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Windar Photonics PLC boosted by new Chinese order

Last updated: 06:07 05 Apr 2016 EDT, First published: 03:36 05 Apr 2016 EDT

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The order represents an important milestone, says CEO Martin Rambusch.

Windar Photonics PLC (LON:WPHO) shares advanced in Tuesday’s early deals after it revealed it had won a new Chinese order to be delivered in April.

The order is for 15 WindEYE™ LiDAR units, the company’s laser guided systems that sit on the top of turbines and enable positioning to be optimised for prevailing wind conditions.

These units will be installed to Goldwind turbines that are already in operation, and that is expected to happen in the second quarter.

"We are very pleased with the progress being made in multiple markets due to the flexibility which our LiDAR product offers in terms of both retrofit or new turbine deployment to asset owners,” said Martin Rambusch, Windar chief executive.

“This order is an important milestone for Windar in terms of our market presence in the Chinese Market.

“It is also a significant step forward towards a collaboration with the Chinese Wind Turbine OEMs concerning direct control system integration of Windar's LiDAR units as part of the design stage of wind turbine development."

According to Windar, the WindEYE units increase annual energy production from each wind turbine by 1-4%, and at the same time it reduces costs associated with maintenance and repair.

Windar shares gained 7.5p, or 7.5%, in early deals to trade at 107.5p each.

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