7 Nov 2017 07:00
Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support Services
7 November 2017
Strat Aero plc ("Strat Aero", the "Company" or the "Group")
Selected as Specialist Surveying Partner by Leading UK Water Sector Services Provider
Strat Aero plc, an international aerospace company focused on the rapidly emerging Unmanned Aerial Vehicle ('UAV') sector, is pleased to announce that its 100% owned subsidiary Geocurve has been selected as a specialist surveying partner by Integrated Water Services Ltd ('IWS'), a leading services provider to the UK water sector. As a specialist surveying partner, Geocurve will provide UAV, bathymetric and conventional surveying services for a number of Monitoring & Evaluation projects which IWS carries out each year as part of its 5+5 Framework Contract with Northumbrian Water worth circa £8-10m per year.
Geocurve, a specialist in providing survey and inspection services using UAVs, as well as using ground- and water-based survey equipment, is already a direct preferred supplier for Northumbrian Water's annual maintenance programmes, having successfully completed multiple surveys over the past year. Being selected by IWS as a partner will increase Geocurve's involvement and revenues from these ongoing programmes, and is in line with the Company's strategy to focus on its key areas of expertise: Survey and Inspection via Geocurve; and its Training and Education Division.
Gary Nel, Managing Director of Geocurve, said: "We are excited to be working in partnership with such a prestigious company as IWS and I believe we will add value to their already exceptional expertise. While working with IWS has the potential to generate revenues in the region of £30k-£60k per year for Geocurve, importantly it further cements our standing as a leading provider of integrated surveying and inspection services, which covers data capture, analysis and modelling. This has already seen Geocurve win high-profile contracts such as the Thames Estuary Asset Management Team2100 Project along with two prestigious awards including the Environment Agency's Project Excellence Awards for innovation. As the partnership with IWS demonstrates, the unrivalled combination of our UAV flight proficiency and our state-of-the-art analytics techniques, which is a major differentiator compared to our peers, is generating a growing pipeline of business with major blue-chip companies and government agencies."
Mr Ian Cutter, Contract Manager for IWS, said: "We are delighted to be working with Geocurve and look forward to utilising new technologies in surveying to assist with our projects."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
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For further information please visit www.strat-aero.com or contact:
Strat Aero plc | Tel: +44 (0) 1293 804741 |
Graham Peck (Chairman) | |
SP Angel Corporate Finance LLP | Tel: +44 (0) 20 3470 0470 |
Nominated Adviser and Joint Broker | |
Stuart Gledhill Jeff Keating Caroline Rowe | |
Beaufort Securities Limited | Tel: +44 (0) 20 7382 8300 |
Joint Broker | |
Elliot Hance | |
Cornhill Capital Ltd | |
Joint Broker | |
Nick Bealer | Tel: +44 (0) 20 7710 9610 |
St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
Financial PR Frank Buhagiar Susie Geliher |
Notes
Strat Aero plc is a multi-divisional international aerospace services company, focused primarily on the provision of complete client solutions in the Unmanned Aerial System ('UAS' market), which is predicted to show exponential growth over the coming decade. Commercial and military applications in UASs are expected to be a dynamic growth sector in the aerospace industry over the next 10 years with the UAS market forecast to grow to more than US$82.1 billion between 2015 and 2025 (AUVSI Economic Report 2013) and the global airborne Intelligence, Surveillance and Reconnaissance ('ISR') market estimated to grow to US$19.23 billion by 2023.