Business
Expansion of Retro-Fit Capabilities & Appointments
Expansion of Retro-Fit Capabilities & Appointments.
About this update from Windar Photonics Plc
[{"type":"text","content":"\n \nRNS Number : 7577U Windar Photonics PLC 02 April 2019 \n\nThe 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. \n \n2 April 2019\nWindar Photonics plc\n(\"Windar\" or the \"Company\")\n \nSecures Exclusive Licence Agreement to Deliver Turbine Life Expansion and Extreme Load Reduction \n And Appointments of COO and Sales Manager\n \nWindar 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 it has entered into an exclusive agreement with The Technical University of Denmark (\"DTU\") to expand the capabilities of Windar's retro-fit products. The Company is also pleased to announce the appointments of a Chief Operations Officer and a Sales Manager, with immediate effect. \n \nExpansion of Retro-Fit Capabilities \n \nDTU has begun the implementation of an innovative software solution into Windar's products. This software solution is expected to mitigate extreme loads on installed wind turbines without requiring changes to be made to the existing controller systems. This will be licensed to Windar on an exclusive basis and will complement Windar's existing Yaw alignment optimisation technologies featured in its wind turbine retro-fit product portfolio, including WindEyeTM and WindTimizerTM. These products are already recognised as leading solutions to the retro-fit market - supplying 10 of the top 25 global Independent Power Producers (\"IPPs\") in the market - due to their ability to increase annual energy production by 1-4%. \n \nBased on work already conducted, DTU estimates that it can deliver extreme load reductions of between 5 per cent and 10 per cent. This can increase the expected operational lifetime of a wind turbine by a similar amount. \n \nThe Company anticipates that the new software will be launched during 2020 and will feature as an optional software upgrade in new and existing WindEye™ installations. \n \nManagement Appointments\n \nMs. Hong Song De-Beer, who has extensive experience of managin...