Sabien Technology Group, which manufactures and supplies M2G, a boiler energy efficiency technology, has won a new order to install M2G across the Ministry of Defence (MoD) south east regional prime contract, which is managed by PriDE, a joint venture between Interserve Defence and SSE Contracting.
The group added that it expects further orders before the end of its financial year on June 30th.
Alan O'Brien, Chief Executive of Sabien said: "This significant order demonstrates the key role M2G plays in reducing organisations' gas consumption and CO2 emissions and how it can be deployed across large estates. We look forward to working with PriDE to deliver this project."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
PriDE will be responsible for estate management and construction services at almost 100 MoD sites throughout the south-east region, encompassing nearly 6,000 buildings and facilities.
It is anticipated that a large part of these orders will be recognised as sales revenue during this financial year, the group said. Installation work has already started at a number of sites.
The share price jumped 12.2% to 23p by 08:30.
How to build your own ‘pot for life’ pension with a SIPP
Advice You don’t need to wait for ‘pot to life’ rules to take control of your retirement fund
By Marc Shoffman Published
Protect what matters with bespoke insurance
Your life is unique, so is standard home insurance really designed to meet your needs? NFU Mutual’s Bespoke Home Insurance is designed to be tailored to your unique circumstances.
By MoneyWeek Published