Last checked at 13 Jul 2010 15:41
13 July 2010
(AIM: CINP)
CINPART PLC
("Cinpart" or "the Company")
New Contract Wins
Cinpart, which supplies cutting-edge voltage optimisation technology to reduce the energy consumption and CO₂ emissions of commercial buildings, is pleased to announce that it has secured new sale contracts for its voltage optimisation product, VoltageMaster, together worth approximately £375,000.
These orders are for the supply of VoltageMaster units to five prisons across the UK. It is particularly encouraging that the contracts have been won under the framework agreement announced in September 2009 with members of the Eastern Shires Purchasing Organisation ("ESPO"), a local authority purchasing consortium which Government departments are able to use to simplify their purchasing process The units are now under construction and installation, which will be carried out by Cinpart's strategic partner, Southern Electric Contracting Ltd ("SEC"), is expected to be completed by the end of September 2010.
The Company is pleased to announce that these sales have been generated as a direct result of the strategic relationship with SEC. Following the initiation of a formal training programme for SEC's sales and installation staff, in the last month, SEC has generated a number of orders worth a total value in excess of £150,000. SEC will install these units and will then invoice each customer directly for the sale and installation services.
Kevin Baker, Chief Executive of Cinpart, commented,
"Active Energy's voltage optimisation technology offers an innovative solution to cutting energy consumption and CO₂ emissions. It is pleasing to see the agreements in place, both with ESPO and our strategic partner, SEC, bearing fruit and we are confident that the growth potential for our product remains significant."
Enquiries:
| Cinpart Plc |
|
| Kevin Baker, Chief Executive Christopher Foster, Executive Director
| Tel: 020 3176 3033 Tel: 020 3176 3031
|
| Merchant Securities Limited (Nominated Adviser) |
|
| John East/Simon Clements | Tel: 020 7628 2200
|
| Jendens Securities Ltd (Joint Broker) |
|
| Kim Richardson
| Tel: 0203 372 2500 |
| Rivington Street Corporate Finance Ltd (Joint Broker) |
|
| Peter Greensmith
| Tel: 020 7562 3370 |
| Biddicks (Financial PR) |
|
| Sophie Lane | Tel: 020 7448 1000 |
About Cinpart
Cinpart plc (AIM: CINP) is a holding company that owns 72.2 per cent. of Active Energy Limited. Active Energy manufactures and supplies the VoltageMaster, a device that can reduce electricity consumption in commercial buildings by up to 20 per cent.
Other wholly owned subsidiaries in the Group include Derlite Co Limited; based in Thailand, this company is an international manufacturer of electrical and non-electrical components specializing in ignition systems for gas appliances and Gasignition Limited; a trading company supplying electrical components to small and medium-sized European gas appliance manufacturers.
About Active Energy
Active Energy owns the rights, intangible assets and intellectual property of VoltageMaster, a range of voltage optimisation equipment for commercial buildings that reduces voltage, and consequently energy consumed, by up to 20 per cent. The VoltageMaster, a sophisticated, easy to install device that is adaptable to complement existing infrastructures, optimises the voltage used in a building by adjusting the electricity voltage supplied to the whole building. In addition, the reduced energy consumption produced by the VoltageMaster provides reduced carbon emissions.