Sabien Technology rises on Fireye distribution agreement

Shares in AIM-listed boiler energy efficiency technology manufacturer Sabien Technology advanced as the group signed a non-exclusive distribution agreement with flame safeguard controls manufacturer Fireye, for the supply of its UL-approved M2G boiler optimisation controller.

Shares in AIM-listed boiler energy efficiency technology manufacturer Sabien Technology advanced as the group signed a non-exclusive distribution agreement with flame safeguard controls manufacturer Fireye, for the supply of its UL-approved M2G boiler optimisation controller.

M2G improves the energy efficiency of commercial and industrial boilers and reduces carbon emissions and energy consumption by between 10% and 25%.

The territories covered by the agreement include the US, the European Union, Switzerland, China, Japan and South Africa.

Sabien reported that its M2G product would feature the Fireye logo and be promoted through Fireye's network of distribution partners and sales teams in the territories covered by the agreement.

Alan O'Brien, Chief Executive Officer of Sabien Technology, commented: "We are extremely pleased to add a group the calibre of Fireye to our overseas distributor network. The agreement creates an excellent opportunity for Sabien to access major overseas markets."

"Fireye is a respected market leader in combustion controls with strong technical and distribution capabilities. M2G is a natural fit with their existing portfolio, providing flame safeguard controls and burner management systems for commercial and industrial applications throughout the world," he added.

John Devine, Vice President for the Sales, Marketing and Combustion controls group, Fireye, commented: "We are pleased to have the opportunity to add the M2G product to our line of combustion efficiency products and look forward to a successful introduction of the product in a number of key markets."

Sabien Technology's share price was up 13.64% to 25p at 11:57 on Tuesday.

MF

Recommended

Aviva: a share for income investors to tuck away
Share tips

Aviva: a share for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
18 May 2022
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves looks at the FTSE 100’s top yielding stocks for income investors to consider.
18 May 2022
Three fast-growing, undervalued UK mid-cap stocks to buy now
Share tips

Three fast-growing, undervalued UK mid-cap stocks to buy now

Professional investor Katen Patel of the JPMorgan Mid Cap Investment Trust picks three fast-growing UK mid-cap stocks to buy now.
18 May 2022
Should you buy Vodafone shares, or steer clear?
Share tips

Should you buy Vodafone shares, or steer clear?

Vodafone grew revenue by 4% and profit by 11% last year, and offers investors a 6.4% dividend yield. So should you buy Vodafone shares? Rupert Hargrea…
17 May 2022

Most Popular

Get set for another debt binge as real interest rates fall
UK Economy

Get set for another debt binge as real interest rates fall

Despite the fuss about rising interest rates, they’re falling in real terms. That will blow up a wild bubble, says Matthew Lynn.
15 May 2022
Is the oil market heading for a supply glut?
Oil

Is the oil market heading for a supply glut?

Many people assume that the high oil price is here to stay – and could well go higher. But we’ve been here before, says Max King. History suggests tha…
16 May 2022
Value is starting to emerge in the markets
Investment strategy

Value is starting to emerge in the markets

If you are looking for long-term value in the markets, some is beginning to emerge, says Merryn Somerset Webb. Indeed, you may soon be able to buy tra…
16 May 2022