(Sharecast News) - Specialist engineering group Pressure Technologies has secured a significant contract to supply nitrogen storage solutions to EDF Energy's nuclear power plants in the UK.
Pressure Technologies' wholly-owned subsidiary, Sheffield-based Chesterfield Special Cylinders, will design and supply ultra-large high-pressure cylinders in a series of nitrogen storage packages to meet EDF's operational requirements.
The contract, valued at more than £3m, will see the AIM-listed firm supply the cylinder packages to EDF by mid-2020.
Chief executive Chris Walters said: "This contract represents the largest order in Chesterfield Special Cylinders' history outside of the defence sector and is extremely important for the Chesterfield team and for the Pressure Technologies Group.
"Through the provision of these safety-critical systems, we are delighted to be supporting EDF Energy's existing and continued commitment to supply safe, low-carbon electricity to UK homes."
As of 0850 BST, Pressure Technologies shares had climbed 7.88% to 105.18p.
Pressure Tech (PRES)14 Mar 2024 16:46
Pressure Technologies positive as subsidiary secures "major" contracts
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