LONDON (Alliance News) - Energy efficiency company Sabien Technology Group PLC on Tuesday said it expects to complete at least 34 pilots to potential clients in the 2015-16 heating season, with initial signs that a "positive impact" on the sales pipeline is being achieved.
Sabien is undergoing a five-year strategy to improve sales at the company. In order to achieve this, it has been working to significantly scale up large multi-site pilots of its M2G technology by offering free pilots to potential clients in the UK and overseas.
The target for the 2015-16 heating season was to run up 35 pilots compared with eight pilots in 2014-15. On Tuesday, Sabien said it will complete 32 pilots in the UK and two overseas, with a further three to be completed in the UK after the year-end and a further three scheduled to start before the financial year-end overseas.
Ten pilots have been completed so far in the UK, with an estimated pipeline value of GBP3.5 million, and one of the clients has placed an initial order for GBP110,000. The sales pipeline at the end of April stood at GBP7.4 million.
"The group expects to update the market on trading for financial 2016 at the beginning of June. With the results of the 2015-16 pilot programme and the interest already shown in the group's pilot programme for the 2016-17 heating season, the directors are confident that the strategy to return the company to profitability in the 2017-18 financial year is achievable," Sabien said in a statement.
Shares in Sabien were trading up 20% at 6.00 pence on Tuesday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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Sabien Tech. (SNT)