LONDON (Alliance News) - Solid State PLC said Monday it received new orders to supply power units for autonomous robots operating in cold climate conditions worth a total GBP4.3 million.
Shares rose 7.2% on the back of the news, trading at 313.00 pence on Monday morning.
The computing, power and communications products manufacturer said it was commissioned to design and supply the power units for the customer's smart warehouses.
"The smart warehousing model is considered by many to be the solution in addressing the increasing demand for online and home delivery based shopping," Solid State said.
"Through the use of autonomous robots, a round the clock fulfillment function can be maintained, shortening delivery cycles and reducing cost in the retail supply chain."
The company expects to start delivering the power units in the second half to the financial year.
Solid State (SOLI)