Windar Photonics PLC - Expansion of Retro-Fit Capabilities & Appointments
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("Windar" or the "Company")
Secures Exclusive Licence Agreement to Deliver Turbine Life Expansion and Extreme Load Reduction
And Appointments of COO and Sales Manager
Expansion of Retro-Fit Capabilities
DTU has begun the implementation of an innovative software solution into Windar's products. This software solution is expected to mitigate extreme loads on installed wind turbines without requiring changes to be made to the existing controller systems. This will be licensed to Windar on an exclusive basis and will complement Windar's existing Yaw alignment optimisation technologies featured in its wind turbine retro-fit product portfolio, including WindEyeTM and WindTimizerTM. These products are already recognised as leading solutions to the retro-fit market - supplying 10 of the top 25 global Independent Power Producers ("IPPs") in the market - due to their ability to increase annual energy production by 1-4%.
Based on work already conducted, DTU estimates that it can deliver extreme load reductions of between 5 per cent and 10 per cent. This can increase the expected operational lifetime of a wind turbine by a similar amount.
The Company anticipates that the new software will be launched during 2020 and will feature as an optional software upgrade in new and existing WindEye™ installations.
Before joining Windar, Hong was Director of Global Commodity and EMEA Account Management at Philips, the multi-national technology company. Prior to this she was General Manager, Global Category Management, at Maersk, which is the world's largest shipping company.
Hong completed a Bachelor of Science degree at UIBE in 1991. Following this she went on to study an MBA at the
Hong and Jason will both be based in Windar's
Jørgen Korsgaard Jensen, CEO of Windar, said:
"We are excited to add this load reduction capability to our technology in a way which respects our general "plugN'play" strategy and which will help our customers to increase the lifetime of their turbines without excessive cost. It also enables Windar to increase the growth potential and profit margins available from our existing WindEyeTM and WindTimizerTM products, which serve the retro-fit market segment of the wind turbine industry. Securing this exclusive licensing agreement accords with our strategy to maintain our market leading position and low-cost advantage through ongoing R&D and the costs associated with this initiative are in line with our anticipated spend on product evolution.
"We expect this new solution, together with our new hires, to solidify our market leading position as a developer of durable, high quality cost-effective LiDAR products which increase the efficiency and revenues of wind energy projects. We welcome Hong and Jason to the Company and believe that their skills and experience will strongly complement our focus on growth and ultimately reaching our ambition of building a strong, profitable company."
"Since 2008 DTU and Windar Photonics have had a partnership related to development of new innovative Lidar technologies for the wind turbine industry. Today, I am delighted that yet another innovation created within DTU will potentially be brought to market through the partnership we have with Windar Photonics. We believe, the invention has great potential in creating new jobs and in benefiting the environment."
For further information:
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Jørgen Korsgaard Jensen, CEO
Nominated Adviser and Broker
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+44 (0)20 7894 7000
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+44 (0)20 3757 6880
Windar Photonics is a technology group that develops cost-efficient and innovative Light Detection and Ranging ("LiDAR") optimisation systems for use on electricity generating wind turbines. LiDAR wind sensors in general are designed to remotely measure wind speed and direction.
This information is provided by RNS, the news service of the
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