Sabien Technology Group PLC Operational Update (1678D)
June 25 2021 - 5:15AM
UK Regulatory
TIDMSNT
RNS Number : 1678D
Sabien Technology Group PLC
25 June 2021
25 June 2021
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310 ("MAR"). With the publication of this
announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain.
Sabien Technology Group plc
("Sabien" or the "Company")
Sabien Operational Update
Sabien Technology Group plc (AIM:SNT), a Company focused on
building a portfolio of solutions in the heating, cooling, and
transportation sectors, announces today a number of
transformational developments within its operating company, Sabien
Technology Ltd (OpCo).
1. The appointment of Tom Sprunt as the Managing Director of
Sabien Technology Ltd (non-Board), a role which he has been
operating within on an interim basis for a number of months. Tom
has many years' commercial experience in the boiler management
industry. He will continue to lead the OpCo's business development
and sales activities.
2. The Company's previously announced Cloud-based subscription
service has now gone live on more than 5 sites across the public
sector, sports venues and pharmaceutical manufacturing facilities.
On these sites existing M2G installations have been augmented with
Sabien proprietary plug-and-play internet connected communications
units that stream boiler performance data directly into a private
Cloud. Customers are now receiving the benefit of online dashboard
analytics showing real-time energy and carbon savings all provided
by Sabien's M2G technology. Further, they can receive bespoke
holistic analytics on the performance of their plant and controls
from any remote location. This facilitates, through partnership,
significant efficiencies towards their NetZero ambitions across
their local or worldwide estate. This is a step change in how
commercial gas boilers are managed. These sales were completed
using Sabien's recently appointed facilities management and ESG
partners. These channels to market are now preferred by the Company
for a range of intended applications.
3. The signing of a Master Service Agreement with Lockular,
Sabien's secure Cloud service enablement partner for M2G and other
products. Lockular ensures that all data streamed from Sabien
devices to the Cloud has military grade security. Additionally,
Sabien has access to AI analysis of the captured data which, in
turn, supports an enriched dashboard experience. In doing so,
Sabien Cloud-connected products and services are robustly
protected.
4. To take advantage of these developments the Company has
committed to the development of a next generation version of the
M2G product line. This unit will integrate all recent developments
into a single Cloud-enabled device. By further enabling streamlined
installation and support, it is anticipated that this unit will
enhance margins in the next financial year.
Sabien is intent on developing a platform which directly
addresses the sustainability and environmental challenges and
opportunities facing us all. This will be delivered through a
portfolio of acquisitions and technology licenses supported by the
specific skills and acknowledged leadership of our executive team
and advisers. The evolution of the current Sabien OpCo based on the
M2G product line remains an important part of this strategy and the
Cloud-based technologies and commercial partnerships developed by
the OpCo will underpin the development of a wider platform.
Richard Parris, Executive Chairman of Sabien, commented:
"This announcement establishes the existing Sabien OpCo at the
core of our ongoing acquisition and growth strategy. The team,
technology, Cloud service, and commercial partnerships provide the
core platform on which we intend to build a leading global
commercial enabler of greenhouse gas reduction and drawdown"
Further Information:
Sabien Technology Group plc
Richard Parris, Executive Chairman +44 20 7993 3700
Allenby Capital Limited (Nominated Adviser)
John Depasquale / Nick Harriss +44 203 328 5656
Peterhouse Capital Limited (Broker)
Duncan Vasey / Lucy Williams +44 207 469 0930
The person who arranged for the release of this announcement on
behalf of the Company was Richard Parris, Executive Chairman.
About Lockular:
Lockular Limited is a company founded in the knowledge the
public cloud can be secured for everyone to benefit from the
undoubted economic and social benefits of a digital economy.
Lockular's patented technology uses homomorphic techniques to
process encrypted data and spread over up to 1,000 platforms - both
in transit and while stored, the data is meaningless. Lockular's
process uses blockchain technology which provides an irrefutable
chain of custody and any attempt even to access the data is written
to the blockchain, providing intrinsic intrusion detection.
https://www.lockular.com
A copy of this announcement will be available from the Company's
website at www.sabien-tech.com
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END
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