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10 Jul 2023 07:00
10 July 2023
FireAngel Safety Technology Group plc
('FireAngel' or the 'Company')
Fifth Development Milestone with Techem Agreement
Further to its announcement of 20 March 2023, FireAngel (AIM: FA.), a leading developer and supplier of home safety products, is pleased to announce that it has successfully delivered the fifth development milestone of its agreement with Techem Energy Services GmbH ("Techem") in connection with the new generation smoke alarm ("NGSA") being developed, primarily for the German market.
The fifth contractual NGSA development milestone, which was delivered on time, sees the project now 52 per cent. complete (up from 45 per cent. complete as at 6 June 2023) on a planned man-days basis. This also sees the electronics development component of the agreement now 95 per cent. complete (up from 91 per cent. complete as at 6 June 2023) and on schedule.
Neil Radley, Chief Executive Officer of FireAngel, commented:
"The Techem partnership remains of significant long-term strategic value to FireAngel and its stakeholders. I am pleased to be able to announce achievement of this latest milestone, which remains on schedule."
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For further information, please contact:
FireAngel Safety Technology Group plc | 024 7771 7700 |
Neil Radley, Chief Executive Officer | |
Zoe Fox, Chief Finance Officer | |
Shore Capital (Nominated adviser and broker) | |
Tom Griffiths/David Coaten/Tom Knibbs | 020 7408 4050 |
Houston (Financial PR) | |
Kate Hoare/Ben Robinson/Kelsey Traynor | 0204 529 0549 |
Notes to Editors
About FireAngel Safety Technology Group plc
FireAngel's mission is to protect and save lives by making innovative home safety products which are simple and accessible. FireAngel is one of the market leaders in the European home safety products market.
FireAngel's principal products are connected smoke alarms, CO alarms, heat alarms and accessories. The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories. Products are sold under FireAngel's leading brands of FireAngel, FireAngel Pro, FireAngel Specification and AngelEye.
For further product information, please visit: www.fireangeltech.com
About Techem
Techem, one of the leading service providers for green and smart buildings, has signed an agreement to develop a new generation alarm primarily for the German market. Techem's focus is on energy efficiency along the entire real estate value chain. It supports over 12 million properties in 19 countries with efficient ways of energy and water consumption and has been doing so for more than 70 years.
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