Pressure Tech Regulatory News (PRES)

The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, ("MAR"), and is disclosed in accordance with the Group's obligations under Article 17 of MAR. Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.

28 January 2025

Pressure Technologies plc

("Pressure Technologies" or "the Group")

Defence Contract Placement

Pressure Technologies plc (AIM: PRES), the specialist engineering group, is pleased to announce that Chesterfield Special Cylinders ("CSC"), its wholly owned subsidiary, has been awarded a strategically significant contract to supply safety-critical pressure vessels to the US defence prime contractor, General Dynamics Electric Boat ("GDEB"), the company responsible for the design, construction and lifecycle support of submarines for the US Navy.

The contract award covers supplier qualification and the delivery of pressure vessels to GDEB in the first quarter of 2026, underpinning overseas defence order book development for CSC in FY25 and FY26.

This is the first contract placed by GDEB with CSC and provides a foundation for future growth and development in the US naval defence market, where ongoing nuclear submarine new construction programmes are planned to run through to 2043.

Chris Walters, Chief Executive of Pressure Technologies, commented:

"I am delighted to confirm the first contract award for Chesterfield Special Cylinders to deliver safety-critical pressure vessels to US prime defence contractor, General Dynamics Electric Boat, the company responsible for the design, construction and lifecycle support of submarines for the US Navy.

We are excited by this opportunity to further demonstrate the global capabilities of Chesterfield Special Cylinders in the defence sector and as a basis to expand the supply of specialised pressure vessels to US submarine new construction programmes over the longer term."

Additional Information

The person responsible for arranging release of this announcement on behalf of the Company is Chris Walters, Chief Executive.

For further information, please contact:

COMPANY DESCRIPTION 

www.pressuretechnologies.com

Pressure Technologies plc is based in Sheffield and operates through its wholly owned subsidiary Chesterfield Special Cylinders ("CSC"). 

CSC is a market leading designer, manufacturer and supplier of safety-critical, high-pressure containment products and services to a global customer base in the defence, hydrogen energy, oil & gas and industrial markets.

For more information on CSC, please visit www.chesterfieldcylinders.com

General Dynamics Electric Boat, established in 1899, has established standards of excellence in the design, construction and lifecycle support of submarines for the U.S. Navy.

For more information on General Dynamics Electric Boat, please visit www.gdeb.com