Sabien Tech. Share News (SNT)

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Market Cap: £1.03m

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Sabien Technology gets new order from 'important' client

Mon, 24th Oct 2022 15:38

(Sharecast News) - Sabien Technology updated the market on a new order on Monday, which it received on 21 October from a "strategically important" customer.

The AIM-traded firm said that as part of its strategy of moving to a channel-selling model, it had received a further repeat order from CBRE for multiple installations of its 'M2G Cloud' product across Ericsson's European estate.

As a CBRE approved supplier, Sabien said it had been working directly with the CBRE Enterprise division and the CBRE EMEA Energy & Technical Management team to deliver energy reduction for Ericsson throughout the Europe, Middle East and Africa (EMEA) region.

Its first regional installation earlier in the year was currently delivering a net 12.5% saving, with further installations in Estonia, Rome and Madrid set to "maximise" Ericsson's carbon and operational expenditure savings - "critical" during the Europe-wide energy crisis.

Orders across the first three building installations would exceed £40,000 in the current period, with discussions in progress to ramp up deployment across Ericsson's international estate.

"CBRE is an important partner and Ericsson a flagship end-customer for our M2G technology," said chairman Richard Parris.

"The Sabien sales team have worked tirelessly to build the relationship with CBRE such that they in turn could secure such a technically demanding customer.

"This is evidence of the new generation sales pipeline Sabien has been building for the M2G Cloud platform."

Parris said that as CBRE and other yet-to-be-announced partners gathered momentum, and as the shortage of silicon chips which had been holding back stock of M2G units abated, Sabien's sales volumes were expected to accelerate.

"We have chosen to announce this order only after three repeat orders have been secured because I believe news flow to the market should only be made based on robust evidence of performance."

At 1434 BST, shares in Sabien Technology Group were up 3.96% at 12.73p.

Reporting by Josh White at Sharecast.com.