Business
Vestas Global Distribution Agreement
Vestas Global Distribution Agreement.
About this update from Windar Photonics Plc
[{"type":"text","content":"\n \nRNS Number : 9075S Windar Photonics PLC 28 June 2018 \n\n \n28 June 2018\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 \n \nWindar Photonics plc\n(\"Windar\" or the \"Company\")\n \nGlobal Distribution Agreement with Vestas\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 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.\nWith 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.\nThe 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.\nThe 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.\nMariel 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, pro...