Source - LSE Non-Regulatory
RNS Number : 5400W
Sabien Technology Group PLC
19 August 2022
 

19 August 2022

 

Sabien Technology Group plc

("Sabien", the "Company" or the "Group")

Sales Channel Partnership and Expansion in Domestic Heating Market

Sabien Technology Group plc (AIM:SNT), the company focused on a green aggregation strategy, announces that it is working closely with City Energy1  and EDF Plc to obtain SAP2 approval for its M2G Cloud gas reduction technology.

SAP approval will expand Sabien's reach for the M2G product line into the residential/domestic market via district heating schemes and increases it current addressable market by 3 times. The savings delivered through Sabien's unique technology; instantly addresses the energy crisis the UK is currently experiencing. Reducing fossil fuel use at point of consumption and reducing overall cost to the consumer on their bill.

To enable the roll-out of M2G solutions into this larger domestic market, Sabien`s experienced engineering team will be further enhanced by City Energy`s fleet of engineers to deliver the energy saving installations at pace.

It is noteworthy that Sabien installed the first residential M2G Cloud solution through a contract with a Government Department on 16 August 2022 and its second on the following day.

Separately, as a demonstration of the benefit of the Sabien system, on 11 July 2022, its real time reporting system showed an average 17% daily savings in gas consumption and CO2 emissions, across a mixed customer base of 109 newly installed cloud enabled M2G installations.  Even during the summer period, this is financially significant for our customers at a time of increasing gas prices. Customers receiving installations over the summer are well placed to benefit from even greater savings during the coming winter months.

Commenting on this news, Richard Parris, Chairman of Sabien, stated:

"This partnership with City Energy and, through them, with EDF will significantly increase Sabien's firepower to sell more M2G units into more markets. While further work is required to complete SAP certification and the supply of silicon chips remains challenging, I am confident this announcement represents a step-change in Sabien's go-to-market firepower. This bodes well for future sales, especially as the demonstrated average immediate saving of 17% gas heating bills is nationally significant to businesses and consumers alike."

Editor's Notes:

1) City Energy - City Energy Network Ltd is part of the same group as one of the Company's substantial shareholders, Diversity Network Investments Limited.

 

2) SAP - The Standard Assessment Procedure is the UK Government's National Calculation Methodology for assessing the energy performance of dwellings

 

For Further Information:

Sabien Technology Group plc

Richard Parris, Executive Chairman 

 

 +44 20 7993 3700 

Allenby Capital Limited (Nominated Adviser)

John Depasquale / Nick Harriss / Vivek Bhardwaj 

 

 

+44 203 328 5656

 

Peterhouse Capital Limited (Broker)

Duncan Vasey / Lucy Williams 

 

+44 207 469 0930

 

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