store in Bristol (opened in December) has seen growing revenues, and has enjoyed 100% 5* reviews on TripAdvisor
· "Create, Publish and Distribute" model – Immotion Group's award winning creative studios are creating exciting VR content for its motion platforms, published using its proprietary Content Management System
· Established by Martin Higginson and David Marks, two highly experienced technology and media entrepreneurs, with Sir Robin Miller as Chairman
Martin Higginson, Chief Executive Officer of Immotion Group, said: "In combining award-winning storytelling, CGI production and precise motion synchronisation, Immotion Group can deliver experiences that are not easily replicable in the 'in home' market. We have already experienced a very positive reaction from consumers, many of whom are trying VR for the first time, and from business partners who see the strong potential for our VR platforms to provide a new revenue opportunity.
"The five star reviews received from our retail customers, along with the early sales of motion platforms and a successful launch experienced by our Concession Partner, Merlin Entertainments' Lego Discovery Center in Boston, have given us confidence in the market and our strategy to deliver on the opportunity. We believe that this IPO will enable us to build momentum and achieve our goal to build the business across the UK, Europe and USA in what is an exciting, fast growing market."
To view the Company's Admission Document, please visit: https://immotion.co.uk/
Enquiries:
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Immotion Group |
Martin Higginson |
Tel: +44 (0) 161 235 8505 |
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WH Ireland Limited (Nomad and Joint Broker) |
Adrian Hadden Jessica Cave |
Tel: +44 (0) 207 220 1666 |
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Shard Capital Partners LLP (Joint Broker) |
Damon Heath Erik Woolgar |
Tel: +44 (0) 20 7186 9900 |
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Redleaf Communications (Financial PR) |
Elisabeth Cowell Robin Tozer Ian Silvera |
Tel: +44 (0) 20 3757 6880 |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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CloseNeville Registrars welcomes Immotion Group PLC
Neville Registrars is delighted to welcome Immotion Group PLC as the newest addition to its list of client companies. Immotion Group provide customers with immersive ‘out-of-home’ VR experiences. Further information can be found on the Company's website: https://immotion.co.uk/…
Neville Registrars is delighted to welcome Immotion Group PLC as the newest addition to its list of client companies.
Immotion Group provide customers with immersive ‘out-of-home’ VR experiences.
Further information can be found on the Company's website: https://immotion.co.uk/
CloseNeville Registrars welcomes Ecopilot (NI) Limited
Neville Registrars is delighted to welcome Ecopilot (NI) Limited as the newest addition to its list of client companies. Further information can be found on the Company's website: http://www.ecopilot.co.uk/…
Neville Registrars is delighted to welcome Ecopilot (NI) Limited as the newest addition to its list of client companies.
Further information can be found on the Company's website: http://www.ecopilot.co.uk/
CloseEU Supply PLC : Contract win
RNS Number : 1047T EU Supply PLC 29 June 2018 RNS Reach 29 June 2018 EU Supply plc ("EU Supply", the "Company" or the "Group") Contract win EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that it has signed its fifth contract……
RNS Number : 1047T
EU Supply PLC
29 June 2018
RNS Reach
29 June 2018
EU Supply plc
("EU Supply", the "Company" or the "Group")
Contract win
EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that it has signed its fifth contract pursuant to the framework agreement entered into with an existing customer (the "Customer") for additional services to its CTMTM platform announced by the Company on 16 June 2017 (the "Agreement").
This contract comprises certain customer-paid enhancements, which are expected to generate revenues of approximately €70k during the remainder of this year.
Discussions are continuing with the Customer on further specific call-off orders for additional services to be delivered in 2018.
FURTHER ENQUIRIES
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A copy of this announcement is available at www.eu-supply.com.
Notes to Editors
EU Supply is the UK holding company of the EU Supply Group, a Sweden-based e-commerce business, which has an established, market-leading, multilingual e-procurement platform for e-sourcing, e-tendering and contract management, tailored for the highly regulated European public sector market.
Since 2006, the Group has invested heavily in employing specialist programmers to add functionality, legal compliance as required and security features to its Complete Tender Management™ ("CTM™") platform to ensure that the Group is ideally placed to secure new contracts with EU Member States and their Contracting Authorities. The platform is available in 16 different languages.
The Directors believe that the Group's CTM™ platform is one of the easiest to use and most functionally advanced solutions available in the market. The CTM™ platform is used by over 8,000 European public sector bodies in 9 EU/EEC Member States and has National Procurement System status in four Member States (the UK, Ireland, Norway and Lithuania).
The Company's shares were admitted to trading on AIM in November 2013. In August and September 2015, the Company raised a total of £2.061m (before expenses) through a placing of new shares and the issue of first and second tranches of Convertible Loan Notes to institutional and other investors. On 25 May 2018, the Company announced that it had raised a further £600k (before expenses) through a placing and subscription of new shares.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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CloseTrakm8 Holdings PLC : Contract Extension Award
RNS Number : 6392S Trakm8 Holdings PLC 27 June 2018 For immediate release 27 June 2018 Trakm8 Holdings plc ('Trakm8' or the 'Group') Contract Extension Award Trakm8 Holdings plc (AIM: TRAK), a leading telematics and data supplier to global markets, is pleased to announce……
RNS Number : 6392S
Trakm8 Holdings PLC
27 June 2018
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For immediate release |
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27 June 2018 |
Trakm8 Holdings plc
('Trakm8' or the 'Group')
Contract Extension Award
Trakm8 Holdings plc (AIM: TRAK), a leading telematics and data supplier to global markets, is pleased to announce that it has extended an agreement to supply FMG Ltd, the UK's leading independent provider of Fleet Incident Management and Specialist Vehicle Recovery services, with telematics-based services for a further three years.
Trakm8 currently provides telematics-based services for approximately 5,000 FMG vehicles.
FMG's 'Ingenium Dynamics' Driver Behaviour Telemetry solution uses Trakm8's telematics devices to extract raw driver behaviour data from vehicles. This data is then fed into FMG's system to create risk profiles for each of its customers.
John Watkins, Executive Chairman at Trakm8, said: "Trakm8 has been working with FMG since 2014 when we shipped our first units and this has subsequently increased to about 5,000 FMG vehicles. This is a great example of how the stickiness of our products enables Trakm8 to grow with its clients and subsequently increase the number of connections. We look forward to continuing our successful relationship with FMG going forwards."
Harvey Stead, Commercial Director at FMG, said: "There is a strong appetite for improving driver behaviour as more fleet decision-makers recognise the benefits of running a flexible, safe and efficient fleet operation. By working in close partnership with Trakm8, FMG are able to provide a technologically advanced solution which ultimately optimises driver safety and reduces incident frequency and severity."
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For further information:
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Trakm8 Holdings plc |
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John Watkins, Executive Chairman |
Tel: +44 (0) 167 543 4200 |
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Jon Furber, Finance Director |
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Arden Partners plc (Nominated Adviser & Broker) |
Tel: +44 (0) 20 7614 5900 |
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Paul Shackleton / Alex Penney |
Media enquiries:
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Buchanan |
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Chris Lane / Tilly Abraham |
Tel: +44 (0) 20 7466 5000 |
About Trakm8
Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group analyses data collected by its installed base of telematics units to fine tune the algorithms that are used to produce its' solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.
The Group's product portfolio includes the latest data and reporting portal (Trakm8 Insight), integrated telematics/cameras, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 250,000 connections.
Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Iceland Foods, Direct Line Group and Young Marmalade.
Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.
www.trakm8.com / @Trakm8
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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CloseWater Intelligence : Joint Technology Development Agreement
RNS Number : 5286S Water Intelligence PLC 26 June 2018 Joint Technology Development Agreement and Expansion of Municipal Services Water Intelligence plc ("Water Intelligence" or the "Group") (AIM: WATR.L), a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water……
RNS Number : 5286S
Water Intelligence PLC
26 June 2018
Joint Technology Development Agreement and Expansion of Municipal Services
Water Intelligence plc ("Water Intelligence" or the "Group") (AIM: WATR.L), a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water is pleased to announce an exclusive joint development agreement with Reece Innovation Centre Limited ("RIC"). RIC is a manufacturing and innovation company headquartered in the UK. The Group and RIC plan to develop a range of proprietary, leading edge technology products under the Water Intelligence brand for the municipal services market. RIC also will provide Water Intelligence with preferred manufacturing capabilities that the Group needs in order to grow its solutions offerings worldwide. Such new technology product capabilities reinforce the strong growth trajectory of the Group's municipal services business – Water Intelligence International ("WII") – to be detailed in the Group's 1H market update.
The first product being launched under the Joint Development Agreement is a ruggedized and water proof acoustic device that rapidly assesses the condition of sewer pipes and identifies the location of blockages with greater precision than available in the market. The product is currently being tested at a major water utility in the UK. Water Intelligence plans to combine the product's acoustic capabilities with video technology and artificial intelligence provided by its Tagasauris partnership, announced earlier this year, to provide technology leadership to the municipal market.
The Joint Development Agreement is the next step in the Group's strategy to expand its municipal services business under the WII brand, first across the Group's current sales footprint in the US, UK, Australia and Canada and then into new geographies as the problem of crumbling water infrastructure, especially in urban areas, is a world-wide problem.
The Group's plan is to leverage the substantial market presence of its American Leak Detection ("ALD") residential and commercial subsidiary across the US and Australia to sell additional municipal services from WII in those serviced localities. Earlier this year, the Group announced such commercial expansion in Australia with respect to Hunter Water. During 1H, WII also won several additional contracts in different states of the US – Maryland, Michigan, Missouri and Virginia. Such additional contracts are accretive as they would not have been executed by ALD given sharply increasing demand for its higher margin solutions for the residential and commercial markets. During 1H, WII has also led the way in opening new markets for the Group with contract wins in Ireland and Romania. Ultimately, these new territories may be converted into residential and commercial opportunities under the ALD brand. Cross-selling between ALD and WII contributes to the Group's growth in a more efficient way.
Commenting, Dr Patrick DeSouza, Executive Chairman of Water Intelligence, stated:
"The Joint Development Agreement provides the Water Intelligence brand with a leading-edge product to sell and a manufacturing capability for more technology products to supplement our service offerings. We are excited by the opportunities to fuel further growth with Reece Innovation Centre. This transaction delivers against one of the three operating priorities for 2018-2019 identified in our recently released Annual Report. As noted in the Chairman's Statement from that Report, 'since our business solutions DNA always has been focused on the use of technology, especially acoustic and infrared, we will continue to enhance our technology profile through new product partnerships and investments in cutting-edge solutions for our customers.'"
Commenting, Alistair Kitching, Operations Manager of Reece Innovation, stated:
"Reece Innovation is delighted to be partnering with Water Intelligence, a forward thinking and rapidly growing international company which shares our ambition to develop novel, leading edge technologies to tackle real-world problems. Reece Innovation work in partnership with industry leading stakeholders to develop engineering solutions across a wide range of highly diverse sectors, and Water Intelligence's specialist water sector knowledge, combined with Reece Innovation's world class research and development, production and manufacturing facilities, make this a particularly valuable alliance for both parties. We very much look forward to working closely with Water Intelligence in order that both parties achieve their objectives and meet their ambitious growth targets."
For further information about this announcement please contact:
Water Intelligence plc Patrick DeSouza, Executive Chairman Tel: +1 203 654 5426
finnCap Ltd Adrian Hargrave / Giles Rolls (Corporate Finance)
Stephen Norcross (Corporate Broking) Tel: +44 020 7220 0500
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
END
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CloseImaginatik PLC : Contract Win
RNS Number : 1768S Imaginatik PLC 22 June 2018 22 June 2018 Imaginatik plc ("Imaginatik" or "the Company") Contract win Imaginatik plc (AIM: IMTK.L), the #1 ranked leader in corporate innovation management according to Forrester Research, today announces it has signed a contract with a leading……
RNS Number : 1768S
Imaginatik PLC
22 June 2018
22 June 2018
Imaginatik plc
("Imaginatik" or "the Company")
Contract win
Imaginatik plc (AIM: IMTK.L), the #1 ranked leader in corporate innovation management according to Forrester Research, today announces it has signed a contract with a leading European wine producer.
The customer is one of the leading, award-winning wineries of the world. It has selected Imaginatik's Innovation Central as a key tool to assist in developing and deploying its growth strategies, in concert with engaging its employees. The nature of the wine industry requires continual new thinking to address a wide range of complex issues from consumer trends to climate and sustainability.
Shawn Taylor, Chief Financial Officer of Imaginatik plc, said, "We are very proud to have been selected as this award-winning winery's change and innovation partner and to have the opportunity to contribute to its ongoing success. It is an early success in our sales team's drive to expand deeper into additional territories. The cloud-based nature of our software means that it is deployable anywhere in the world, and with the majority of our revenue being derived from the US we have a proven ability to support international customers."
For further information please contact:
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Imaginatik plc |
Tel: 01329 243 243 |
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Shawn Taylor, CFO |
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finnCap Ltd – Nomad and broker |
Tel: 020 7220 0500 |
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Jonny Franklin-Adams/Max Bullen-Smith, corporate finance |
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Camille Gochez, corporate broking |
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Peterhouse Capital Limited – Joint broker |
+44 (0) 20 7220 9797 |
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Duncan Vasey / Lucy Williams |
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Alma PR |
Tel: 020 8004 4218 |
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Caroline Forde / Robyn Fisher |
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About Imaginatik
Imaginatik is the only innovation solution provider which has combined a proven innovation program with purpose-built idea management software to enable companies to achieve breakthrough and continuous innovation at scale. Imaginatik works with leading global enterprises to build and integrate innovation management skills as a core competency. Customers include ExxonMobil, Altria, Shell, Goodyear, AECOM, Caterpillar, Novartis and Cargill.
Imaginatik is a public company traded on the AIM market of the London Stock Exchange (LSE: IMTK.L) with offices in Boston, MA, USA and Fareham, U.K.
For more information visit www.imaginatik.com.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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CloseTrakm8 Holdings PLC : International Contract Award
RNS Number : 0476S Trakm8 Holdings PLC 21 June 2018 For immediate release 21 June 2018 Trakm8 Holdings plc ('Trakm8' or the 'Group') International Contract Award Trakm8 Holdings plc (AIM: TRAK), a leading telematics and data supplier to global markets, is pleased to announce that……
RNS Number : 0476S
Trakm8 Holdings PLC
21 June 2018
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For immediate release |
21 June 2018 |
Trakm8 Holdings plc
('Trakm8' or the 'Group')
International Contract Award
Trakm8 Holdings plc (AIM: TRAK), a leading telematics and data supplier to global markets, is pleased to announce that it has reached an agreement to supply Intelematics Australia Pty Ltd ('Intelematics Australia') with telematics based services.
The contract, initially for three years, provides Intelematics Australia with data, including automotive diagnostics, and a 4G self-fit on-board diagnostic ('OBD') device. It is believed that this is the first 4G OBD device to meet the requirements of the Australian Cat M1 networks. The demand over the three year period is expected to amount to circa 40,000 connections.
Intelematics Australia is a subsidiary of the Royal Automobile Club of Victoria and a lead partner in the Intelematics Europe joint venture with which Trakm8 has an existing contract, as announced on 31 August 2017.
John Watkins, Executive Chairman of Trakm8, said: "This contract with Intelematics Australia is another good example of Trakm8 developing a market leading data service and device and successfully taking it into international markets with new partners. We look forward to working with Intelematics Australia in the years ahead."
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For further information:
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Trakm8 Holdings plc |
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John Watkins, Executive Chairman |
Tel: +44 (0) 1675 434 200 |
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Jon Furber, Finance Director |
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Arden Partners plc (Nominated Adviser & Broker) |
Tel: +44 (0) 20 7614 5900 |
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Paul Shackleton / Alex Penney |
Media enquiries:
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Buchanan |
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Chris Lane / Tilly Abraham |
Tel: +44 (0) 20 7466 5000 |
About Trakm8
Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group analyses data collected by its installed base of telematics units to fine tune the algorithms that are used to produce its' solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.
The Group's product portfolio includes the latest data and reporting portal (Trakm8 Insight), integrated telematics/cameras, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 250,000 connections.
Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Iceland Foods, Direct Line Group and Young Marmalade.
Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.
www.trakm8.com / @Trakm8
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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CloseVerditek PLC : Successful First Stage CO2 Capture Test for WES
RNS Number : 0333R Verditek PLC 12 June 2018 Verditek PLC ("Verditek" or the "Company") Successful First Stage CO2 Capture Test for WES Verditek plc, (AIM: VDTK), the clean technology company, is pleased to update shareholders that Westec Environment Solutions ("WES"), in which it is a……
RNS Number : 0333R
Verditek PLC
12 June 2018
Verditek PLC
("Verditek" or the "Company")
Successful First Stage CO2 Capture Test for WES
Verditek plc, (AIM: VDTK), the clean technology company, is pleased to update shareholders that Westec Environment Solutions ("WES"), in which it is a major investor, is moving into large scale CO2 carbon capture testing, marking a significant milestone on its route to commercialisation.
SINTEF, Westec Environmental Solutions and CMC Research Institutes' Carbon Capture and Conversion Institute are working together on the INSPiRE project, to demonstrate the use of a proprietary precipitating solvent developed by SINTEF in the WES Regenerative Froth Contactor (RFC). Completion of the first stage-gate included testing the solvent and RFC absorber at the SINTEF lab.
All required criteria were met, and the Steering Committee approved proceeding to the next stage, to include testing at the larger scale Tiller pilot plant in Trondheim, Norway. Particulars of the first stage of work will be presented at the GHGT-14 conference in Melbourne, Australia in October 2018.
The RFC technology developed at WES opens the door to significant size reductions and cost savings for post-combustion CO2 capture applications or H2S scrubbing of natural gas production. WES' RFC technology will be used in the oil and gas sector, fine chemicals, pharma and cement production.
Geoff Nesbitt, CEO of Verditek plc said:
"Working with SINTEF has been a privilege for WES. As one of Europe's largest independent research organisations, and extremely well regarded by industry, SINTEF brings world-leading expertise and credibility to bear in any project. This is an important milestone in testing our technology and marks a significant step towards commercialisation. The results help validate the years of testing in our own pilot plant, as we move diligently towards delivering a new technology that can help make CO2 and H2S removal from any gas stream more economic to adopt. In this way we hope to help organisations comply with the global COP21 accord, and the IMO clean fuel initiatives.
Verditek remains dedicated to commercialising innovative clean technologies that can deliver significant competitive advantage compared to conventional industrial and residential solutions."
Enquiries:
Verditek plc
Geoffrey Nesbitt, CEO +44 (0) 20 7129 1110
Stockdale Securities Limited (NOMAD and Broker)
Antonio Bossi / David Coaten + 44 (0) 20 7601 6100
Strand Hanson Limited (Financial Adviser)
James Harris / Ritchie Balmer / Jack Botros +44 (0) 20 7409 3494
Whiteoaks International
Mary Fitzgerald +44 (0) 7795 284440
Bekki Bushnell + 44 (0) 7841 698586
About Verditek
Verditek plc (AIM: VDTK), the clean technology company is headquartered in London. Verditek is dedicated to commercialising proven technology that can deliver significant competitive advantage compared to conventional industrial solutions. From light-weight solar modules, cutting edge de-odourisation, and ground-breaking CO2 capture, Verditek is realising tomorrow's technologies today.
For further information, please visit www.verditek.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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CloseSolid State PLC : ?4.3m Smart Warehouse Power Units Contracts
RNS Number : 8589Q Solid State PLC 11 June 2018 Solid State plc ("Solid State", the "Group" or the "Company") £4.3m robotics power unit contracts with a major UK technology smart warehouse solutions provider and robotics manufacturer Solid State plc (AIM: SOLI), the AIM listed manufacturer……
RNS Number : 8589Q
Solid State PLC
11 June 2018
Solid State plc
("Solid State", the "Group" or the "Company")
£4.3m robotics power unit contracts
with a major UK technology smart warehouse solutions provider and robotics manufacturer
Solid State plc (AIM: SOLI), the AIM listed manufacturer of computing, power and communications products, and value added distributor of electronic components, is pleased to announce it has received orders to supply power units for autonomous robots operating in cold climate conditions with a combined value of £4.3m.
Solid State was commissioned to design and supply the bespoke power units for the end customer's smart warehouses based on its knowledge of harsh environment applications for battery power solutions developed over 20 years. Working closely with the end customer and the robot manufacturer, Solid State was able to satisfy the design and durability specifications to deliver a product that will stand the demands of the modern 24/7 fast moving consumer goods fulfilment cycle. The power units have been designed and will be supplied from Solid State's centre of excellence for batteries established at their Power business unit in Crewkerne, Somerset.
The smart warehousing model is considered by many to be the solution in addressing the increasing demand for online and home delivery based shopping. Through the use of autonomous robots, a round the clock fulfilment function can be maintained, shortening delivery cycles and reducing cost in the retail supply chain.
Deliveries of the power units are expected to commence during the second half of the fiscal year 2018/2019, contributing to the current financial year and will continue into the next financial year. The contract will deliver additional recurring revenues through the supply of replacement cells in subsequent years as part of a support and maintenance agreement.
Commenting on the contract, Gary Marsh, Chief Executive at Solid State, said:
"This contract establishes Solid State as a leading innovator in the fast-evolving distribution and fulfilment technology market.
"Solid State's in-depth knowledge of battery chemistries and harsh environment characteristics give it a unique position for partnering with customers as an embedded solutions developer. Our intention is to develop a longer term collaboration with this customer."
Notice of Results and Investor Lunch:
Final results for the 12 months ended 31 March 2018 are expected to be released on 3 July 2018.
An investor lunch for Private Client Investment Managers and Private Investors will be held on Monday 9 July at St Pauls, London. Those interested in attending should contact Tom Cooper on 0797 122 1972 or [email protected].
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information please contact:
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Solid State plc |
01527 830 630 |
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Gary Marsh – Chief Executive Peter James – Group Finance Director |
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WH Ireland (Nominated Adviser & Joint Broker) |
0117 945 3470 |
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Mike Coe / Ed Allsopp (Corporate Finance) Jasper Berry / David Kilbourn (Corporate Broking / Sales)
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finnCap (Joint Broker) Ed Frisby / Kate Bannatyne (Corporate Finance) Emily Morris / Rhys Williams (Corporate Broking / Sales) |
020 7220 0500 |
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Walbrook PR (Financial PR) |
020 7933 8780 |
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Tom Cooper / Paul Vann |
0797 122 1972 |
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Notes to Editors:
Solid State plc (SOLI) is a leading value added group of companies providing specialist design-in and manufacturing services to those acquiring computing, power and communications products and electronic component services for use in harsh environments.
Serving niche markets in oil & gas production, medical, construction, security, military and field maintenance, Solid State acts as both a component supplier to OEMs and bespoke manufacturer of specialist units to clients with complex requirements.
Headquartered in Redditch, Solid State employs over 200 staff across five sites. Solid State operates through two main divisions: Solid State Supplies and Steatite.
Solid State was established in 1971 and admitted to AIM in June 1996.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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Close
Neville Registrars Limited, Neville House, Steelpark Road, Halesowen, B62 8HD
Tel: 0121 585 1131
Email: info@nevilleregistrars.co.uk

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