Last checked at 26 Mar 2009 07:00
| 26 March 2009 |
Sabien Technology Group plc
("Sabien" or "the Company")
Order and UL approval
Sabien achieves Underwriters Laboratories ("UL") approval for M2G and receives £100,000 order from its US distributor.
Sabien Technology Group PLC (AIM: SNT), the manufacturer and distributor of the patented M2G energy efficiency technology, is pleased to announce that it has obtained Underwriters Laboratories approval ("UL") for M2G for the USA.
This certification will enable M2G to be sold in the USA where it has been piloted by its US distributor, Greffen Systems, at a number of prospective client sites over the past 6 months.
On the back of achieving UL approval, Greffen Systems has placed an order with the company for £100,000.
Greffen Systems has moved quickly to take advantage of the 2008/09 heating season and has installed 7 pilots across North America that collectively represent a useful sample of the M2G's performance in the different climatic regions of North America. It is currently in the process of commencing 5 more pilots. The performance of the M2G is consistently dynamic and successful across each of the U.S. pilot locations, with pilot installation data averaging over 19% annualized energy and carbon savings, and savings in the best cases being circa 25%.
Alan O'Brien Chief Executive Officer said:
"Now that M2G has achieved its UL certification for the USA, Greffen Systems is focused on quickly converting its successful pilots to orders and rollout over the spring and summer months and expects to make a material contribution to Sabien's order book over the coming months".
For further information:
| Sabien Technology Group plc | |
| Alan O'Brien, CEO | Tel: +44 (0) 20 7993 3700 |
| Gus Orchard, CFO | www.sabien-tech.co.uk |
| Arbuthnot Securities Limited | |
| Antonio Bossi | Tel: +44 (0) 20 7012 2000 |
| www.arbuthnotsecurities.co.uk |