(Alliance News) - Sabien Technology Group PLC on Friday said it had won an order for a carbon dioxide mitigation device from the UK government.
The London-based technology company, focused on the heating, cooling and transportation sectors, said the CO2 mitigation device is valued at GBP246,000, which will be invoiced in March.
Sabien Technology said two thirds of the order will be recognized as revenue in 2023. It is a repeat order, the company said.
Since its last trading update in late October 2022, Sabien has won orders with a value totalling over GBP430,000, the firm said. This translates to a total of GBP507,000 in order value for the year to date, nearly double the GBP256,000 in the comparable period a year before.
Looking ahead, the company said that while it cannot guarantee whether it will secure additional orders, it continues to "advance negotiations for further repeat orders".
Shares in Sabien were up 2.8% at 10.13 pence in London on Friday morning.
By Sabrina Penty; Alliance News reporter
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Sabien Tech. (SNT)