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"
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.
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