Windar Photo Regulatory News (WPHO)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLEOR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANYOTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANTLAWS OR REGULATIONS OF SUCH JURISDICTION 30 March 2015 Windar Photonics plc Admission to trading on AIM and first day of dealings Windar Photonics plc ("Windar" or "the Company"), a technology group that hasdeveloped a cost efficient and innovative Light Detection and Ranging ("LIDAR")wind sensor for use on electricity generating wind turbines, is pleased toannounce that its admission to trading on the AIM market of the London StockExchange ("AIM") and dealings in its ordinary shares commence at 08:00am (BST)today ("Admission") under the ticker "WPHO". Windar's key product is the WindEye™ Sensor which measures wind direction andwind speed by scanning a laser beam ahead of the wind turbine. The WindEye™Sensor was designed for the general optimisation of wind turbines. Martin Rambusch, Windar's CEO, commented: "Windar's admission to trading on AIMis another milestone in the Company's journey. Admission to AIM raises theprofile of the Company and its cost effective and innovative WindEye™ Sensorproduct, which both improves efficiency and prolongs the life of wind turbines,and provides a great platform for the future growth of the business. The Windarteam is looking forward to continuing the success story and to building ourpresence on AIM." Prior to Admission, Windar raised funds from institutional and other investors.On 29 August 2014, the Company closed an initial private offering which raisedapproximately £2 million. On 2 October 2014, Windar subsequently closed afurther private offering which raised approximately £1 million. Between 28November 2014 and 12 December 2014, institutional and other investors investedapproximately a further £2.88 million. The market capitalisation of Windar on Admission is £38.2 million, based on theintroduction price of 100p per ordinary share and 38,166,377 ordinary shares inissue. The Company is led by an experienced Board, chaired by John Weston CBE,previously chief executive of BAE Systems plc and a former member of the PrimeMinister's council for science and technology. He is joined by executivedirectors Martin Rambusch (CEO) and Jørgen Korsgaard Jensen (COO and founder),as well as non-executive directors Simon Barrell, Johan Blach Petersen andNiels Vejrup Carlsen. Sanlam Securities, which is authorised and regulated in the United Kingdom bythe FCA, is acting as nominated adviser and broker to the Company in connectionwith the Introduction and Admission. The Admission Document published by the Company on 24 March 2015 in connectionwith the Admission can be found at www.investor.windarphotonics.com. Defined terms used in this announcement have the same meaning as set out in theAdmission Document published on 24 March 2015. For further information visit http://investor.windarphotonics.com Enquiries Windar Photonics Martin Rambusch, CEO +45 2168 9476 Jørgen Korsgaard www.windarphotonics.com Jensen, COO Haggie Partners LLP Peter Rigby, +44 (0)20 7562 4444 James Fearnley peter.rigby@haggie.co.uk james.fearnley@haggie.co.uk Sanlam Securities UK David Worlidge, +44 (0)20 7628 2200Limited Andrew Wagstaff Ends About Windar Photonics The origin of the WindEye™ Sensor lies in the development of a LIDAR windsensor which accurately measures wind speed and direction at a lower cost thancompeting LIDAR wind sensors. In 2002, Jørgen Korsgaard Jensen, the presentChief Operating Officer, founded OPDI Technologies to work in conjunction withthe Technical University of Denmark ("DTU") to commercially exploit certainoptical technologies. This progressed in 2006 with the start of a LIDAR windsensor development project, the technology of which is now owned by the Group. LIDAR wind sensors in general are designed to remotely measure wind speed anddirection. The Group's key product is the WindEye™ Sensor which measures winddirection and wind speed by scanning a laser beam ahead of the wind turbine.The light emitted by the WindEye™ Sensor identifies the movement of tinyparticles in the air and can transmit data every second to the wind turbinecontrol. Software algorithms can then calculate the oncoming wind speed anddirection relative to the turbine direction, enabling the turbine control torespond and optimise the performance of the wind turbine. The WindEye™ Sensor is designed to be both safe and robust and has been purposebuilt to be installed on most commercial wind turbines. It has been furtherdesigned to have a multi-year lifecycle with limited maintenance other than thereplacement of the light source every two years. Due to the use of asemi-conductor laser, the Directors believe that the Company is able to offerthe WindEye™ Sensor at a lower cost compared to competing products whilst stillretaining an attractive margin. The Directors believe the WindEye™ Sensor canbe differentiated from comparable products currently available on the market byits lower price and durability, which typically enables the Company to provideits customers with a return on investment within one to four years. Windar Photonics A/S has been actively marketing to potential customers overthe past two years and has secured orders from both OEMs and Wind ParkOperators. There are on-going discussions with several potential customers forlarge scale new installations within both the OEM market and the RetrofitMarket. The sale process typically involves a product trial/demonstration over a two tothree month period. Upon completion of the trial period, Windar Photonics performs analysis of thecollected data and presents the results to the potential customer. Followingverification, negotiations regarding further installation/control integrationwill usually commence. The Group has its headquarters in the UK with the business primarily beingoperated by Windar Photonics A/S in Copenhagen, Denmark. The Group also hassales representation in USA, Canada, Europe and China.

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